The draft law on bankruptcy of individuals was adopted by the State Duma in the first reading in 2012. It aims to regulate the situation of debtors in Russia. The need to pass the law is due to the consumer lending boom that has been observed in recent days.
Often borrowers with a loan had to borrow money from other banks and take out a new loan. As a result, the amount of monthly payments was too heavy for the debtor. During the crisis, when many citizens lost their jobs, the situation only worsened.
According to statistics, the total volume of loans issued in Russia is 7 trillion rubles, of which 4.5% or 310 billion are outstanding.
If in Western countries such debtors always have the opportunity to declare themselves bankrupt, pay off their debts and start a new life, in Russia there is no such mechanism.
What is the meaning of the law
In its most general form, the bill assumes the following algorithm for the bankruptcy of the borrower:
The tax office, borrower or lender submits a claim to arbitration to declare the borrower bankrupt. They can do this if the borrower has a debt of more than 50 thousand rubles, which he has not paid for the last 6 months. At the same time, the borrower must not have an outstanding criminal record.
If the court declares an individual bankrupt, it determines a debt restructuring plan for up to 5 years, and also appoints a temporary administrator. Moreover, the opinion of the lender on the payment plan does not matter. After five years, the debtor is removed from the bankruptcy status.
The borrower must follow the established debt repayment plan, otherwise his property is subject to forced sale at open auction.
In order to exclude possible abuses on the part of the borrower, the draft law provides for a restriction - the debtor's application is considered only if he has funds to pay remuneration to the manager - 20 thousand rubles. A citizen can exercise the right to declare himself bankrupt only once in five years.
During the year, the debtor, who was declared bankrupt, is prohibited from engaging in entrepreneurial activity and taking loans from banks for five years. Then he has the right to start a new credit history.
Advantages and disadvantages of the law from the debtor's point of view
The advantages for borrowers are obvious - they get the opportunity to pay off debt over the long term, as well as maintain social and property status. At the same time, creditors will have the opportunity to reduce the cost of collecting problem debts. Also, the law will allow to protect citizens from the actions of collectors.
Even if the debtor's property is sold by auction, it is prohibited by law to take home appliances (worth less than 30 thousand rubles); items necessary for the implementation of professional activities; money up to 25 thousand rubles; an apartment, if it is the only one (the exception is housing, issued in a mortgage).
Among the disadvantages are:
- the need to pay for the services of the manager;
- the law may lead to toughening requirements for borrowers and an increase in interest rates on loans;
- a ban on doing business, as well as holding leadership positions for bankrupts.
Many experts note among the shortcomings of the law - the possibility of its use by those debtors who deliberately did not pay debts. For example, with the amount of debt in 1 million rubles and property in the amount of 100 thousand, the latter is sold during the auction, and the debt is actually forgiven to the borrower.
