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FINANCIAL OMBUDSMEN WILL BE INVOLVED IN HELPING DEBTORS

The Public Council under the Financial Commissioner's Office is preparing a draft law on the participation of a financial ombudsman in the pre-trial settlement of disputes on loan debts between banks and citizens. This is not his authority at the moment. As explained by Financial Commissioner Viktor Klimov, on average, 1.8 loans per citizen, over 11 million people have three or more loans. According to Klimov, in case of default,...

THE CENTRAL BANK INTENDS TO TIGHTEN ITS APPROACH TO CREDIT RISKS

The Bank of Russia is going to join the fight against unfair credit risk management, when financial institutions transfer debt from problem borrowers to third parties to conceal real risks. The Central Bank has published on its website a draft amendment to Regulation No. 590-P, which defines the procedure for the formation of reserves for theoretical loan losses. The draft ...

BORROWERS WILL BE WARNED ABOUT THE CRITICAL GROWTH OF DEBTS

... (MFOs) are required to calculate the debt burden indicator (the ratio of monthly payments on all loans to the client's income) for each possible borrower. If the indicator is more than 50%, then the citizen should be warned about the risks. However, how credit institutions will inform Russians about the high debt burden is not yet very clear. RBC has sent a corresponding request to major Russian banks. Most of them did not give an answer, there is no uniform practice of informing Russians about those "increased debt risks" yet. At the same time,...

THE EMPLOYEE OF THE DEPARTMENT OF INTERNAL AFFAIRS WENT BANKRUPT, BUT REMAINED WITH DEBTS OF 2.5 MILLION

An employee of the Cherepovets police (Vologda region) was declared insolvent with debts of 2.8 million rubles. In the bankruptcy process, 12% of creditors' claims were satisfied. However, the arbitration, completing the procedure for the sale of her property, left her with debts of 2.5 million rubles. The court decided that the woman had abused her right and resorted to deception. It turned ...

THE NUMBER OF RUSSIANS WITH LOANS HAS REACHED 50 MILLION

... citizens to be a risky phenomenon. So, starting in 2019, banks and microfinance organizations must calculate the indicator of the borrower's debt burden – the ratio of payments on all available loans and borrowings to the average income of a citizen. The debt load indicator is directly proportional to the credit load of a person. Based on this indicator, limits on the issuance of loans and macroprudential allowances are formed (risk coefficients used in assessing loans issued: the higher the indicator of the borrower's debt burden, the greater the surcharge,...

THE SUPREME COURT RESOLVED THE DISPUTE ON THE RETURN OF A PREFERENTIAL LOAN DURING THE REORGANIZATION OF A LEGAL ENTITY

... credit line for 2.7 million rubles was opened for the Dimark Profi medical center in Sberbank in order to restore the organization's operability. Repayment was supposed to take place from April to June 2021. The rate before the repayment period on the credit line was 2% per annum, at the repayment stage – 15%. The agreement provided for the possibility of writing off the loan debt subject to a number of conditions, among which were the following: "During the observation period, the number of employees of the borrower at the end of each reporting month should be at least 80% of the number of its employees as of 01.06.2020....

SPECIALIZED COMPANIES HAVE THE RIGHT TO INCLUDE A CLAIM FROM A CONSUMER LOAN

... favor of the company is impossible due to the fact that it is not one of the persons clearly defined in the law on consumer lending, therefore, the assignment agreement is null and void and cannot give rise to legal consequences, including granting the creditor the rights of claims to the debtor. The judicial acts of the lower courts were annulled by the cassation instance, and the dispute was sent for a new consideration (the Decision of the Arbitration Court of the West Siberian District of 27.09.2023 in case No. A27-11994/2022). The ...

THE STATE DUMA INTRODUCED A DRAFT ON THE RIGHT OF RUSSIANS TO INTRODUCE A SELF-BAN ON ISSUING LOANS

The bill on the right of a citizen to establish in his credit history a ban on the conclusion of consumer loan (loan) agreements with credit and microfinance organizations with him has been submitted to the State Duma of the Russian Federation. A group of deputies headed by the Chairman of the Financial Market ...

THE LARGEST FISH PROCESSING PLANT IN THE NORTH-WEST HAS STARTED BANKRUPTCY

... increased by 19%, reaching 7.2 billion. However, in February last year, the company faced sanctions from European countries. The credit burden has not decreased, and working capital is in short supply. The delivery time of raw materials has increased. Debt to creditors reached 3.8 billion. At the same time, the company's management failed to reach an agreement with credit institutions and authorities promptly. Employees of "ROCK-1" (about 200 people) had to be sent to idle on October 1, 2022, stopping ...

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