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Bill envisaging guaranteed minimum subsistence level for debtors reaches State Duma

18:31 14/05/2020

MOSCOW, May 14 (RAPSI) – State Duma MPs from the United Russia party have submitted to it a bill obliging creditors to uphold a guaranteed minimum subsistence level as concerns their debtors, a statement of the lower house of Russia’s Parliament reads on Thursday.

Those in heavy debt should not be deprived of means of subsistence, therefore the authors of the bill propose to set a threshold as to the amounts creditors are to have the right to recover from their debtors, so those could retain funds at the minimum subsistence level, according to the document.

The bill envisages respective amendments to a number of federal laws.

The minimum subsistence level is to be at or above the minimum wage, about 12,000 rubles ($160 at the current exchange rate); special procedures are envisaged as to recovery of debts from those whose income is at or below the minimum subsistence level: bailiffs are to cooperate with various authorities in gathering information on any gains in properties or funds of such debtors at the expense of which they could collect the debts.

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Bill envisaging guaranteed minimum subsistence level for debtors reaches State Duma

18:31 14/05/2020 State Duma MPs from the United Russia party have submitted to it a bill obliging creditors to uphold a guaranteed minimum subsistence level as concerns their debtors.
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