The Federation Council approved a law under which Russian banks will have the right to recover debts on loans out of court, says “Газета.Ru”.
Of the adopted law should be that banks will be able to apply directly to the court bailiffs in the case that the borrower does not pay more than two months on the loan and violates the payment schedule. Clarifies that the Executive inscription of the notary on the loan agreement will serve as a basis for the recovery of the debt.
Adopted by the Federation Council the law will be able to use banks and any other lenders, but not a microfinance institution. In addition, the amendment of extrajudicial debt collection is expected to be extended to existing credit agreements. The reservation about the possibility to recover the debt without recourse can be provided by additional agreement to the contract.
As reported, in early may, the state Duma was introduced a bill which proposes to ban microfinance organizations to lend to individuals.
