Debt restructuring in personal bankruptcy: why it is beneficial to act through the court

Declaring your own financial insolvency is a long process and includes 2 procedures. Debt restructuring in the event of bankruptcy of an individual is assigned to potential bankrupts as a primary procedure. Court-supervised restructuring compares favorably with bank reconciliations. How it is useful for the debtor, we will consider below.

Order and procedure for debt restructuring

Bankruptcy issues are considered by courts of arbitration jurisdiction.
A person is allowed to file an insolvency claim either by himself or his creditors. Banks rarely resort to this option, preferring to collect loan debts in other ways. Therefore, most often claims come from individuals. The law establishes the following instructions for recognizing bankruptcy:

  • A person realizes that he is unable to pay off his existing debts and seeks advice from a lawyer. It is not recommended to engage in debt restructuring in the event of bankruptcy of an individual without the participation of a specialist, because this issue requires legal competence.
  • If there is a chance of establishing bankruptcy or debt restructuring, you should collect documents to transfer the case to the judicial authorities.
  • At the same time, you need to start looking for a financial manager who will control the financial and property aspects of an individual’s life. You should agree with an expert in advance and discuss the details of bankruptcy and the amount of remuneration. Information about current managers is presented on the website of the Unified Federal Register of Bankruptcy Information.
  • File a claim with the Arbitration Court and wait for the summons for the first meeting. If there are all grounds for considering the claim, the judge will appoint a receiver. As a result of an initial assessment of the circumstances, the judicial authority may decide to immediately proceed to the sale of property. If a person's solvency can still be restored, their debt will be restructured.
  • The manager will begin searching for property that can be sold and assessing the citizen’s financial situation. He will send notices to the collectors about the beginning of the restructuring of the person’s debt, after which a general meeting is convened and debt claims are clarified.
  • A restructuring plan is being drawn up. The debtor and creditors must agree to this document, after which it is approved by the judicial authorities.
  • As a result of the review, the court decides to recognize the person’s bankruptcy and sell his property or restructure his debts.

To apply the restructuring, it is required that the citizen have a regular income that will allow him to pay off the debt within the period established in the new schedule. At the same time, there must be funds left to support yourself and your family. In fact, the salary of an individual cannot be less than 25-30 thousand rubles.

The main document for debt restructuring is a statement of claim. To properly prepare it, you should contact a lawyer who has practice in this area. He will file a claim in accordance with current regulations.

The document must contain the following information:

  • Name of the judicial authority.
  • Last name, first name, patronymic of the plaintiff, address and contact telephone number.
  • Detailed information about a person's obligations to creditors. Be sure to indicate the names of the banks, the terms of the loans with specification dates, loan rates and the total amount of payments per month.
  • The total amount of existing loan debts.
  • Circumstances and reasons that led to a difficult financial situation.
  • Information about the selected manager.
  • Claim. Here you should indicate what you want to receive as a result of the insolvency proceedings - bankruptcy or debt restructuring. Even if you chose the first option, the court may order restructuring if there are sufficient financial resources to pay.

Be sure to sign the document and include the current date. The statement of claim must be submitted to the court or sent by registered mail. Attached to it:

  1. Evidence of your difficult financial situation. This could be certificates of salary, health status, a copy of the dismissal order and other papers.
  2. A separate package collects loan agreements, payment schedules, applications for deferment of debt to banks, and certificates of the amount of debt.
  3. Documents about existing property.

The need to provide a particular document is assessed by a lawyer. Subsequently, the list can be adjusted based on the existing circumstances of the case.

The positive aspects of the new scheme for repaying obligations to creditors include the termination of penalties for late payments. If legal proceedings have been initiated against an individual to return funds, they will be suspended. Claims are accepted only within the scope of an insolvency proceeding. As a result, the person’s debts will be written off, and collectors will no longer be able to present old claims.

While the case is being considered, an individual cannot sell property or take out other loans. He may be prohibited from leaving the country until the final decision of the Arbitration Court. Bank balances in the debtor's accounts are under the absolute control of the financial manager. In the future, if you want to take out a new loan, an individual must notify the bank that he has undergone a restructuring procedure.

