Russia will simplify the procedure of bankruptcy of physical persons

The state Duma in 2017 initiate further amendments to the law on bankruptcy of physical persons, abolishing the need for arbitration control. The amendments are designed to make entry into bankruptcy proceedings less burdensome for citizens who find themselves in a difficult situation.

In 2017, the MPs can make amendments to the law on bankruptcy of physical persons, abolishing the need for arbitration control, the newspaper «Izvestia».

The head of the Duma Committee on financial market Anatoly Aksakov considers that the changes will make bankruptcy affordable for a wider range of debtors.

Estimated price for debt relief or restructuring at the beginning of November exceeded 82 thousand roubles, or about one-sixth of the minimum required to declare bankruptcy amount (500 thousand rubles).

Earlier, the state Duma adopted in the third reading the law on the reduction of the size of the state duty payable when filing the application on bankruptcy of physical persons, up to 300 rubles. At the moment, and for physical, and for legal entities the fee is six thousand rubles.

See also:

The Russians may prohibit the payment of large purchases in cash



Russia will simplify the procedure of bankruptcy of physical persons 29.11.2016

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