Banks urged not to issue loans to bankrupt customers for 10 years

Financial organizations are asking to tighten the terms of lending to bankrupts, prohibiting them from making loans for not 5, but 10 years upon completion of the procedure. This is stated in a letter from the Association of Russian Banks to the Chairman of the State Duma Vyacheslav Volodin, which was reviewed by Izvestia.

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The Association proposes not to release bankrupt citizens who do not work and do not try to improve their financial situation, as well as those who have assumed obviously unaffordable credit obligations. The ARB also asks not to automatically write off debts to customers who do not give objective reasons for losing money — it is better to send these cases for additional review to financial institutions.

However, so far the volume of write-offs for bankruptcies is small. The authorities disclose the total amount only through an out-of-court procedure: for the entire time of its operation, people have been forgiven debts of 7 billion rubles, follows from the data of Fedresurs. For comparison, the total loan portfolio of citizens is several times larger — about 37 trillion rubles.

As measures to combat unfair lending, banks are already using legal mechanisms (granting loans secured or guaranteed) and economic instruments (forming reserves for problem loans with their issuance at increased rates), said Dmitry Zikratsky, director of the legal department of the crypto broker Cifra Markets.

Read more in the exclusive Izvestia article:

To lend strictly: banks urged not to issue loans to bankrupt customers for 10 years