The main disadvantage of revising the loan payment schedule is the high cost of the services of a lawyer handling the case and a financial manager. The work is paid for out of the debtor's own pocket. It is this moment that scares away potential bankrupts who find themselves in a difficult life situation. To get rid of debts, you will have to pay at least 100 thousand rubles.

In order for the court to introduce a debt restructuring procedure, a number of conditions must be met:

  • the bankrupt must have a stable source of income;
  • the debtor has not been declared bankrupt over the past 5 years or has not been subject to a restructuring procedure over the past 8 years;
  • the debtor’s income is sufficient to create a payment schedule lasting up to 3 years, the implementation of which will satisfy most of the creditors’ claims;

The procedure for restructuring the debts of individuals is now subject to Federal Law No. 127 on insolvency. According to it, if a citizen has a certain level of monthly income, then before initiating the bankruptcy procedure itself and selling the property under the hammer, a restructuring process is scheduled. The debtor's monthly income must be enough not only to pay monthly tranches to pay off the debt, but also for a normal existence (food, clothing, child support, etc.).

This rehabilitation procedure is quite beneficial for the debtor: it allows him not only to pay off loans with the bank without fines, penalties and at a reduced interest rate, but also to avoid the extremely unpleasant stage of selling property.

In 2020, it was also planned to introduce the opportunity for individuals to go bankrupt using a simplified procedure for debtors with relatively small outstanding loan amounts (within 900 thousand rubles). A similar initiative was taken by the Ministry of Economic Development to expand the availability of bankruptcy for those who find the standard process financially unfeasible.

The basic distinguishing feature of this procedure is the absence of a financial manager and the limited time frame of the process. In essence, simplified bankruptcy excluded the stage of selling property and would involve exclusively debt restructuring.

A simplified procedure would solve the problem of people with relatively small debts of 50-100 thousand rubles. or mired in microloans and unable to get out from under enslaving interest rates.

The decision to introduce bankruptcy proceedings against a debtor individual is made exclusively by a judge during the consideration of an application received to declare him financially insolvent.

If the court makes a ruling to approve a restructuring schedule in relation to a citizen, then it will indicate the date of the meeting to consider the bankruptcy case and the name of the financial manager.

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The key criterion for introducing a restructuring schedule in relation to the debtor is that he has a sufficient level of income to repay the entire debt in 36 months or return to the previous loan schedule after three-year tranches.

The court can approve this procedure only if the applicant has regular income in such an amount that after making the monthly payment, the debtor has money left in the amount of the subsistence level for his decent existence and the maintenance of dependents. Typically, a debt restructuring schedule for an individual is approved by the bank with income of more than 25-30 thousand rubles. depending on the region.

At the same time, the approval of the bank itself for restructuring is not required, which is an undoubted advantage of this procedure. By the way, if the debtor does not own valuable property, then creditor banks may agree to partial repayment of the debt by the borrower for three years, and simply write off the rest.

After the start of restructuring, the debtor acquires significant advantages:

  • interest and penalties (fines and fines) cease to accrue on all his debts, loans and tax debts;
  • a moratorium on satisfying loan requirements is introduced;
  • banks and collectors are prohibited from calling and visiting the debtor (they must submit all demands through the court or manager);
  • the debtor is provided with a “debt holiday” (when it is allowed not to pay the loan) until the court approves the detailed plan (but not more than 4 months);
  • bailiffs suspend work on enforcement cases (this does not apply to alimony debts).


At the request of creditors or the administrator, the court has the right to impose restrictive measures against an individual. Thus, he is prohibited from selling property for more than 50 thousand rubles. (real estate, shares in the authorized capital, shares, etc.), make it as contributions to the authorized capital, purchase shares or shares. The transfer of property as collateral is also prohibited. During the period under review, the debtor will not be able to issue guarantees and sureties, assign claims, or take out new loans and credits.

