Since not so long ago, a bankruptcy procedure for individuals has been launched and continues to function in our country. faces. Most likely, this event was initiated by the state and fixed by the legislative authorities not by chance, but in order to prevent some negative consequences, which could lead to insolvency of citizens who, for example, took a loan from a bank and cannot repay it for some objective reasons. What is the bankruptcy of individuals, the order, procedure, consequences of its application - all this will be analyzed in this article.
Legal regulation
Bankruptcy of a citizen is regulated by the same law as the insolvency of a legal entity, and more specifically, by the Federal Law No. 127 “On insolvency (bankruptcy)”. However, earlier in this regulatory document, there were no citizens in the list of persons who may be subjected to the procedure under consideration. Only in July 2015, Law No. 476-FZ entered into force, in accordance with which amendments and additions were made to the original document. In particular, the text is supplemented with a section that provides for the bankruptcy of the physical. persons. The procedure, procedure, consequences of using this opportunity to end debts are set forth in this legislative act, as well as in other regulatory documents.
Normative acts in this area relate to individuals who do not have any sources of income, and therefore some, even the slightest opportunity to pay off creditors. In these federal laws, in addition, the conditions for the restructuring are named, its procedure is described, and the sale of the debtor's assets is regulated to close the claims of its creditors.
general information
The procedure in question can be carried out only by contacting the judicial authorities, which must carefully examine all the documents submitted and evidence of insolvency. As a result of such a study, the court must decide whether it is possible to declare a person bankrupt or not. Judicial authorities must determine whether a citizen or an individual entrepreneur is really insolvent, whether their application or the application of another person to declare bankrupt is justified. If such a statement is not substantiated, the court must refuse to satisfy it. And vice versa, if a person has debts, including overdue debts, and his insolvency is confirmed, then the court is obliged to declare it bankrupt, or rather, a bankruptcy procedure is introduced by physical court. faces. Within the framework of the event under consideration, restructuring of the debts of a citizen can be carried out.
Some conditions
It must be understood that the conduct of the bankruptcy procedure for individuals simultaneously implies the establishment of specific restrictions on the rights of an insolvent citizen. Among the latter, one can single out a ban on making any transactions with property, a ban on paying any kind of debt. However, such prohibitions are imposed not only on citizens at the bankruptcy stage, but also on creditors. So, the latter are forbidden to foreclose on the property of a bankrupt, even in their mortgage.
The normative act indicated above establishes how the bankruptcy procedure of individuals goes, including the requirements for potential applicants. For example, it defines who can be declared bankrupt. In addition to legal entities, individuals can be subjected to such a procedure. At the same time, individuals are understood as private entrepreneurs, farmers, and people who have ceased activities related to business, but who still have some debts.
The law that came into force in July 2015 also regulated some of the innovations. So, only an individual can be subjected to such a procedure, the amount of debt of which exceeds five hundred thousand rubles. At the same time, the term of such an overdue obligation is required to exceed 3 months. There are still some factors to which attention should be paid: a citizen, regarding whom initiation of the procedure is possible, should not be tried, and the total aggregate of his debt must be higher than the total amount of his assets. In the next five years after the procedure for recognizing bankruptcy of a physical person is completed persons, such a citizen will be deprived of the right to resubmit a similar application to the judiciary. And if such a person was previously held liable for false or deliberate bankruptcy, then a statement from him will not be accepted at all.
How is this process going
Bankruptcy Procedure nat. the person with his goal has a legal settlement of relations arising between a citizen and any financial organization. At the same time, it is far from easy to become bankrupt; the legislator has provided various mechanisms to prevent the recognition of bankrupt persons who, in fact, are not considered such. Among them are a check for lack of income and a check for lack of movable and immovable property.
Where to start the bankruptcy procedure nat. faces - probably the most important question. In general, the procedure itself begins from the moment the relevant judicial act enters into force. At the same time, the arbitration manager, that is, the person who will work to implement the bankruptcy procedure, seizes the person’s property. It should be noted that such an encumbrance may not be imposed on all property of a bankrupt, legislative acts provide for a list of things and objects that cannot be imposed upon arrest. After the seizure and inventory of the bankruptcy estate, an authorized person must evaluate the assets.
Through the judicial authorities, the person with respect to whom the procedure in question has been initiated can request that the encumbrance be removed from his property on the basis that he will pay off the debt, or is ready, for example, to conclude a settlement agreement with creditors. Additionally, the debtor may provide the court and creditors with a guarantee and surety of any person, whether legal or physical. Also, with such positive actions by the creditor, the court may delay the start of the bankruptcy process for one month. During this time, the defaulter will be able to conclude a settlement agreement with creditors. Therefore, knowing how to go through the bankruptcy procedure for an individual, knowing all the points and subtleties of this process, it will be possible to choose the best solution to this problem.
In the event that the natural person in respect of whom the process of declaring him insolvent has begun, the court has not proved that he can or has the intention to pay off the debt, the judge passes a judicial act, which begins the bankruptcy proceedings. In the process of this production, all claims against the debtor, penalties on writ of execution, interest and penalties are stopped. Claims available to creditors who did not have time to declare them before the court and to recover the debt in court, after the start of the procedure are submitted to the bankruptcy trustee who knows how to conduct the bankruptcy procedure nat. faces. It will be he who will decide on the validity or unfoundedness of the claimed requirement. In any case, the decision of the manager can be challenged through the courts.
Case initiation
So, all the same, where to start the bankruptcy procedure nat. faces? To begin with, it should be clarified that this procedure can be initiated not only by the citizen’s creditors, but also directly by himself, as well as by authorized bodies, including the tax service, the municipality, and others. Naturally, before submitting an application to the judicial authority, the submitter must collect all possible supporting documents, which, firstly, will prove the existence of debt and its long non-performance, and, secondly, prove the citizen's insolvency, that is, that his property and income to close absolutely all claims. Only after collecting all such documents you need to write a statement and bring it to court, enclosing all copies.
In cases where the applicants are citizen creditors or an authorized organization, they are required to attach not only the above documents, but also written evidence that they applied to the debtor, demanded the repayment of the debt, indicated the terms by which it should be repaid.
Persons for whom alimony payments, health benefits, and other amounts directly related to their person are not entitled to initiate bankruptcy proceedings.
Bankruptcy Procedure the person is regulated by law and begins with the filing of a bankruptcy petition for a citizen, individual entrepreneur or other person. Of course, the application must be executed in the manner established by the rules, must meet all the requirements that are listed in the bankruptcy law itself, as well as in civil procedure law. The following data shall be shown in the submitted document:
- Indication of the judicial authority to which the application is submitted.
- Personal data of a citizen who is to be declared bankrupt.
- Details of the creditor or authorized organization (if the application is submitted by a non-citizen).
- Amount of debt indicating the period of its existence.
- The list of assets owned by the debtor citizen.
- The reason why the applicant considers the citizen insolvent.
- Other important circumstances, according to the parties to the court proceedings.
All these data are indicated directly in the application. However, documents confirming the requirements will need to be attached to the application itself. It:
- Documents indicating the absence of income or its availability.
- Certificate stating that a citizen is unemployed or a certificate of employment.
- Certificate of family composition.
- Certificate of residence.
- Documents showing the presence of dependents.
- Guarantee of remuneration to the manager, drawn up in writing.
- Notifications and requirements of creditors, authorized organizations, sent to the debtor.
- Assessment report (if the creditor goes to court).
- A document confirming the payment of state duty.
