RUSSIAN BANKS VOTED FOR PROHIBITION OF ADS RELATED TO BANKRUPTCY

The Federal Antimonopoly Service received an appeal from Russian banks – their representatives demand amendments to the law on advertising in order to protect individuals from the consequences of simplified bankruptcy. Now many organizations declare this service as a "bailout from debt", without specifying the way it threatens Russians.

As it was reported by RIA Novosti, the letter was sent by the Association of Russian Banks. The representatives of the banks are worried about the large number of “debt-relievers” appearing in the market - these dubious mediators advertise their services online and offline. However, the organizations do not mention what risks face the citizens, who decide to get rid of debts through the procedure of out-of-court bankruptcy.

Banks are in favor of fully informing Russians about all the aspects of this procedure, including the risks and negative consequences.

The Association suggested that the FAS add amendments to the law "On Advertising" so as not to mislead the citizens. First of all, banks consider unacceptable promises to terminate financial obligations, using the wordings that cause misunderstanding and, as a result, serious problems for bankrupts. What is more, it is necessary to indicate the prices for the services offered.

Banks recalled that Russians are liable for obligations with all their property, including those acquired in marriage - it is important to report this. Along with it, the service recipients should be aware of all the negative aspects that will affect them after bankruptcy.

The procedure for out-of-court bankruptcy of citizens has been introduced in Russia on September 1, 2020. Under such a procedure, Russians can file for bankruptcy without a trial and without the participation of a bankruptcy manager, by submitting an application to MFC.