The procedure for restructuring a citizen's debt

  • The financial manager is obliged to publish a notice about the introduction of a restructuring procedure against the debtor in the Unified Federal Register of Bankruptcy Information and in the Kommersant newspaper.
  • The financial manager is obliged to notify in writing all creditors known to him about the recognition of the bankruptcy petition as justified and the introduction of restructuring. The deadline for sending notifications is 15 days from the date the court makes the relevant decision.
  • Throughout the entire procedure, the financial manager approves transactions made by the debtor, with the exception of small-scale transactions.
  • Draft restructuring plans are presented specifically to the financial manager, who is obliged to submit to the first meeting of creditors a report on his activities, information about the financial condition of the citizen, a draft plan for restructuring the citizen’s debts (if any), his objections to the submitted draft plan and (or) proposals for its revision (if there are such objections and (or) proposals).
  • During the implementation of the restructuring plan, the financial manager considers the citizen’s proposals to make changes to the plan.
  • No later than a month before the expiration of the restructuring plan, the financial manager is obliged to prepare a report on the results of the implementation of the citizen’s debt restructuring plan approved by the arbitration court.

The procedure for restructuring a citizen’s debts requires a lot of time and is a very unpopular measure. The main advantages for the debtor will be:

  • the opportunity to reduce existing debt to creditors and eliminate all fines and penalties;
  • the debtor remains with his property;
  • is very relevant for citizens who own expensive property, and they do not want it to be sold through an auction at a bargain price.

The main disadvantages of this procedure are as follows:

  • It is impossible to independently draw up a restructuring plan without the appropriate education and skills;
  • Due to this procedure and the time frame within which it is implemented, financial managers have no desire to deal with the bankruptcy of individuals in general.

Debt repayment procedure

When considering the possibility of bankruptcy of an individual. restructuring of persons is carried out subject to the following conditions:

  • if there is no pre-concluded agreement between the potential bankrupt and his creditor;
  • when it is possible to partially repay obligations without funds received from the sale of property.

Restructuring a citizen’s debt in bankruptcy is carried out in the presence of the following circumstances:

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  • the presence of at least one source of income that will allow one to raise the necessary amount of funds to cover obligations;
  • lack of evidence of prosecution for economic crimes;
  • the presence of evidence that in the history of the individual there have been no attempts to initiate false bankruptcy;
  • during the last 5 years the citizen has not been declared bankrupt;
  • For 8 years before going to court, debt restructuring was not carried out.

What is restructuring

Debt restructuring in the event of bankruptcy of an individual is one of two procedures carried out by the financial manager. The amount of his remuneration for its implementation is 25 thousand rubles - it is paid by the bankrupt when filing an application or before the first court hearing, plus 7% of the amount of repaid creditor claims (paid at the end of the procedure from the funds received). Let's briefly consider what debt restructuring is and what it includes:

  1. The essence of the restructuring is to repay debts to creditors by making monthly payments according to the developed schedule.
  2. Upon fulfilling the requirements of the plan, the debtor gets rid of debts while retaining all of his property.
  3. If the bankrupt fails to comply with the terms of the plan, a procedure for the sale of property is introduced.
  4. The debt restructuring period can be no more than 3 years; the plan itself is calculated taking into account the debtor’s income, the size of the creditors’ claims and their number.
  5. The parties can appeal the developed plan and submit their own schedule for consideration.

Restructuring in bankruptcy is completed even if the bankrupt partially fulfills the requirements of the plan. The rest of the citizen's debt to creditors will simply be written off.

Bankruptcy of individuals

As mentioned above, bankruptcy restructuring can take place in two ways:

  • the first is debt restructuring → bankruptcy of an individual;
  • the second is bankruptcy of individuals → debt restructuring.

How does debt restructuring proceed in the event of bankruptcy of an individual? applicant, what debts can be restructured if a citizen is involved in bankruptcy? These and other questions are of interest to people standing on the “threshold” of the project. The restructuring bill determined the list of debts subject to write-off and those debt obligations that cannot be written off.

Debts subject to write-off in the event of bankruptcy of an individual:

  • to financial institutions;
  • according to receipts;
  • traffic police fines and debts for road accidents;
  • tax costs;
  • recovery for property damage caused.

Debt obligations that are closely related to the creditor himself cannot be written off:

  • alimony debts;
  • amounts assigned as compensation for moral damage;
  • debts awarded to compensate for damage to the health and life of victims.

