The bill (Reg. No. 1145) aims at broadening possibilities of debt settlement for natural persons and presupposes:
possibility of introducing a debt repayment plan, allowing for debt restructuring according to the plan approved by the economic court;
reducing risks and costs of a debtee due to complexity of debt collection;
reducing costs for administering bankruptcy procedure of the citizen etc.
Peoples’ deputies believe that implementation of bill’s provisions would allow introduce institute of bankruptcy of a natural person not engaged in business activities; reduce the amount of problem loans in the banking system and help borrowers that are in financial straits and cannot service their debts.
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