Preheat the oven to 350°F (175°C).
In a large mixing bowl, combine the breadcrumbs and milk. Let sit for 5 minutes until the breadcrumbs absorb the milk.
Add the ground beef, egg, chopped onion, minced garlic, 1/4 cup ketchup, Worcestershire sauce, salt, black pepper, dried thyme, and dried oregano to the breadcrumb mixture.
Using your hands or a spoon, gently mix all ingredients together until just combined. Avoid overmixing to keep the meatloaf tender.
Transfer the meat mixture to a loaf pan or shape it into a loaf on a lined baking sheet.
Spread the remaining 1/2 cup ketchup evenly over the top of the meatloaf.
Bake in the preheated oven for 55 to 60 minutes, or until the internal temperature reaches 160°F (71°C).
Remove from the oven and let the meatloaf rest for 10 minutes before slicing and serving.