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Bankruptcy proceedings for citizens may become cheaper

Процедура банкротства для граждан может стать дешевле

The authorities are ready to reduce the price of process of bankruptcy for citizens. The corresponding bill has prepared Ministry of economic development. It allows citizens to declare themselves insolvent without the participation of the Trustee. And it can significantly save costs.

Recall that under current law, if there are more than 500 thousand rubles of debt and three months overdue on the loan it is possible to declare itself bankrupt and not pay its debts. In fact, however, to recognize themselves insolvent citizens are often unable due to the necessity of engaging legal intermediaries, because in the end the bankruptcy process costs quite a large sum – 150 thousand rubles.

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The project has supported the Ministry of Finance, according to news Agency “SeverInform” with reference to “Izvestia”. Against the initiative are the only lawyers that is clear in the case of adoption of law, they may simply lose some of your clients.

Add, on 1 December 2016, the number of petitions in bankruptcy filed by debtors exceeded 35 thousand. Of them recognized bankrupt only 1,5 thousand Russians.

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