Some 114,000 Czechs filed for personal bankruptcies in 2018

Some 114,000 people in the Czech Republic filed for personal bankruptcy last year, according to a map focused on the issue, produced by the newly established Institute for Debt Prevention and Resolution.

The highest number of bankruptcies was filed in the region of Ustí nad Labem, while the lowest number of cases was recorded in Prague.

An amendment to the Law on Insolvency, which comes into effect in June, should make the debt relief process easier. According to experts, the number of personal bankruptcies is expected to further increase in the future.

Author: Ruth Fraňková