Putin appointed regulators collection market

President Vladimir Putin signed a decree on the transfer of the regulation of the collection agencies to the Ministry of justice and the Federal bailiff service (FSSP). The document was published on Thursday, December 15, on the portal of legal information.

According to this document, the Ministry of justice will regulate the collection market, and FSSP — maintain a public registry of collection agencies. In addition, the FSSP will develop including the waiver of the debtor from the interaction with the claimant, the software requirements and the format for reporting collection agencies, the text of the decree. The government should consider the potential costs of the implementation of the decree during the adjustment budget for 2017-2019, the document says.

As previously mentioned, in early October, the national Association of professional collection agencies (NAPCA) was sent to first Deputy Prime Minister Igor Shuvalov with a letter asking to expedite the appointment of the regulator of the market and the preparation of regulations, without which it accepted 230-FZ on protection of rights of individuals when collecting debts will not be able to start on 1 January 2017. The Association explained the delay in the adoption of documents “bureaucratic hitch”.

230-FZ restricts collection activity: in particular, professional debt claimants will not be able to disturb the debtors with phone calls more than once a day and often two times a week, and the calls themselves must not be provided at night (from 22:00 to 8:00). Personal meetings between the collector and the debtor should not be held more than once a week. The law prohibits collectors to hide the phone number from which they call the debtor, the same requirement applies to the e-mail address. The documents and recordings proving the communication of collectors with debtors, should be kept three years.

In this 230-FZ, signed by the President July 3, 2016, requires that all collection agencies from 1 January 2017 to enter in the state register. In early December in a press release issued NAPCA, said that “an authorized body will not have time to publish the necessary regulations, collection agencies will not have time to bring their documents into compliance with these requirements, and banks and MFIs — to amend credit agreements and to prepare for new standards of communication with borrowers.”

Told the President of NAPCA Alexey Savatyugin, this week, after Putin’s decree should reach the decision of the government, which delineate the area of responsibility of the Ministry of justice and the Federal bailiff service for control over the collection market. “The market there is great concern that they will not have time to bring their activities into compliance with the new requirements,” he said.

According to Savatyugin, the date of entry into force of 220-FZ should be moved, but on the decision of the authorities he does not expect. “However, if all the necessary regulations are developed, there is a fear that the first quarter of 2017 will be difficult for the collectors and debtors. For example, if you do not appear form of refusal to communicate the debtor with the collector, borrowers that will be difficult to do,” said Savatyugin.

According to the Bank of Russia, to November 1, 2016 overdue debts of individuals to banks amounted to 892,77 billion rubles For the year it has increased more than 22 billion rubles, follows from the information on the website of the Central Bank.