Restructuring the debts of an individual is possible only for those citizens of the Russian Federation who, at the time of consideration of the case, have a stable monthly income and who do not have an outstanding conviction for financial fraud and economic crimes.

Other requirements for the applicant and the subject of restructuring:

  • the debtor has not been declared bankrupt within the previous five years;
  • if an individual had administrative penalties, their period must expire at the time of restructuring;
  • the restructuring of this debt cannot have another approved plan within the previous eight years.

Restructuring of funds issued by a loan in the event of bankruptcy of a citizen may have individual characteristics in each specific case.

How is restructuring carried out?

Responsibility for carrying out the procedure for restructuring a citizen’s debt rests with the financial manager. As part of the performance of his duties, he must:

  • publish messages about the bankruptcy of a citizen with the EFRSB and the Kommersant newspaper;
  • provide written notification to creditors within 15 days of the introduction of a debt restructuring procedure;
  • accept from the citizen management of all his funds and property, including bank cards;
  • develop a debt restructuring plan that satisfies the interests of the parties and the debtor himself, and present it for review at a meeting of creditors;
  • if necessary, make changes to the plan or submit objections to the changes proposed by the parties;
  • approve the restructuring plan in court, then monitor its implementation by the citizen;
  • a month before the end of the plan, prepare a report and submit it to the court for consideration.

Federal Law on Bankruptcy No. 127-FZ strictly defines the conditions and procedure for debt restructuring. Any discrepancy or failure by the financial manager to fulfill his duties can be appealed in court. Depending on the seriousness of the violation, disqualification and reappointment of the responsible person are provided.

Installment plan for an individual's loan

  • certificate of income in form 2-NDFL or other documented income (for 6 months);
  • data on accounts payable;
  • employment information: copy of the employment contract/work book;
  • certificate of no criminal record for economic crimes;
  • information about existing property;
  • information about credit history;
  • a statement from the individual regarding approval or objection to the plan;
  • documents confirming the absence of bankruptcy status for the last 5 years and a restructuring plan for 8 years.
  • through your own creditor bank;
  • through a third-party credit organization - this type of lending is called refinancing;
  • through bankruptcy.

Let's consider what the key features and distinctive features of these procedures are.

PeculiaritiesRestructuringRefinancingRestructuring through bankruptcy
Interest rateIn accordance with bank tariffs, on average – from 20%Possibility of reducing the current interest rateThe current key rate of the Central Bank is now 10%
Who providesYour bank is a lenderThird party bankCourt
EssencePossibility of revising the payment schedule, reducing monthly payments by increasing the termsPossibility of reducing payment by reducing the interest rate or extending the termsA comfortable debt repayment schedule may not cover the full amount of the debt, but only part of it
Amount of creditsOneSeveral possible, limited by lenderNot limited. May include not only loans, but also other debts: for taxes and housing and communal services
Maximum termAt the discretion of the bankAt the discretion of the bank, usually within 60 months.No more than 36 months.
RequirementGood CI, no delaysGood CI, no delaysAvailability of stable income in sufficient volume, arrears of at least 3 months are required.

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It’s difficult to say which of these options is more profitable. On the one hand, in the event of bankruptcy, borrowers with a damaged credit history and in arrears can receive the right to restructuring. Also noteworthy is the fact that interest in insolvency cases is calculated on the basis of a reduced interest rate.

But do not forget about the high cost of the bankruptcy procedure and the additional expenses that the borrower will have to bear. Although they pay off well for debt amounts of more than 500 thousand rubles.

For your information

Going through the bankruptcy procedure of an individual on a loan will also require reporting this fact to banks over the next 5 years when applying for loans, which minimizes the possibility of receiving funds. Whereas restructuring through a bank does not spoil your credit history and does not reduce the chances of loan approval in the future.

Creditors who miss this deadline are not deprived of the right to present their claims against the debtor; they have the right to present them at any time. If the claims of such creditors are considered justified, they will be included in the register of creditors and will be fulfilled only after the requirements included in the register have been satisfied.

The claims of creditors are taken into account by the financial manager in the register of creditors of an individual. The inclusion of a creditor in the register gives him the right to participate in meetings of creditors with voting rights.

