Two-tier bankruptcy planned

A proposal by the co-ruling Christian Democrats (KDNP) would introduce personal bankruptcy in two steps: first to those households in most need of assistance this September, and to the rest of Hungarians a year later, business daily Napi Gazdaság has reported. Under the proposal, a judge would decide what part of the family’s income would go to creditors as well as what part of their debt would be forgiven if the bankrupt family keeps their agreement on repayments for five years, KDNP deputy head Bence Rétvári told the paper.