On April 21, the Russian government intends to discuss expanding the categories of citizens who will be allowed to cancel their debts out of court.
“The bill aims to expand the categories of citizens who have the right to file an application for declaration of extrajudicial bankruptcy of a citizen,” the press service of the Cabinet of Ministers said in a statement.
Russian President Vladimir Putin has asked to raise the maximum debt threshold from 500,000 to one million rubles, at which the debtor can initiate out-of-court bankruptcy proceedings. He was instructed to reduce the minimum bar from 50,000 rubles to 25,000 rubles.
earlier it was reported that a draft law on self-prohibition of lending had been submitted to the State Duma for consideration. If the document is accepted, the bank will not be able to require the borrower to fulfill his obligations under the agreement if he has established a ban on lending.
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