What is important to consider when going bankrupt in 2024? Automatic translate

With the advent of 2024, many new rules will appear in the lives of Russians. And one of these innovations is the bankruptcy procedure . Now it will become easier for many people who are in a difficult financial situation.

Reference! By mid-2023, the amount of unpaid consumer loans in Russia crossed the 2 trillion ruble mark.

Unfortunately, not everyone can pay their loan on time. Some find themselves in a difficult financial situation. They have to look for another way out. And he is. The legal way is to write off debts through bankruptcy proceedings. If you want to get rid of all your loans for sure, be sure to contact competent lawyers for bankruptcy advice.

What will change globally for a potential bankrupt in 2024

First, we list the basic changes that affect a wide range of people. These amendments began to take effect at the end of 2023, but judicial practice under the new rules has only appeared now.

What changed:

1. The pre-trial bankruptcy procedure is now available to debtors if their debt ranges from 25,000 to 1,000,000 rubles. Previously, this range was from 50,000 to 500,000 rubles.
2. A larger circle of people who can declare themselves bankrupt. In particular, now pensioners and parents who receive benefits for a newborn child can become such citizens. Naturally, such persons should not have additional property with which to pay off the debt.
3. Repeated appeal. Now you don’t have to wait 10 years to declare yourself bankrupt out of court again. Under the new rules, this period has been reduced to 5 years.
4. Fewer certificates. Starting from July 1, 2024, citizens will not have to prepare a large package of documents on their own. In particular, the MFC will independently make a request about the amount of a pension or child benefit, and will also clarify the timing of the writ of execution and its execution.

It is important to understand that the debtor should not have any assets that generate income for him. For example, an additional apartment that brings in money from rent, a savings bank account. The same rules apply to your spouse.

What may change in bankruptcy cases in 2024

Let’s look at the bills that are likely to come into force in 2024:

1. Preservation of the collateral agreement if we are talking about the only housing. This rule applies to mortgage loans when the borrower has a home as collateral. The bill assumes that living space will not be seized under the contract if the bank client provides payments through the help of a third party (guarantor or relative). These cases will be considered through bankruptcy proceedings. Previously, such disputes were resolved, as a rule, in favor of the bank.
2. Preemptive right to purchase property. Today, a bankrupt can have his share in property taken away and then put it under the hammer. The new rules will slightly change the public auction procedure. Now the remaining participants in shared ownership will be able to participate in the purchase of the share, but with one important condition. They will need to deposit a certain amount, which will be determined after the end of the auction. If the winner does not want to enter into an agreement or the auction itself is declared invalid, the pre-emptive right will be exercised at the starting price. This approach is considered to be more balanced than that established by the current position of the Constitutional Court of the Russian Federation.

Important! Bills on the borrower’s only housing and the right to buy out a share in the property are still undergoing readings in the State Duma. Most likely, they will be accepted this year, which will greatly simplify the life of the borrower, and will also make the procedure for selling assets more transparent.

What to pay attention to

There are a number of other innovations that also relate to the bankruptcy procedure. Most of them came into force at the end of 2023. Not all borrowers are aware of these changes. We have collected the most important of them: