Bailiffs massively refuse to collect debts from Russians

Collectors have been refusing to collect debts since mid-March
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Since mid-March, collectors, banks and microfinance organizations have been struggling to raise money to collect debts from individuals through the Federal Bailiffs Service (FSSP). This was announced by the President of the National Association of Professional Collection Agencies (NAPCA) Elman Mehdiyev.

“Collection agencies were the first to report the problem on March 18: they noticed a drop in transfers of up to 50% compared to previous similar periods. Microfinance organizations are talking about a drop in transfers to one third. Even systemically important credit institutions are talking about a drop in transfers to 5% week by week, “Mehdiyev said at an open emergency congress on recovery, RBC reports. The amount of debt is determined by 120 billion rubles, the publication notes.

After the start of a special operation in Ukraine and the imposition of sanctions against Russia, Russian leader Vladimir Putin signed decrees on retaliatory restrictions on operations with residents of “unfriendly countries.” The publication notes that this does not directly affect the recovery of debts. After that, bailiffs in some regions began to block the transfer of money in favor of banks.

Earlier, the State Duma proposed to ban the sale of overdue debts of Russians to collectors. The Fair Russia – For the Truth party introduced the bill in early March. They said it would help solve the problems of people who cannot pay their debts due to their difficult financial situation.

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Since mid-March, collectors, banks and microfinance organizations have been struggling to raise money to collect debts from individuals through the Federal Bailiffs Service (FSSP). This was announced by the President of the National Association of Professional Collection Agencies (NAPCA) Elman Mehdiyev. “Collection agencies were the first to report the problem on March 18: they noticed a drop in transfers of up to 50% compared to previous similar periods. Microfinance organizations are talking about a drop in transfers to one third. Even systemically important credit institutions are talking about a drop in transfers to 5% week by week, “Mehdiyev said at an open emergency congress on recovery, RBC reports. The amount of debt is determined by 120 billion rubles, the publication notes. After the start of a special operation in Ukraine and the imposition of sanctions against Russia, Russian leader Vladimir Putin signed decrees on retaliatory restrictions on operations with residents of “unfriendly countries.” The publication notes that this does not directly affect the recovery of debts. After that, bailiffs in some regions began to block the transfer of money in favor of banks. Earlier, the State Duma proposed to ban the sale of overdue debts of Russians to collectors. The Fair Russia – For the Truth party introduced the bill in early March. They said it would help solve the problems of people who cannot pay their debts due to their difficult financial situation.

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