With the entry into force of the new Bankruptcy Act on September 9th 2015 many innovations were introduced into the Croatian bankruptcyency law. One of the most important is new regulation of the pre-bankruptcy procedure. Many weaknesses of the previous system have been eliminated with introduction of faster, economical and purposeful implementation of the pre-bankruptcy procedure. The separation of pre-bankruptcy from bankruptcy reasons also contributed to this. The threatening insolvency becomes the reason for implementation of the pre-bankruptcy procedure. The pre-bankruptcy procedure has been placed under the jurisdiction of the court and the main goal of its implementation is to regulate the legal position of the debtor and his relationship with creditors, as well as to maintain his business activities. Unlike the previous Act on Financial Operations and Pre-Bankruptcy Settlement, where the pre-bankruptcy procedure could take quite a long time, the new procedure is urgent and the deadlines related to it are very short, which contributes to quick resolution and realization of the principle of economy. In this paper, the author will try to explain the basic concepts of pre-bankruptcy law and its procedure and to analyze the basic differences between the previous and current regulation of bankruptcy law in the Republic of Croatia.