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Janoshalmi, Gabor; Zetko, Adrienn; Bodis, Richard --- "HUNGARY" [2019] ELECD 1207; in Kadner Graziano, Thomas; Bojars, Juris; Sajadova, Veronika (eds), "A Guide to Consumer Insolvency Proceedings in Europe" (Edward Elgar Publishing, 2019) 564

Book Title: A Guide to Consumer Insolvency Proceedings in Europe

Editor(s): Kadner Graziano, Thomas; Bojārs, Juris; Sajadova, Veronika

Publisher: Edward Elgar Publishing

Section: Chapter 16

Section Title: HUNGARY

Author(s): Jánoshalmi, Gábor; Zetkó, Adrienn; Bódis, Richárd

Number of pages: 7

Abstract/Description:

In the aftermath of the financial crisis starting in 2007, Hungary faced high numbers of defaults, especially of debtors with mortgage-backed foreign currency denominated loan agreements. In 2015, it introduced a comprehensive new regulation on personal bankruptcy by passing Act CV of 2015 on Debt Settlement of Natural Persons.