Debt and path: more than 60% of bankruptcies in 2025 could have been avoided
More than 60% of bankruptcies in 2025 could have been avoided, market participants told Izvestia. Last year, borrowers began to turn more often to so—called borrowers - companies and lawyers who make money by driving Russians to bankruptcy. Credit organizations see this as one of the main reasons for massive loan defaults, and the Central Bank is also working on the problem. In the end, the clients of the "borrowers" may not only lose the opportunity to take out new loans for years, but also face serious problems with finding a job and even renting an apartment. What to do if bankruptcy seems to be the only way out — in the Izvestia article.
Who are the "loan sharks"?
With timely access to the lender, more than 60% of cases of financial ruin of citizens in 2025 could have been prevented, representatives of banks said. According to the Federal Resource, last year the number of citizens declared insolvent reached 568 thousand people, which is 31.5% more than in 2024. In many ways, this growth is due to the work of the so-called loan sharks, who make money from the desperate situation of Russians.
A lot of unscrupulous players have appeared in the market of overdue debt management services, the press service of the Central Bank reported. "Loan sharks" mislead people by promising complete relief from obligations or the preservation of property, although these results cannot be guaranteed in advance.
—Such companies often say in their advertisements that it is possible not to pay loans immediately after contacting them," the press service of the Central Bank explained.
The Bank of Russia described the basic scenario of the "loan sharks". Often, a person with debts turns to an intermediary, who convinces him that bankruptcy is the only and safe way out. After paying for the services, the client is helped to file an application with the court, and then they actually disappear from the process, although the borrower could have done the same step independently and for free. At the same time, the regulator emphasizes that there is no complete debt relief, and the insolvency recognition procedure itself should be used only in extreme cases.
The average bill for the services of "loan sharks" is about 200 thousand rubles, and often the cost of "assistance" exceeds the amount of debt, said financial adviser Alexei Rodin. They are paid for mainly from the funds of a new loan, which is being pushed by the "specialists" themselves.
Market participants call the work of "loan sharks" one of the main reasons for the increase in the number of bankruptcies of Russians in 2025, as reported by representatives of Sberbank, VTB, Dom.Russian Federation", PSB and Novikombank, as well as the National Association of Professional Collection Agencies (NAPCA).
Aggressive advertising plays a major role in popularizing bankruptcies, as previously pointed out by the Bank of Russia, said Dmitry Gritskevich, Head of Banking and Financial Market Analysis at PSB. There is a clear trend in the market — customers prefer to go through bankruptcy proceedings without considering alternative ways of paying off debts, Novikombank's press service added.
In the Dom bank.The Russian Federation notes that more than half of bankruptcy procedures could have been avoided if the borrower had applied to the bank early and used debt settlement tools, and VTB estimates this share at 70%.
"Over 90% of clients who went through bankruptcy proceedings turned to intermediaries, and a significant part of them collaborated specifically with borrowers," the VTB press service clarified.
This suggests that in many cases bankruptcy becomes not a forced measure, but an imposed scenario, concluded Vladimir Chernov, analyst at Freedom Finance Global.
In 2025, situations have become more frequent when borrowers themselves initiate bankruptcy without delinquency on a mortgage, hoping to save housing, but the promises of "borrowers" that this will work are usually unfeasible, said the director of customer service and foreclosure at Dom Bank.Russian Federation" Kirill Malinovsky.
Why have "extensions" become popular
The demand for such services was formed due to aggressive and intrusive advertising with promises of complete debt relief, the press service of NAPCA reported. As a result, such marketing directly influenced a sharp increase in the number of bankruptcy procedures among individuals.
Last year, 74% of Russians aged 22 to 50 heard about the services of "loan sharks," but only 19% were able to correctly assess the essence and risks, said Alexey Rodin. The volume of this market is estimated at more than 70 billion rubles per year.
The "loan sharks" appeared against the background of high creditworthiness of the population and simplification of debt cancellation procedures, explained Vladimir Chernov. Demand is fueled by fear of collectors and courts. It is morally easier for financially illiterate people to pay an intermediary for a promise to solve all problems than to deal with negotiations with banks.
The growth of such procedures is also associated with expensive loans and debts of previous years, Vladimir Chernov added. In 2023-2024, many actively borrowed funds, but in 2025, income growth slowed down and could even decrease in real terms.
Consequences for borrowers
The bankruptcy status is reflected in the registers and remains in the credit history for at least seven years, according to the data of the United Credit Bureau (OKB). The probability of approving a new loan in the future is estimated at 3%. At the same time, such a client will be considered risky, which means that the loan rate will be higher, the term will be shorter, and the total amount will be less.
Mortgages and car loans are practically inaccessible to bankrupts, the OKB added.
In addition, there are difficulties with renting housing, participating in business and finding employment, especially in the financial sector, said Vladimir Chernov. Large landlords and employers are increasingly checking candidates using open databases, and the fact of bankruptcy is perceived as a sign of instability.
How to avoid bankruptcy
According to the OKB, in the fourth quarter of 2025, banks reviewed the terms of more than 900 thousand loan agreements. In most cases, customers were granted deferrals, late fines were canceled, or payments were temporarily reduced. During the year, Sberbank alone settled obligations for 211 billion rubles.
A trend has already formed in the foreclosure market to reduce the number of clients choosing bankruptcy among companies with a flexible approach and willingness to negotiate, the NAPCA said.
The Bank of Russia recommends contacting the lender immediately at the first difficulties. Today, credit and mortgage holidays, restructuring and refinancing are available.
When a person has several loans from different banks and MFIs, the situation becomes more complicated, but there is a solution for this. Since 2023, the standard for comprehensive debt settlement has been in effect: the borrower can contact his bank and ask to negotiate with all creditors at the same time, the whole procedure takes about 30 days.
The problem is that the standard is voluntary and only a part of the market has joined it, so it is proposed to make it mandatory, the Central Bank said. The bill is already being considered in the State Duma: if a delay occurs, the creditor must first propose a comprehensive settlement, and the interaction between the participants will go through the BCI.
Additionally, a law came into force prohibiting unfair advertising of bankruptcy procedures, the NAPCA recalled. This measure will deprive the "loan sharks" of their main tool — aggressive advertising of their services.
In addition, "loan sharks" can theoretically be held accountable, said the partner of the Pen bar Association. & Paper by Alena Grishkova. Their work often involves misleading clients, which may fall under the article on fraud. In such cases, it is necessary to file a police report in order to initiate criminal prosecution.
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