A real breakthrough from a socialist economy to a market economy in the 90s of the last century was the law on bankruptcy of enterprises. He allowed the forms to get rid of overwhelming debts, literally rising from the ashes. Of course, this violated the interests of those to whom the organization owed, including debts to employees that were not always paid. But if the enterprise had at least some reserves for survival, then the bankruptcy procedure allowed it not to go to the bottom, not to close just because money was not found on time to pay taxes or interest on a bank loan.
The Bankruptcy Law spawned a new profession - a bankruptcy trustee or an administrator. And led to the fact that business has learned to deftly use this tool. There was even a concept - intentional bankruptcy, which is legally punishable. But, perhaps, there were nowhere so many tragic consequences from the bankruptcies of organizations as in the construction industry. When a developer goes bankrupt, at least a few dozens of people who trust him with their considerable and often last money suffer.
Therefore, it is quite logical that another law has recently appeared - on the bankruptcy of the developer, which gives hope to the participants of construction in progress. Their debt collection claims are now accepted by the arbitral tribunal. And people have a real chance to get an unfinished building into collective ownership and even (subject to a number of conditions) to subsequently complete it. The regions are currently developing their own laws on the basis of amendments to federal law.
But perhaps the most radical may be another bankruptcy law. It is about writing off debts of individuals. The consumer lending boom has not passed without a trace - people are used to what you can buy without money, that almost any thing you like can be purchased on credit. But they cannot always cope with the consequences of their decisions. Having collected loans, many find that the necessary payments significantly exceed their financial capabilities, and begin to hide from banks. But if a person fell into such a situation without intent, then a special bankruptcy law could seriously help him.
The question arises: when will the law on bankruptcy of individuals be adopted? The exact answer cannot be given at the moment. At the end of 2012, the State Duma adopted this law in first reading. The project suggested that the bankruptcy procedure could be applied to a citizen with a debt of more than 50 thousand rubles (if its term is more than 3 months). This action occurs at the request of the debtor. In addition to “forgiving” debts, some sanctions are applied to it - for example, you will have to part with all the licenses for the entrepreneur, and over the next 5 years you will have to report to the bank (when applying for another loan) that you went bankrupt. It is supposed that this should scare away dishonest citizens, but provide the opportunity to make ends meet for bona fide, in general, consumers.