How to declare itself bankrupt

Apartments, cars, refrigerators, telephones - people are mired in the credits. More than 15 million Russians have two or more of the loan. According to the Joint credit bureau recorded record growth of overdue debt level in the first quarter of 2015 - 17.62%. This delay on cash loans, credit cards, auto loans and mortgages. The amount of overdue payments on it accounts for nearly 35 billion rubles.

The desire to live a better life often turns collapse: revenues do not cover credit liabilities, accrued fines, penalties piling up - the debts are growing like a snowball. And while on the background of the credit crisis fever has died down (people stop taking new loans, trying as soon as possible to pay off existing debts), the number of lost control over their finances too great.

It was therefore decided to follow the path of Germany, France, Finland and other countries, where the bankruptcy of individuals practiced for many years. After much debate in the law "On Insolvency (Bankruptcy)", a new chapter - "Chapter X. citizen of bankruptcy. "

Today, under the law on bankruptcy get about 580 thousand Russians, which is about 1.5% of the total number of borrowers with account opening. Also still around 6.5 million Russian borrowers who are not currently paying on their loans more than 90 days will be able to exercise this right in order to facilitate their financial situation.

United Credit Bureau

The legislative changes entered into force on 1 October 2015, relating to a huge number of people. We decided to figure out how to declare bankruptcy, and what this means.

Terms of bankruptcy

Citizen may be insolvent and must initiate bankruptcy proceedings if the amount of its outstanding loans, taxes, housing and communal services and other liabilities in excess of 500 000 rubles, and payments overdue for more than three months.

If the debt is less than half a million citizen can to file for bankruptcy. But will have to prove insolvency - is when after making monthly payments on their hands remains less than the subsistence minimum.

In addition to the debtor to initiate bankruptcy proceedings have creditors. According to experts, the credit institutions will resort to it, if suspected that a person can, but do not want to pay.

To apply for recognition of a person can even bankrupt in respect of the deceased citizen. This is important if inherited from a relative got some debts.

bankruptcy procedure

The general algorithm is as follows.

1. Citizen appeals to the Arbitration Court of the place of residence to recognize it bankrupt. The application must be supported by an impressive package of documents: the list of creditors, the amounts of debt and delinquency information, a list of existing property, the state of the bank accounts, the availability of securities and luxury goods and other data characterizing the financial state.
2. The court checks the validity of a citizen wishes to become bankrupt. Be sure to find out whether the applicant made in recent major transactions do not give away whether nephew cousin of my mother's side of the machine and garden, not copied Does anyone their bills. For trying to conceal the property and to deceive the court, at any stage of the process provides for liability, including criminal.
3. If the case will be in the production, the court will impose arrest on the property of the debtor and appoint a financial manager. Go to last the same requirements as to the control of the bankruptcy of legal entities. He will monitor the financial condition of the applicant to communicate with creditors, make a restructuring plan and, if bankruptcy is unavoidable, and to assess the implementation of the property.

So, in the case of insolvency of a natural person can be two outcomes: restructuring (have to pay anything, but it is necessary to revise the terms) or bankruptcy (no money and is not expected). Let us consider them in more detail.

debt restructuring

One of the main tasks of the financial manager - to analyze the duty of the citizen and to agree with creditors a new, real, debt repayment plan.

The purpose of restructuring - restoration of solvency. The restructuring may include reducing the amount of monthly payments, increase the term loan, vacation credit and other measures that will allow citizens to pay off debt.

But most importantly - after the court approval of the restructuring plan ceases accruing penalties (fines and penalties) for failure or improper fulfillment of financial obligations.

On the implementation of the plan is given for three years. All this time the debtor's rights are limited.

• It is impossible to make their property in the authorized capital of legal entities, as well as to acquire shares in them.
• You can not make gratuitous transactions, and compensatory and a little bit larger would have to agree to the financial manager.