Asset sale
How will the bankruptcy procedure go physical? persons, of course, depends on the manager, his experience and skills, as well as other factors. The most important step in this procedure is the sale of debtor property. The degree of repayment of debts to all creditors will depend on how it will be carried out, on the results of the sale of property. Therefore, lenders have the greatest interest in selling property at a higher price. As already mentioned, all assets held by a citizen in respect of which the bankruptcy process is being conducted are managed and inventoried by the manager and included in the general bankruptcy estate. After its evaluation, implementation is carried out through open and fairly transparent bidding. At these auctions, anyone can purchase the property they sell. The proceeds from such a sale shall be distributed by the bankruptcy trustee among the creditors, but subject to the principle of priority. If there is a shortage, they are distributed in proportion to the existing debts.
Here it is necessary to list the property on which the encumbrance cannot be imposed, respectively, and it cannot be realized:
- The land on which the only bankrupt housing is located, and such housing itself.
- Personalized items.
- Medals, orders and other awards.
- Monetary amounts in the amount determined for the relevant year of the amount of the living wage of the defendant, as well as persons staying with him for maintenance.
- Foodstuffs.
- Animals (domestic).
- Household appliances, the price of which does not exceed thirty thousand rubles.
And although the bankruptcy of individuals, the procedure, procedure for its implementation, including the sale of assets, are provided for by legislative acts, in practice, such debtors who have property suitable for sale are quite rare. You also need to pay attention that real estate, which is pledged to the bank and which is collateral for a mortgage loan, can also be sold.
Queues
Where to start the bankruptcy procedure nat. persons, the process of its implementation seems to be understandable. But how are the funds received from the sale of assets of the debtor distributed? Repayment of debts to creditors, as mentioned above, is carried out in order of priority. First, claims of the first stage are satisfied. After the full repayment of the requirements of this queue, the requirements of the second and then the third stage are repaid. The first stage includes creditors to whom the debtor has arrears for damage to health or life. Also included in this line are child support lenders. Along with this, remuneration is paid to the manager, as well as to the persons involved. The second stage includes persons who have salary requirements before the debtor. The third includes requirements for paying for utilities and paying for housing itself. The fourth stage - other payments.
The listed creditors and their requirements are satisfied as a matter of priority, as they are considered creditors for current payments. For the rest of the lenders, which were included by the manager in the list of claims of creditors, there are three lines. Similarly, their claims are paid off sequentially. At the same time, claims of creditors in the same queue are satisfied taking into account the one who previously submitted his claim to the manager, that is, by the calendar sequence.
Claims of creditors for the repayment of which there was not enough money after the sale of all assets of the debtor are considered to be paid off.
The consequences of the procedure
Many people are interested in how the bankruptcy procedure of individuals goes, but not everyone understands that after such a process certain restrictions will be imposed on a bankrupt by the court, that is, he will not be able to exercise some of his rights within the amount of time specified by the court. So, among such restrictions: a bankrupt will not be allowed to engage in any entrepreneurial activity, in particular, to occupy senior positions in legal entities, to apply to financial organizations for loans without notifying these organizations about the fact of their bankruptcy.
Within a five-year period, a bankrupt citizen will not be entitled to re-declare bankruptcy. And in those cases when the application for bankruptcy is received from other persons at the same time, the bankruptcy process will take place somewhat differently. So, after its end, the citizen’s debts will not be written off if there is not enough money to repay them. Such creditors will be given the opportunity to obtain writ of execution and continue to collect debts from bankrupt.
Restructuring
Bankruptcy Procedure nat. persons may provide for restructuring. This term means the revision of the loan repayment schedule by the lender. This may be a decrease in the monthly payment with an extension of the term, and writing off penalties, fines, and other mutually beneficial options for the parties. Basically, lenders, especially banks, are aware of how the physical bankruptcy procedure occurs. faces, and that after its completion they are unlikely to get anything. Therefore, they, for the most part, willingly agree to restructuring.
In order for the court to allow restructuring, it needs to be provided with a clear plan on how debt repayment will occur. In this plan, all expenses of a citizen should be described, including the monthly maintenance of dependents. If the plan convinces the court, then he can provide up to three years for its implementation. During this period, the person is obliged to pay off all debts. If this happens, the bankruptcy case will be terminated, and the citizen will not be declared bankrupt.
Conclusion
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