Russians almost never use the power of the law on bankruptcy of physical persons, the newspaper “Vedomosti”. As of November 1, has secured the release of debt about 1 million people, accounting for only 0.2% of the number of potential bankrupts, under the law, which came into force on 1 October 2015. The mechanism for debt restructuring in General was broken, and the initiators of bankruptcy in 80% of cases were creditors, the newspaper notes.
The evaluation of the joint credit Bureau (OKB), now under the law on bankruptcy of citizens is subject to 593 thousand Russians with debt over 500 thousand rubles to one or more loans, payments for which were made from 90 days.
In the legal Bureau “Olevinsky, Buyukyan and partners” told the publication that in an average month, serves about 3,000 applications for bankruptcy from them by the debtors is only 15-20%.
The reasons for lack of demand the law of the few, the publication says. So, in March of this year for the first time in Russian court practice the citizen has already been declared bankrupt, been refused debt relief. The court found that a resident of Novosibirsk “has taken on a clearly unenforceable obligations, which clearly shows his misconduct to the detriment of the creditors,” denying him relief from debts.
Other citizens of the procedure is not affordable. Advisor of a company Saveliev, Batanov & Partners says that the bankruptcy of citizens is not widespread because of the high cost and unwillingness of arbitration managers to participate for a stipulated reward of 25 thousand rubles.
The problem can be solved by introducing a simplified procedure of bankruptcy at least in relation to citizens who do not have property to realize and establish the Ineligibility for financial managers only for violations that caused losses to lenders.
Thus, according to the estimates of the Bureau “Olevinsky, Buyukyan and partners” in selling the property about 15% of the bankruptcy estate is spent on the remuneration of the Manager and referred by them to the persons, and the average costs amount to 200 thousand rubles.
Another factor was low legal literacy and lack of awareness of citizens. A year ago, the sociologists found that 69% of citizens in the cities are not aware of the adoption of the law on bankruptcy of natural persons, and in September of this year, these remained more than 50%. A third of Russians does not know anything about the possibility of bankruptcy of physical persons.
Recall the end of September this year the working group of the Russian Union of arbitration managers (ORAU) and the Union of their self-regulatory organizations proposed a simplified procedure of bankruptcy of citizens.
It is designed for ordinary borrowers on consumer loans unrelated to the business, whose debts do not exceed 1 million roubles, the valuation of property – 500 thousand rubles salary and three minimum subsistence level. Such debtors will be able to count on expedited review of the case and, perhaps, exemption from the payment of remuneration to the bankruptcy Trustee in charge of bankruptcy proceedings or a noticeable reduction in cost.
Later the state Duma Committee on budget and taxes recommended that the lower house of Parliament adopted in first reading a bill to reduce the fee for individuals when filing for bankruptcy with a 6 thousand rubles to 300 rubles.
The simplification of procedures, according to experts, is in line with international practice, where there is experience of regulation of the procedure with no assets and a limited amount of debt. Innovation, however, might face such difficulties as the “avalanche-like” increase in the number of debtors in the courts and the complexity of the cut-off unscrupulous individuals, hiding real assets.