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THE MINISTRY OF JUSTICE PROPOSED TO IMPOSE FINES OF UP TO 2 MILLION RUBLES FOR THE OBSESSION OF COLLECTORS

The Ministry of Justice has developed amendments to legislation providing for the introduction of penalties of up to 2 million rubles for microfinance organizations (MFOs) and collectors for intrusive calls or messages to debtors. Currently, the activities of collectors, in particular their interaction with debtors, are strictly regulated by law, however, the law does not provide for any sanctions for violation by the recoverer ...

COLLECTORS WILL BE ABLE TO COMMUNICATE WITH DEBTORS THROUGH PUBLIC SERVICES

Collectors will have the opportunity to communicate with debtors through Public Services. The relevant amendments to the law will take effect on February 1, 2024. In addition, the law, which comes into force next month, allows the parties to meet, communicate ...

COLLECTORS FROM "UNFRIENDLY" COUNTRIES MAY BE BANNED FROM WORKING IN THE RUSSIAN FEDERATION

... abroad. In addition, this should exclude the possibility for these individuals to collect personal data of Russians and put pressure on them. As the RBC publication notes, the project has already been supported by the National Association of Professional Collectors (NAPCA). According to her representative, this will help bring order to the industry related to debt collection. Over the past few years, many Western founders of collection structures have already left the Russian business. In September 2023,...

BANKS SOLD RECORD AMOUNT OF DEBTS OF RUSSIANS TO COLLECTORS

The third quarter of 2023 has already been marked by a record number of overdue debts of individuals. The total amount was 75 billion rubles. This is more than 97% of all debts put up for sale. In total, during the period from July to September, banks put up for sale about 77.2 billion rubles of overdue debts. In the first half of the year, credit institutions tried to realize debts totaling 124 billion, but no more than 88.7% were repurchased. Such a high turnover in the sale of overdue debts may...

THE MINISTRY OF JUSTICE WANTS TO INTRODUCE NEW FINES FOR COLLECTORS

The Ministry of Justice has developed a draft of the next amendments to the Code of Administrative Offences aimed at regulating the activities of collectors. In particular, additional fines may appear for the lack of equipment for recording conversations. Currently, the unscrupulous activities of collection agencies are already being punished under the Administrative Code, for example, for ...

BAILIFFS HAVE THE RIGHT TO INDEPENDENTLY PUNISH COLLECTORS FOR VIOLATIONS

Bailiffs have the right, by their own decision, to impose sanctions against collectors-violators. This statement was made by the First Cassation Court of General Jurisdiction. Similar edits were made to the law the day before. However, not all bailiffs began to act in accordance with the innovations. For example, in one of ...

THE SUPREME COURT SUPPORTED THE RELATIVES OF THE DECEASED DEBTOR

... rubles, a statement from the creditor bank was required, which was indicated in the contract by the beneficiary. The bank itself did not apply to the insurance company, having transferred the obligations on loans of the deceased citizen to the local collectors. The collectors, who applied to the court, mistakenly believing that the daughters became heirs and had to pay their mother's debts, lost the case. The primary instance indicated that the bank was eligible for insurance and dismissed the claim....

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