Russians will get rid of 1.1 billion rubles of debt without trial

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As part of the out-of-court bankruptcy procedure launched last fall, the Russians will be written off 1.15 billion rubles. Izvestia was told about this in the Fedresurs project. In total, as of the second decade of April, 3.3 thousand citizens out of 9.4 thousand who applied for a simplified practice of getting rid of debts are undergoing a simplified practice. The remaining 6.1 thousand applicants were refused.

To date, the bankruptcy procedure has already been completed in respect of 612 people, in total they were written off almost 214 million rubles, said the head of the project “Fedresurs” Alexei Yukhnin.

According to the experts interviewed, the procedure is poorly implemented. Whereas the market capacity is quite “deep”, considering that the number of citizens who formally fall under the simplified mechanism exceeds 3 million, experts say.

Citizens do not actively use the mechanism of extrajudicial bankruptcy, since it is a fundamentally new institution in Russian legislation, Deputy Minister of Economic Development Ilya Torosov explained to Izvestia. In addition, only in March, the first completed procedures began to appear, which may be an example for Russians who are wary of the practice, including due to insufficient information about its possibilities and consequences, he stressed.

Large credit institutions do not yet record a large number of bankruptcies among their clients.

Read more in the exclusive material from Izvestia:

Understand and write off: Russians will get rid of 1.1 billion rubles of debt without trial