What is the price of bankruptcy of an individual?

In 2015, a law appeared that allowed any citizen of the Russian Federation to declare bankruptcy, this was a good solution to the insolvency problem. What is the price of bankruptcy of individuals? Undoubtedly, this allows you to solve problems with debts, helps to avoid a debt hole. Previously, only legal entities could declare bankruptcy, but now it is available to individuals.

What is it?

Russian law defined bankruptcy as the official announcement of the debtor about the impossibility of paying loans in full. Bankruptcy price nat. persons - bankruptcy of the physical property values ​​of the debtor. The main purpose of bankruptcy is to satisfy the needs of creditors at the expense of the debtor's property values, in other words, to restructure the debt or to reach an agreement between both parties.

Bankruptcy of an individual is a measure to get rid of a debt burden in accordance with legislative norms. That is, any citizen can declare himself bankrupt, you only need to act within the framework of the law. Insolvency of an individual involves the application of one of two actions described below.

When bankruptcy is not realized:

• single housing (exception: mortgage housing);
• transport for the main labor activity;
• equipment that is used for work;
• state bonuses;
• household objects that are necessary for a full life.

The recoverable property is sold through bankruptcy proceedings, the debt is repaid with these funds. If there is not enough money from the sale of property, then part of the outstanding debt is written off.

Procedure

In the Russian Federation, only an arbitration court can decide on the bankruptcy of an individual. In order to begin bankruptcy, you must fulfill 2 important conditions:

1. The amount of financial debt should be more than 500 thousand rubles.
2. Debt repayment should be overdue for more than three months.

An individual may declare bankruptcy no more than once every 5 years. Also in Russia there is a criminal term for intentional bankruptcy, it can be up to 6 years.

Bankruptcy Documents

At the initial stage, an individual draws up an application and collects documents, after which you can file an appeal with the arbitration court.

Package of documents:

1. Original and copy of passport.
2. Certificate of marriage, in case of divorce - a certificate of divorce.
3. If the family has a child, a birth certificate or a child’s passport (if the child is an adult).
4. Original TIN.
5. Original SNILS.
6. Information on the presence or absence of the activities of an individual entrepreneur.
7. Documents confirming the financial situation: property, bank accounts, certificate 2-NDFL.
8. Documents on debt instruments.

The application is made in any form, it is important to indicate the reasons for which debt obligations arose, as well as details of creditors. The application is submitted to the arbitration court at the place of residence.

Arbitration Court Actions

If all the documents are presented correctly, and the debtor's application is recognized as reasonable, the arbitration court puts the debtor in the database of the federal bankruptcy register. Within the next 60 days after entry in the register, the arbitration process manager is obliged to inform all creditors of the debtor about the bankruptcy process and schedule a meeting of creditors.

An individual can submit a debt restructuring plan for a period of three years to creditors, but such a procedure is possible if the debtor has a stable monthly income and there were no bankruptcy procedures before, and there is no criminal record for articles of economic crime.

After a meeting of creditors and consideration of a possible debt restructuring plan, the decision is submitted to the court. If the court confirms the restructuring plan, then the enforcement proceedings are stopped, penalties for debts are not charged.

But the price of bankruptcy of individuals through debt restructuring is such that there are some restrictions:

• transactions cannot be made free of charge.
• You can not buy shares.
• You can not make finances in the authorized capital of legal entities.
• You cannot buy and sell any property worth more than 50 thousand rubles.

If the restructuring process is not possible, the arbitration manager is obliged to inform the judge who will decide to declare the individual bankrupt.

Realization of property of an individual

In the course of preparing the debtor’s property for sale, the arbitration manager must draw up its complete list, according to which debt restructuring can be implemented under the laws of the Russian Federation. Comprehensive information should be given about each item of property: its value, depreciation and other factors. The sale of property is carried out through open bidding.

To protect the rights of an individual, it is impossible to sell the following property:

• housing in which the debtor and his family live;
• if the debtor is disabled, then it is impossible to sell his vehicle;
• if the debtor’s housing is a private house, then it is impossible to sell the land on which it is located;
• food products;
• personal belongings of the debtor (clothes, shoes);
• property used by the debtor for profit, but its price should not be more than 100 minimum wages;
• Pets;
• seed crops for sowing;
• fuel materials for heating homes;
• prizes, personal awards of the debtor.

Component Bankruptcy Prices

The bankruptcy procedure raises the question of what is the price of bankruptcy of an individual. You should be aware that the following items are payable:

1. Filing an application with the arbitration court.
2. Payments for the work of a financial manager.
3. Information for lenders through a newspaper ad.
4. Submission of information on the website of the federal bankruptcy registry.
5. Other additional costs.

The price of bankruptcy of individuals can be quite large. But the outcome of the case depends on the skill level of the hired specialists.

