In order to be able to collect old debts from an enterprise that is already at the stage of bankruptcy, it is important to follow the legal procedure for entering claims for unfulfilled obligations into the register of creditors' claims . If the situation is such that this is not done on time or the application is completed incorrectly or untimely, then there is a risk of not receiving the required amount of money. So, let’s look at what a register of claims is, what information is entered into it, who does it and how, the procedure for filing an application and collecting the debt itself. And what, in essence, does this register provide, does it help to recover the debt from a bankrupt counterparty.
Introduction: the essence and conditions of bankruptcy of individuals
Website of the authors of the article : https://moe-bankruptcy.rf/
Just a few years ago, the term “bankruptcy” was used only in relation to legal entities. With the introduction in 2015 of an additional chapter to the Federal Law “On Insolvency (Bankruptcy)” (hereinafter referred to as Federal Law No. 127-FZ), the bankruptcy procedure became possible for individuals. Thus, citizens who were unable to pay debts to creditors were able to declare themselves bankrupt in order to free themselves from monetary obligations.
The essence of bankruptcy of an individual is the legal write-off of debts to creditors
These may be debts for:
- bank loans,
- microloans,
- taxes,
- fines,
- payment for housing and communal services,
- receipts or loan agreements with other individuals,
- court decisions, etc.
In the process of declaring a citizen bankrupt, a financial manager is involved, who monitors compliance with the legitimate interests of all participants in the case. The court may apply to the debtor debt restructuring, sale of assets and property, or terminate proceedings in connection with the signing of a settlement agreement.
It is very important that the financial manager takes into account the interests of the debtor and does not interfere with his bankruptcy. In practice, this is achieved by a preliminary agreement with the manager on the terms of the business.
The initiator of bankruptcy is not only the debtor. The law provides such a right for the bankruptcy creditor and the authorized body (Federal Tax Service).
The bankruptcy mechanism cannot be called simple and fast. It has many nuances that you should know about before filing documents with the court. It is important to assess the risks in advance and calculate the feasibility of starting the procedure.
Federal Law No. 127-FZ establishes 2 conditions for the bankruptcy of an individual , under which the court accepts a citizen’s bankruptcy case for consideration, regardless of who exactly files the application:
- the total amount of debt is more than 500 thousand rubles,
- there is a delay in obligations for 3 months.
Applying to the court for bankruptcy is not in all cases the only right of a citizen. The legislation distinguishes between situations when an individual has the right to initiate bankruptcy and when he is obliged to do so.
If the debt is less than 500 thousand rubles, but the citizen is unable to repay it and is insolvent, then he can decide for himself whether to submit an application or not.
The following signs indicate the presence of insolvency:
- complete cessation of fulfillment of monetary obligations that have already fallen due,
- there is a delay of more than 10% of all obligations within 1 month,
- the value of the property is less than the amount of debt,
- The bailiffs issued a decision to terminate enforcement proceedings due to the lack of property for collection.
It is also possible for an individual to declare bankruptcy if there are circumstances that prevent the fulfillment of obligations. For example, if a citizen was fired from work, he became seriously ill, suffered from property damage, natural disasters, etc.
But if the debt exceeds 500 thousand rubles, then the citizen is obliged to apply to the court to declare himself bankrupt. He must do this within 30 days from the moment it becomes clear that the creditors’ demands cannot be fully met.
Failure to fulfill such an obligation may result in bringing an individual to administrative liability and non-exemption from financial obligations.
The bankruptcy procedure for an individual includes several stages and lasts from several months to several years. The timing is affected by the size of the debt, whether the debtor has property, the choice of procedure for liquidating obligations, etc.
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