Last year, almost 30 thousand applications were filed, which were submitted with the aim of starting a bankruptcy procedure in favor of the applicants.
Recall that the bankruptcy law began to work actively since 2015. According to the rules, a citizen who has debts worth more than 500 thousand and has a delay of more than 90 days has the right to declare himself bankrupt. In addition, the bank or the organization that issued the loan or tax authorities can start the procedure. If the amount of the debt is somewhat less, and the sale of the property held by the debtor will not allow to pay off the debts, you can also apply for an application.
How is the bankruptcy procedure?
After collecting all the necessary documents, you should apply to the arbitration court, where you can file for bankruptcy, before paying the state duty of 300 rubles. Keep in mind that in case of a positive decision, it will be necessary to pay for the services of an arbitration manager, which is estimated at 25 thousand rubles.
Bankruptcy procedure takes a lot of time – from six months to 12 months. During this period, the debtor is appointed arbitration manager, he will be entitled to dispose of all available funds, bank accounts and property. In addition, his duties include tight communication with creditors, he will have to restructure debts, and maybe even make amicable agreements with some creditors.
In some cases, the decision is made to sell off all the property, except that in this case prohibits the law, and transfer the proceeds to creditors. You should be aware that all transactions conducted by the borrower over the past three years can be canceled by law. Therefore, there is no point in trying to change the owner to friends or relatives. In addition, the arbitration manager may press charges against the borrower for deliberately bankrupt or concealing property.
Of course, even if the bankruptcy procedure helps to deal with the financial problems that have come, getting the status entails negative points. Having the status of a bankrupt will not be able to occupy a leadership position, will receive a ban on leaving the country during the entire time that the procedure lasts. In addition, the citizen will be obliged to indicate the early receipt of such status if he needs to take a loan or loan in the future. And his credit history will be ruined forever and it is unlikely that there will be an opportunity to improve it.