Application

How to bankrupt individuals? The price of an application is of interest to many debtors. The application procedure is not only its writing, but also material costs. Need to pay:

• state duty - 6000 rubles;
• The initial stage of the financial manager's work is 25,000 rubles. Previously, this amount was 2.5 times less and amounted to 10,000 rubles.

The work of the financial manager

Material payment for the activities of a financial manager is carried out not only at the first stage of bankruptcy, but is also carried out for each stage:

• debt restructuring process - 25,000 rubles;
• the process of selling the property of the debtor - 25,000 rubles;
• Signing an agreement with creditors - 25,000 rubles.

In addition to the amounts indicated, 7% of the debts paid to creditors for the restructuring of property, or 7% of the total amount received upon sale of the property, is paid.

Example: 2,000,000 rubles — the total amount from the sale of property amounted to a financial manager: 2,000,000 * 7% = 140,000 rubles.

Publication of an advertisement in a newspaper

The price of bankruptcy of an individual also consists of the publication of an announcement for creditors. The following data is published:

• creditors are notified of the decision on the restructuring or the beginning of the restructuring process;
• information on declaring the debtor bankrupt.

In the event that a negative decision was made according to the restructuring plan, the newspaper advertised for creditors only once, the price is about 10,000 rubles. And if there is a restructuring process, two announcements will be needed, respectively, the amount will increase by 2 times.

Information on the website of the federal bankruptcy registry

There is a portal to the federal bankruptcy registry. It is on this site that all the data on the bankruptcy of individuals is published, there you can freely track information on any individual (unless, of course, it was declared bankrupt).

The number of publications is determined during the trial. The price of one publication is 400 rubles.

Other expenses

The price of bankruptcy of an individual consists of additional costs:

• mailing (to alert lenders);
• bank services (commissions, etc.);
• costs of bidding property.

There is no fixed amount, you can only judge by statistics. In practice, the cost of additional services does not exceed 10,000 rubles.

Applying for a service

If the debtor independently deals with declaring himself bankrupt, then for starters it is worth contacting the arbitration court at the place of residence. There they issue a receipt for paying the state fee and a receipt for paying the services of a financial manager.

If an individual decides to use the services of a lawyer, then you need to make an appointment with a law firm. It should be understood that the price of assistance in the bankruptcy of an individual when applying to a specialist increases at times. Payment will be made by agreement. Lawyer's assistance services are made out only at the request of the debtor, in legislative norms this is not a mandatory clause.

Bankruptcy without property

From the statistics of court cases, almost all processes are conducted with a lack of property values. The restructuring process in this case is impractical, the sale of property in its absence is much more profitable for the debtor. Due to the lack of property for sale, the process will be closed; a necessary report will be created about this, which will subsequently be submitted to the arbitrator. The price of bankruptcy without property of individuals depends on the list of additional services. Based on the report, the judge makes a decision on the insolvency of the citizen and all debts are written off.

In 2018, the price of bankruptcy proceedings for individuals becomes lower, the process is carried out according to a simplified scheme: with a debt of 50,000 rubles and without the activities of a manager. The price is reduced under such a scheme, because there is no need to pay for the services of a financial manager and placing ads in a newspaper for lenders. But, despite this, the judge will still verify in detail all the documents submitted and their authenticity. If distorted data is found, then there may be the following sad results:

• the court will refuse to write off the debt;
• may issue a fine for an administrative offense;
• for deliberate bankruptcy, the court may prosecute.

Pros and Cons of Bankruptcy

First about the pros:

1. Penalties for non-payment of debt are not charged.
2. The arrests and restrictions imposed by bailiffs are lifted.
3. Claims and complaints from creditors are considered by the court.
4. The ability to save property.
5. In the absence of property, the debt is written off.
6. Debtor protection from collectors.
7. Judicial repayment periods may change (through restructuring).

And finally, the cons:

1. Information that a citizen was bankrupt is entered in the credit history. This will greatly complicate the situation with loans, borrowings, loans and mortgages in the future.
2. All property matters should be supervised by a financial manager.
3. Over the next 5 years, it is impossible to declare bankruptcy, this is contrary to the laws of the Russian Federation.
4. There is a considerable chance of losing property.
5. Turnkey price of bankruptcy of individuals is quite high. And without a qualified lawyer it’s hard to win a difficult case.
6. The prices of lawyers for bankruptcy of individuals are increasing annually.
7. Some debts are not written off (for example, child support).

As you can see, the price of bankruptcy of an individual is not small, and you should think carefully and calculate your capabilities before declaring yourself bankrupt. After all, if you are not a practicing lawyer, it will most likely be difficult to understand all the legislative nuances of this procedure. In many cases, it is more economical to pay your debts, all the more so the price of bankruptcy services for individuals is increasing every year.