The debtor has the right to object to the claims of creditors; the latter can also object to the claims of other creditors.

Stages of performing actions to return obligations

In order for insolvency proceedings to commence, the following steps will need to be completed:

  1. Filing an application to the court is the only way to initiate bankruptcy of individuals. Restructuring becomes the next stage of consideration of the claim.
  2. Publication of a message that a debt repayment procedure will be initiated against a certain person.
  3. Notification of the commencement of restructuring to known creditors.
  4. Receiving claims from persons in respect of whom the potential bankrupt has debts.
  5. Drawing up a plan for the repayment of loans, credits and other encumbrances.
  6. Document approval.
  7. Execution of accepted actions with parallel control by the financial manager. If necessary, adjustments are made to the plan taking into account the current financial condition of the payer.
  8. Compilation of a report.
  9. Making a decision on the successful completion of the procedure.

Important. If it is impossible for the applicant to repay his debts in accordance with the adopted action plan, he is declared bankrupt.

When submitting an application to the court, you must provide the following documents:

  • passport of a citizen of the Russian Federation;
  • credit history information;
  • a copy of the work book;
  • information about debts at the time of application;
  • a certificate in form 2NDFL, on the basis of which the court makes a decision on the possibility of restructuring;
  • documents for property owned by a citizen;
  • data on the absence of a criminal record for economic crimes or initiated bankruptcy cases for a certain period of time before filing the application.

Differences between judicial and banking restructuring

In contrast to the restructuring provided by banks, which is nothing more than a type of loan refinancing, the judicial procedure is much more profitable for the debtor. Thus, debt restructuring through the court has the following advantages:

  • the interest rate is set at the level of the Central Bank refinancing rate, while banks, when providing restructuring, adhere to standard interest rates or even introduce an increased rate;
  • during bank restructuring, the requirements for the borrower are the same as when applying for a loan. When restructuring during bankruptcy proceedings for individuals, the debtor has only one requirement - the presence of a stable source of income;
  • The duration of judicial restructuring in bankruptcy cannot exceed 3 years. For banks, this period is not limited;
  • Bank restructuring is introduced only in relation to one loan issued by the same bank. Debt restructuring during bankruptcy of individuals affects debts to all creditors of a citizen: banks, individuals and legal entities, government agencies.

Presentation of creditors' claims

Creditors have the right to make claims against the debtor within two months from the date on which a message was published recognizing the citizen’s bankruptcy petition as justified. Creditors who miss this deadline are not deprived of the right to present their claims against the debtor; they have the right to present them at any time. If the claims of such creditors are considered justified, they will be included in the register of creditors and will be fulfilled only after the requirements included in the register have been satisfied. The claims of creditors are taken into account by the financial manager in the register of creditors of an individual. The inclusion of a creditor in the register gives him the right to participate in meetings of creditors with voting rights. The debtor has the right to object to the claims of creditors; the latter can also object to the claims of other creditors.

Feedback on debt restructuring

Both the debtor himself and his creditors can propose a debt restructuring plan. If the financial manager has received several versions of this document, he submits them to the creditor meeting for consideration.


Let’s assume that the remainder of a citizen’s income after monthly debt payments is below the subsistence level. This is not a criterion, but one of the consequences of insolvency that can be brought to the attention of the court.

The draft plan received by the financial manager is sent to all creditors and the debtor within 10 days after the closure of the register. Information about this is published in the Federal Register.

The project is subject to approval at a creditors' meeting. Its participants can approve or refuse approval of the document. Such a decision is made by a majority vote. If approval is not obtained, the court may give a reasonable time to correct the deficiencies.

In order for the court to approve a debt restructuring plan, it must be economically feasible; did not violate the interests of minors; left the debtor and his family the means to live in the amount of the subsistence level; its execution did not prevent the debtor from repaying his obligations.


It is worth noting that the court can approve the plan even if the creditors do not approve it. To do this, the following condition must be met: execution of the plan will make it possible to repay the debt in a larger amount than would be possible if the property were sold. In this case, the amount of debt repaid must be at least 50% of the stated claims.

