under the new legislation, the application of the debtor in any MFC “My documents”. IFC specialists will check the condition of the enforcement proceedings and will post a notice in the Unified Federal register of bankruptcy information (Medresurs). After that the accrual of interest, penalties and fines, it means the debt is no longer growing. The Bank or MFI whose loans/loans specified in the statement, can you see if the debtor’s estate, except a single housing, or a car that you can recover and has the right to initiate General bankruptcy proceedings through the courts. If the creditor, as enforcement officers, they found nothing, six months after registration of the case in Peresource citizen free from debt and to start life with a clean slate.
given the simplicity of the procedure act contains a substantial barrier for its use. It lies in the fact that the bankruptcy precedes the completed execution proceedings, that is, the borrower must go through a trial on the claim of the Bank or MFI and the bailiffs should make a ruling about the impossibility of foreclosure, and that could take years, said the Chairman of the Board of Confederation of societies of consumers Dmitry Yanin. In addition, the bailiff may not terminate the enforcement proceedings if the debtor periodically have any income. Finally, the creditor can transfer the debt collectors, not to collect it through the courts.
Considering criteria for admission, in the first months of action of the law in cases of recourse to this procedure will not be massive, says managing Director – head of enforcement and bankruptcy of Sberbank Yevgeny Akimov. This confirms the experience of entry into force of common rules on bankruptcy of citizens in October 2015, only a few debtors immediately initiated its own bankruptcy.
it is Important to remember that you will be charged is the amount of debt that a citizen said in a statement. Thus there is a danger that he may not know exactly how many needs including interest and penalties. Therefore, before applying, you must apply for these information to the Bank or MFI, says lawyer, project expert of the Ministry of Finance on financial literacy Lyudmila Kirillova. Loans not listed in the bankruptcy petition, will remain in effect.
the international practice (for example, New Zealand has a very similar Institute the No Asset Procedure) shows that creditors quite often move from simplified to ordinary bankruptcy procedure. “But in our version of the new procedure is available only to those for which lenders had already made a hopeless attempt of recovery in the enforcement proceedings, and failed to find a property that you could pay seekshardware. Therefore, we believe that the transition to the normal procedure will not be systemic,” says Yevgeny Akimov.
Instead of debt relief a citizen of partially restricted rights. During the six-month bankruptcy proceedings, he cannot take out new credit/loans and to sponsor. If a citizen for less than a year before the bankruptcy was an individual entrepreneur, he can not within five years engage in business and to occupy leadership positions (such as the consequences occur after the bankruptcy court). Repeat extrajudicial bankruptcy only after 10 years.
“We hope that the new bankruptcy will help the poorest citizens who are in difficult life situation, to get out of debt and back to normal life”, – said Deputy Minister of economic development Ilya Hummocks. Operating since 2015 procedure of bankruptcy through the courts only applies to debt from 500 thousand rubles. and costs about 100 thousand rubles.
the impact of the law on creditors must also be generally positive. “It will be possible in a more simple order to write off bad debts, reduced the terms of those bankruptcy procedures that are known to not lead to compensation, but are forced to bear the organizational and material costs,” says Yevgeny Akimov.
with regard to the possibilities of abuse, the fears of traditional lenders – do not use the simplified procedure if the debtor initially had no intention to fulfill their obligations. “But these opportunities are seen not very significant because, as mentioned above, the criteria for the admission of the debtor to the procedure is relatively hard,” says Akimov.
