MOST RUSSIANS INITIATE BANKRUPTCY ON THE ADVICE OF BORROWERS

Up to 90% of debtors in Russia turn in one way or another to intermediary companies engaged in "solving problems" with overdue debts. A significant part of borrowers recommends that citizens go through bankruptcy proceedings, often aggravating the borrower's situation, said Anastasia Lyapunova, head of the bankruptcy and Corporate Disputes department at the law firm Lyapunov, Terekhin and Partners. According to her, the insolvency procedure is an extreme measure that should be applied only in exceptional cases.

So, over the past year, more than 390 thousand citizens filed for bankruptcy in the courts. For comparison, in 2022 there were 22% fewer such appeals to the courts. The relevant statistics were published by the Supreme Court of the Russian Federation. At the same time, as Vedomosti writes, borrowers with overdue consumer loans, microloans and credit cards usually turn to these borrowers.

Denis Kuznetsov, Director of the Retail Recovery and Settlement division of Sberbank, emphasizes that almost every debtor has the opportunity to get out of debt without going through the insolvency procedure. Experts remind that it is possible to settle debts through obtaining credit holidays, concluding a settlement agreement or restructuring.