What will happen to child support, trips abroad, an apartment and a car: understand complex bankruptcy issues

Novosibirsk were more likely to contact a legal company to legal means to get rid of debt. For January-March 2020 the court declared bankrupt 22,4 thousand Russians that on 68% more than in the same period last year. In the Novosibirsk region the number of judgments rose by 40.5%. Experts believe that it is not associated with the pandemic and economic instability — consequences of the crisis will be visible only after a year. The fact that people have begun to understand in detail the bankruptcy proceedings and trust services. But for the majority of Novosibirsk, the subject still remains unclear, so we asked the head of the legal company “Dagonet” Artem Dolgov of bankruptcy proceedings, the safeguards and limitations.

— What is bankruptcy and how long is it?

— When a person is declared bankrupt, his debts are written off and he is freed from obligations to creditors. In Russia the Federal law on insolvency (bankruptcy), which allows a person to apply to the court of arbitration.

the bankruptcy Procedure lasts about nine months. If a person has property that needs to sell, and transactions subject to contestation, then the period increases. Our company “will Dagonet” is full support of procedure of bankruptcy of individuals in Novosibirsk, including the services of the arbitration Manager, who represents his financial interests. In five years, we have won 100% of cases.

— Who are not free from debt?

— If the person is conscientious, it will save you from payment of loans. The court may release from debts in three cases. First, if the person has provided incorrect information on the composition of its assets or liabilities. Secondly, if it is for three years prior to application have made suspicious transactions. The third option, if the person found unfair by the payer. For example, he took out a loan in April, and the Declaration filed for bankruptcy in may, almost nothing paying.