The State Duma proposed to ban collection activities in the Russian Federation

It is planned to prohibit the activities of collection agencies in Russia, as well as the sale and transfer of borrower's credit data by banks. This was announced on April 14 by the chairman of the State Duma Committee on Labor, Social Policy and Veterans' Affairs Yaroslav Nilov.

"We in the LDPR faction have long and consistently taken a firm position: collection activities should be prohibited," Nilov said in a Telegram message.

It is specified that the bill will also prohibit banks from transmitting information about loans to third parties, in particular, collectors. In addition, the initiative will allow the borrower to independently prohibit credit institutions from attracting collection agencies in case of arrears. According to the deputy, a person will be able to write a written request within 10 days from the moment of signing the contract.

This bill will be a call for credit institutions to collect debts on their own without going beyond the legal framework.

"These may be debt reminder calls, a decision to restructure and partially repay the debt, or an extension of the loan agreement," the explanatory note says.

It is noted that at the moment there are 520 officially registered collection agencies. Nilov added that "the current psychological pressure and terrorization" of people should be legally prohibited.

Debt relief: demand for debt collectors has doubled in Russia

Will this increase the pressure on the clients of banks and microfinance organizations

On February 5, it was reported that in Russia they want to ban the transfer of consumer loan debts to collectors. This solution will allow citizens to reduce communication with collectors to a minimum, thereby reducing the debt burden without the participation of "debt bouncers".