The Deputy head of the Central Bank: the law on bankruptcy of individuals did not create any hype

MOSCOW, October 14. The entry into force in Russia the law on bankruptcy of individuals has not caused excitement among the borrowers. On Wednesday on air of TV channel “Russia 24” said the Deputy Chairman of the Bank of Russia Alexander Torshin.

“The first results are expected very different – thought will turn. But this did not happen,” – said Torshin, noting that in Moscow on the first day of action of the law on bankruptcy of physical persons there were only 108 applications.

October 1, in Russia came into force the law on bankruptcy of physical persons, according to which citizens who are unable to pay banks for loans, can remove the burden of debt by declaring themselves bankrupt. Previously, the law “On insolvency (bankruptcy)” allowed to do this only in respect of legal persons.

The arbitral Tribunal may start the procedure of bankruptcy of the citizen, if the debt exceeds 500 thousand rubles, and demand for payment of debt is not executed within three months. In the court Declaration of bankruptcy may be treated as the citizen, and the bankruptcy Trustee or the authorized body.