Local banks representatives have asked authorities to speed up the personal insolvency laws enforcement. In December 2015, the authorities have decided to postpone the laws enforcement for a year.
The banks have also asked the authorities not to rush the voting and implementation of the new law on mortgage loans, which is now being debated in the Parliament.
Banks representatives consider that the personal insolvency law has a major advantage upon the mortgage law.
Both laws deal with situations when debtors are not able to pay for their loans anymore. The personal insolvency law allows any citizen who cant pay his debts, but not o…
Read the full article at: http://www.romania-insider.com/banks-in-romania-prefer-personal-insolvency-law-to-new-mortgage-law/165432/