The law on bankruptcy is a way to get rid of debts?

A real breakthrough from a socialist economy to a market economy in the 1990s was the bankruptcy law of enterprises. He allowed forms to get rid of unbearable debts, literally rising from the ashes. Of course, at the same time, the interests of those to whom the organization owed were violated, including, debts to employees were not always paid. But if the enterprise had at least some reserves for survival, the bankruptcy procedure allowed it not to go to the bottom, not to close only because money was not found on time to pay taxes or interest on the loan to the bank.

The bankruptcy law created a new profession - a competitive or arbitration manager. And led to the fact that the business has learned to deftly use this tool. There was even a concept - deliberate bankruptcy, which is punishable by law. But, perhaps, nowhere were there so many tragic consequences from the bankruptcies of organizations, as in the construction sector. When the developer goes bankrupt, at least a few dozen people suffer, who trusted him with their considerable and, often, the last money.

Therefore, it is quite logical that relatively recently there was another law - the bankruptcy of the developer, which gives hope to the participants of unfinished construction. Their demands for debt recovery are now accepted by the arbitration court. And people have a real chance to get into the collective ownership of the unfinished building and even (subject to a number of conditions) subsequently finish it. The regions are now developing their own laws based on changes made to federal legislation.

But, perhaps, the most radical can be another law on bankruptcy. It is about writing off the debts of individuals. The consumer lending boom did not pass without a trace - people are used to buying without money, that almost any thing you like can be purchased on credit. But they can not always cope with the consequences of their decisions. Having collected credits, many find out that the necessary payments substantially exceed their financial capabilities, and begin to hide from banks. But if a person got into such a situation without intent, then he could be seriously helped by a special law on bankruptcy.

The question arises: when will the law on bankruptcy of individuals be adopted? At the moment, you can not give an exact answer. At the end of 2012, the State Duma adopted this law in the first reading. The project assumed that the bankruptcy procedure can be applied to a citizen with a debt of more than 50 thousand rubles (if its term is more than 3 months). This action takes place at the request of the debtor himself. In addition to the "forgiveness" of debts, some sanctions are applied to it, for example, it will be necessary to part with all licenses for the entrepreneur, and over the next 5 years it will be necessary to report to the bank (when applying for another loan) that he went bankrupt. It is supposed that this should scare off unscrupulous citizens, but provide an opportunity to make ends meet for conscientious, in general, consumers.