The bankruptcy procedure for individuals in Russia has been launched since 2015. Since that time, not only legal entities, but all citizens of our country can fall into the category of financially insolvent due to accumulated debt obligations in an amount exceeding five hundred thousand rubles, and the delay for which was more than three months. This also includes debt obligations for loans, taxes, housing and communal services, etc., when the monthly income of an individual does not allow them to be paid. Moreover, debts are taken into account, both to legal entities and to individuals, using the principle of their addition.
Bankruptcy can become a real way out of a difficult financial situation in which a person finds himself in the event of his insolvency to pay monetary obligations. For example, the salary or pension is not enough for monthly payments of loans, taxes, utilities and other financial encumbrances. In this case, debts cannot simply be paid off, but on the contrary accumulate like a snowball with an exponential progression.
This seemingly fatal situation can be positively resolved by launching the bankruptcy procedure. Moreover, from the moment of the beginning of the proceedings in this case, the prosecution of creditors in the form of, inter alia, calls from collectors, which, with their aggressive pressure, often very seriously darken life, will immediately stop. And the procedure itself today takes about a year, which can be considered an absolutely justified period.
The current situation with the bankruptcy of "physicists" in our country is not at all optimistic. The fact is that this law was supposed to create the most favorable financial environment and proceeded from the fact that more than half a million people live in Russia, who actually belong to this category of people. However, now only a few tens of thousands of people dared to go through this procedure, and were declared official bankrupt.
Of course, this procedure takes a lot of time and effort, however, the goal to be achieved is very significant. In order to reliably understand all the nuances of this case, it is necessary first of all to study the reviews of specific people who have already gone through bankruptcy. And only then make a decision to what extent the individual situation can be justified in this context.
The main factors
Today's statistics speak volumes about the fact that residents of large cities, as the most literate from a legal point of view, more often turn to bankruptcy specialists. Therefore, the reviews of the residents of Moscow, St. Petersburg and other regional centers can be found on the Internet.
Summarizing the reviews of people who applied to arbitration courts with applications for declaring themselves bankrupt, the following can be highlighted:
- You can go through the bankruptcy procedure yourself;
- the budget for this event may fluctuate within the amount of about one hundred thousand rubles;
- the average time is about a year (seven to eight months for the sale of property);
- the most optimal option can be considered a procedure when debts amount to more than half a million rubles, and there are no movable and immovable property;
- the negative consequences of bankruptcy are fully justified by the benefits from it.
Since the law on bankruptcy of individuals itself is still quite "crude", then in real cases there are many questions that cause various interpretations and disputes.
The main misconceptions of citizens
An analysis of the situation with bankruptcy of individuals today shows that many people do not resort to it because of many fears.
First of all, the erroneous opinion concerns the fact that only debts that are fixed only at the current moment are supposed to be written off. Naturally, a communal apartment, traffic fines, alimony and other types of financial encumbrances associated with the identity of the borrower cannot be written off by definition. After all, these obligations imply the real life activity of a person. However, credit obligations and debts incurred to other individuals will be written off in full and regardless of the end date of the contractual obligations.
The next myth associated with bankruptcy is the misconception that the debtor is prohibited from traveling abroad. After the procedure, travel outside the Russian Federation is not limited at all. But during the consideration of the case, the permission of the court will be required to leave. The application must contain justification related to work or family reasons.
It is also often believed that, instead of declaring bankrupt, the court may decide to take away the entire salary or pension. In this context, it should be clearly understood that even when analyzing the income side of an individual, which will reveal a clear opportunity to pay off their debts, these debts will not be subject to full and one-time write-off, but only restructured. And the amount of monthly debt repayment according to the established schedule will be calculated based on the maximum level of 50% of income. In this case, there are many nuances associated with the cost of living in the region of residence, the presence of dependents, etc.
Moreover, it is important to understand that reviews saying otherwise are clearly fabricated and do not reflect the real picture. The law is extremely humane in nature, and its goal is to bring the citizens of our country, who have found themselves in a difficult financial situation, from a critical state.
Procedural part
Ordinary citizens of our country today have not yet mastered the bankruptcy procedure and believe that this is another way to enrich lawyers. However, it is important to understand that everyone can submit an application independently or through a trusted person. Moreover, creditors can submit such an application. But the latter, as a rule, do not do this due to the fact that additional legal costs will not be reimbursed from the financially insolvent borrower.
The bankruptcy procedure is economically disadvantageous only for those individuals who own substantial property, including the pledge to the creditor. In this case, the loan will be repaid through its implementation. It is important to know that fictitious bankruptcy is prosecuted under the Criminal Code of the Russian Federation. Such a scheme to get rid of property by re-registering it to relatives, friends or confidants is criminal. These transactions have a limitation period of 3 years. Within this period, they will be canceled.
Reviews of real people
Taking into account all the current reviews of people who have already convinced of its effectiveness from their personal experience, the following disadvantages of bankruptcy of individuals can be noted:
- the need to transfer all material powers to the financial manager, who will carry out a thematic examination of the property in great detail;
- the bankruptcy procedure is paid;
- after declaring an individual bankrupt, he is deprived of the right to open a business for three years, take a loan - within five years, hold a managerial position - for three years.
- all material transactions must be coordinated with the financial manager within several years after the court decision on bankruptcy.
It is important to understand that bankruptcy law clearly sets out all the rules applicable to individuals. If these requirements are not met for the bankruptcy applicant, then his application will be rejected. There is no doubt that the court will thoroughly and thoroughly check all the information about the individual who submitted the application. Therefore, one should not hope that the court will not reveal all sources of income and satisfy the petition of a citizen, whose capabilities allow him to independently pay off creditors. For those hoping for debt restructuring, you should know that the new repayment schedule will be calculated for a period of three months to three years.
In order to correctly navigate the real "physical reviews" of people on the forums on bankruptcy, who went bankrupt, you first need to read the law "On insolvency", where all the legal norms on this issue are clearly and clearly defined. The lawyers themselves consider this law not yet perfect enough. In order to avoid disagreements and misunderstandings, it is advisable to contact experienced bankruptcy lawyers in companies that are trustworthy and have a decent reputation. After all, qualified specialists will be able to significantly simplify the procedure and save time and effort. By the way, bankruptcy lawyers will not only help you choose a package of accompanying documents and appoint a financial manager, but also represent your interests in court by proxy.
Currently, the Ministry of Finance is preparing a new version of the bankruptcy law, but knowledgeable people say that it contains even more contradictory norms that cause a lot of controversy.
