Number of personal bankruptcies up 13% at record 19,165 in 2013

Podnikatel, obchodník, krach, bankrot - ilustrační foto.

published: 06.01.2014, 14:15 | updated: 06.01.2014 14:33:42

Prague - The number of declared personal bankruptcies rose by 13 percent year-on-year to record-high 19,165 in the Czech Republic in 2013, but the growth of the bankruptcies was markedly slower than in the previous years, according to information released by company CRIF.

The number of filed petitions for personal bankruptcy rose by one-tenth year-on-year to 26,169 last year.

More than 57,000 personal bankruptcies have been declared and over 84,000 petitions for personal bankruptcy have been lodged since January 2008.

"Despite the initial fast growth in personal bankruptcies, their dynamics decreased significantly in the last year," CRIF analyst Vera Kamenickova said.

Courts rejected 17 percent of the total number of the bankruptcy petitions filed in the entire period. The most frequent reason for the rejection were formal shortcomings.

Only 0.4 percent of the petitions were rejected because the debtor did not comply with all the conditions required to declare a personal bankruptcy.

The share of rejected petitions has been decreasing gradually, which shows that people have been learning to use the institute of personal bankruptcy to resolve their difficult financial situation, according to Kamenickova.

The highest number of personal bankruptcies was declared in the Stredocesky region in central Bohemia (2,425) and in the Ustecky region in northern Bohemia (2,396) in 2013.

In contrast, the number of personal bankruptcies was the lowest in the Vysocina region (560) and in the Zlinsky region (851), both in southern Moravia.

The number of personal bankruptcies dropped in three regions in a year-on-year comparison.

The decline was the fastest in the Plzensky region in western Bohemia (a drop of 22 percent). The number also fell in the Karlovarsky region in western Bohemia and in the Olomoucky region in northern Moravia.

On the other hand, the fastest growth of personal bankruptcies was recorded in the Jihomoravsky region (growth of 60 percent) and in the Zlinsky region (growth of 40 percent). Both the regions are in southern Moravia.

In December alone, courts declared a total of 1,654 personal bankruptcies, which was 26 cases more than in November.

Debtors filed a total of 2,298 petitions for personal bankruptcy in December, a drop of 199 compared with the previous month.

Number of personal bankruptcies and bankruptcy petitions in CR

MonthNumber of personal bankruptciesNumber of bankruptcy petitions
January 20121,3121,656
February1,2241,913
March1,3192,121
April1,3692,019
May1,5261,972
June1,3852,017
July1,2451,931
August1,6282,050
September1,4101,754
October1,7032,348
November1,5652,292
December1,2961,872
January 20131,6951,862
February 20131,3542,015
March 20131,5692,390
April 20131,6752,354
May 20131,6602,271
June 20131,3711,948
July 20131,5202,096
August 20131,6562,011
September 20131,6361,943
October 20131,7472,484
November 20131,6282,497
December 20131,6542,298

Source: CRIF - Czech Credit Bureau

Author:
www.ctk.cz

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