However, according to experts, the restructuring is beneficial and debtors and creditors. The first will be able to ease the debt burden, the safety of property, and the second - to get at least part of the owed.

But count on the restructuring can not do everything. So, if a citizen has a conviction for an intentional crime in the economic sphere, or he brought to administrative liability for petty theft, deliberate destruction or damage of property, or was seen in the fictitious bankruptcy, the court will deny revision of debt.

You can not qualify for a restructuring, if people have already resorted to it, and from that moment has not passed eight years, or if he has been declared bankrupt less than five years ago.

In cases where restructuring is not possible, and if it is not successful, the citizen can be declared bankrupt.

You - bankrupt!

A citizen may be declared bankrupt only by court order.

After appropriate decision citizen property within six months rasprodaotsya at auction for the benefit of creditors, and the remaining debt canceled.

Sale subject to even share in the common property of the bankrupt. Lenders, for example, the right to demand to select and implement a share of the husband or wife of the apartments acquired by the spouses in wedlock.

Can not be put under the hammer:

• the only housing, including mortgage (assuming that there are minor children);
• things ordinary household items (objects of art, jewelry and other luxury items valued at more than one hundred thousand - are implemented);
• items for personal use (clothes, shoes and so on);
• property required for the professional activity (for example, the machine on which you work);
• other property to which the civil and family law can not be levied.

additional restrictions may be imposed until the completion of the implementation procedure of the property on the citizen. For example, the court may prohibit leaving the country.

The important point. Do not think that becoming bankrupt, the person gets rid of absolutely all financial obligations. Alimony debts, the recovery of moral damages or harm caused to life and health, pay still have.

Consequences of declaring itself bankrupt

The status of a bankrupt is retained by a citizen for five years.

During this time, people will be limited to certain rights. For example, a bankrupt is prohibited to hold positions in the management bodies and control them.

But the main thing - again decided to take a loan, the citizen is obliged to report the fact that he is bankrupt. However, according to experts, once to try on this label in general is unlikely to rely on loans. "Bankrupt" - a black mark in the history of credit that can put a cross on it.

Furthermore, difficulties may arise when a job. If HR-Service dig that the applicant - is bankrupt, the chances of employment fell sharply. Can there be a responsible employee of a person caught in the debt so that it was necessary to resort to filing for bankruptcy?

Problems of law enforcement

On the first day of the law on bankruptcy of physical persons, arbitration courts across the country have taken more than a hundred complaints about the failure of citizens. Down and Out trouble started. According to the Central Bank, to resort to filing for bankruptcy may be about 400-500 thousand Russians.

Despite the fact that the courts are actively preparing for the entry into force of amendments to the law on bankruptcy, problems are inevitable and will soon begin to emerge. First, the arbitration courts, in contrast to the general jurisdiction of the courts located only in regional centers. This calls into question the access to justice for the inhabitants of remote areas of Siberia and the Far East.

Secondly, according to lawyers, the ordinary citizen will be difficult to even make an application for arbitration, not to mention the fact, in order to prepare in the prescribed form required documents.

Third, and perhaps most importantly - services of financial control under the law is obliged to pay for the debtor.

A fixed amount of the financial control services - 10,000 rubles. Plus 2% of the paid debt restructuring plan, or 2% of the sold property.

The problem is to find a financial manager, willing to work for 10 thousand rubles, it will be extremely difficult. On the Internet a lot of suggestions from the professionals, ready to help the citizens to lose the shackles of credit. That's just the price tags exceed their fixed rate at times.

Financial precipice - the deepest of all the precipices, it is possible to fall in a lifetime.

Ilya Ilf, Evgeny Petrov

The law on bankruptcy of physical persons has caused many disputes in parliamentary circles. Only it changed in the last year 11 times, and may still be changes. After the entry into force of Act debate shifted to the level of expertise - economists and lawyers looking for the pros and cons of the procedure.

We offer to speak to you. What do you think about the bankruptcy of the citizens?