The manager must report on its results one month before the end of the plan.

Since the bankruptcy procedure for individuals is relatively new, there are few reviews from debtors on the issue of restructuring a citizen’s debt. So far, according to the established practice of bankruptcy of individuals, those who managed to obtain approval for an installment plan from the court are few. Creditors are usually more interested in the sale of the debtor's property, and the debtors themselves are not strong in the laws and cannot independently develop such a plan.

As for restructuring loans from banks, most credit institutions refuse applicants such a request. Banks are not required to explain the reasons for refusal, so borrowers can only guess about the reasons. The majority believes that banks are deliberately pushing the borrower into overdue payments in order to gain additional profit from penalties.

Debt restructuring plan: drafting, approval, approval, execution, sample

In order for the terms of the loan to be revised officially (to have legal force), a debt restructuring plan must be drawn up and submitted to the Arbitration for approval.

This document can be issued by:

  • the debtor himself;
  • creditors (at the general meeting);
  • authorized body.

It is compiled according to a specific algorithm, scheme and includes:

  • time of loan repayment, including mortgage (exact start and end date of payments);
  • repayment procedure (indicates when the principal debt will be paid and when the interest on it);
  • the amount of the monthly payment in accordance with the capabilities of the debtor and the requirements of the creditor.

The draft version of the plan is sent to:

  • financial manager (appointed by the court);
  • each of the creditors;
  • debtor;
  • authorized bodies.

10 days are allotted for drawing up and sending the plan. The countdown begins from the day the register of creditors is closed (identification of all claims and persons who can present them).

Important! A notice of the existence of a plan and the opportunity to familiarize yourself with it appears in the EDF of bankruptcy information. The responsibility for posting information rests with the financial manager, acting as a consultant. He is also involved in organizing a meeting of creditors, the participants of which will have to approve or reject the draft plan. Project samples are studied by all lenders in advance.

If the creditors reject the plan, the debtor has the right to submit a petition to the court to extend the deadline for its adoption. 2 months are allotted for revision. This time may not be provided, so it is important to make the first version of the document almost ideal, so that not only the creditors, but also the debtor himself agrees with it. The meeting will have 20 days to convene, starting from the time they receive copies of the plan. The approved document is submitted to the court for approval.

To pass this level, the plan must contain:

  • economically realistic and feasible proposals (for a debtor whose monthly income is 50 thousand rubles it is unrealistic to pay 45 or 55 thousand monthly);
  • clauses that allow the debtor and his family to maintain, throughout the debt restructuring, the means necessary for life (living wage for each family member).

The court has the right to ignore the decision of the meeting of creditors and approve the plan, provided that this will allow repaying a larger part of the debt than what could be covered by the immediate sale of the property of a citizen declared bankrupt. If neither the court nor the creditors agree to reconstruct the loan, the individual is declared bankrupt. To approve the revised plan, the same composition of creditors gathers; the rules for holding the meeting remain the same.

Implementation of restructuring

The procedure can be represented in several stages:

  1. Court decision to introduce restructuring.
  2. Official publication by financial managers of a message about the start of the procedure.
  3. Personal notification to financial managers of all known creditors.
  4. Statement by creditors of their claims against the debtor and the formation of an appropriate register.
  5. Drawing up a draft (drafts) of a restructuring plan. Projects can be prepared by creditors and the debtor himself. There are different options here, so there may be several projects.
  6. Review of the draft(s) of the restructuring plan and approval of the one presented or selected from several.
  7. Approval of the restructuring plan by the court.
  8. Execution of the plan, tracking and control of execution. At this stage, it is possible to make changes to the plan.
  9. Preparation by financial managers of a report on the execution of the plan.
  10. A court decision to complete the restructuring or to cancel the plan and declare the debtor bankrupt.

The most important tasks in the debt restructuring process are to prepare a good plan, get it approved, and execute it.

There are situations when a citizen formally meets all the requirements and there is every reason to prepare a restructuring plan, but the debtor does not want to go through this procedure or understands that it will not allow him to pay off all debts. In this case, the only thing that restructuring will provide is the opportunity to stall for time and pay off at least part of the debts, thereby protecting at least part of the property from sale.

