site.btaOmbudsman Delcheva Urges Bulgarian National Bank to Amend Rules on Credit Register

The National Ombudsman Velislava Delcheva proposed that the Bulgarian National Bank amend Regulation 22 on the Central Credit Register so individuals can request deletion of credit data if a court declares their loan agreement void, the Ombudsman’s press service said on Tuesday.

Delcheva’s proposal came in response to numerous complaints from citizens dissatisfied that, despite court rulings declaring their loan agreements void, their names still appear in the Bulgarian National Bank register as debtors with poor credit histories. This, Delcheva pointed out, prevents them from obtaining future loans from banks or financial institutions.

The most recent complaint was submitted just days ago, involving a borrower whose consumer loan agreement was declared void by a court. The borrower sought help after a payday loan provider repeatedly refused to submit corrected information to the Central Credit Register in accordance with the court’s final ruling.

Before submitting her proposal, the Ombudsman held a meeting with a Deputy Governor of the Bulgarian National Bank. During the talks, it was confirmed that the Bulgarian National Bank is already preparing amendments to the relevant regulation, the Ombudsman’s press service added.