How is a restructuring plan (draft plan) prepared? The requirements for its content are specified in Art. 213.14 of the Bankruptcy Law. The plan is drawn up in the form of one document on several sheets, with attachments.

Standard structure:

  • Information about the debtor and debt.
  • Register of creditors' claims.
  • Detailed information about the debtor: marital status, information about dependents, the debtor’s employment, sources of income, estimated living expenses of the debtor and his dependents, the estimated periodic amount that the debtor can use to pay off the debt, other information affecting the ability to implement the restructuring plan.
  • The procedure and terms of debt repayment, sanctions for delaying the schedule.
  • Information about the creditor and debt: name of the creditor, structure of the debt, reasons for its occurrence, the repayment process before bankruptcy, calculations of the current debt, the progress (schedule) of its repayment as part of the restructuring and other information (for each creditor separately).
  • Estimated period for implementation of the plan (no more than 3 years).
  • Obligations of the debtor.
  • Other sections and information are determined individually based on the specifics of the bankruptcy case.
  • Date of preparation.
  • Signatures of the debtor, creditors, financial manager.

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Quite often, the project is drawn up by a lawyer involved, and the plan is agreed upon with the debtor and creditors before formal presentation at a meeting of creditors.

Projects are rarely prepared by the debtors themselves, because they are not competent enough and cannot make the calculations correctly and comply with the requirements. The project can be ordered separately, that is, you can entrust its preparation to a specialist, but this will require additional costs. Finally, projects are often prepared by lenders, but this is usually the case with financial institutions.

List of documents

To carry out the debt restructuring procedure, you will need to collect the necessary list of documents:

  • documents of title to the debtor's property;
  • certificate of income for six months;
  • loan agreement, loan agreement, receipt and other documents confirming loan obligations;
  • personal account from the bank;
  • credit history;
  • statement of consent to the restructuring.

Copies of documents are provided to the court, together with an application for recognition of bankruptcy of an individual. When applying to the arbitration court, you will need to pay a state fee, the amount of which is calculated based on the amount of debt.

The statute of limitations for loan collection is 3 years from the date of announcement of the court decision. After the restructuring, all debt obligations of individuals. faces stop. If creditors did not have time to apply for collection at the specified time, the debt is written off on the basis of Federal Law No. 127.

What is debt restructuring in bankruptcy?

The procedure for declaring a person bankrupt is regulated by the norms of Federal Law No. 127-FZ. Such cases are considered by arbitration courts.

An individual can be declared bankrupt only if several conditions are simultaneously met:

  • the presence of objective reasons why a person can no longer repay the loan (for example, loss of a job);
  • insufficient assets (property, savings, etc.) to repay the monetary obligation to the creditor;
  • the total amount of debt is more than 500 thousand rubles;
  • payments are not made within 3 months from the date established in the loan agreement.

If all these conditions are present and no improvement in your financial condition is expected, you can begin bankruptcy proceedings. According to Art. 213.2 of Law No. 127-FZ, in these cases there are 3 options for further developments: debt restructuring, sale of the defaulter’s property or a settlement agreement with the bank.

Debt restructuring in the event of bankruptcy of an individual is an action aimed at repaying debt.

The purpose of the procedure is to improve the financial condition of the defaulter and restore his solvency. You can prepare the plan yourself, but the court must approve it.

The decision on restructuring is made by the court.

Disadvantages of the debt restructuring procedure

There are two main disadvantages of the restructuring procedure:

  • not the easiest or fastest procedure. During the first 7 months of the provisions of the law providing for bankruptcy of individuals, not a single restructuring plan was approved;
  • the procedure involves many actions on the part of the financial manager, it can last more than 3 years (taking into account the introduction, approval of the plan and the report on the results), and according to the law, the manager’s remuneration for the ENTIRE procedure is 25,000 rubles. It is difficult to imagine a manager who would conduct the procedure for three and a half years for that kind of money.

Property restructuring may be of interest to debtors who own expensive property (for example, real estate) and do not want to lose it, or to those who made transactions with expensive property three years before bankruptcy and are afraid of challenging them. At the same time, debtors must be prepared to bear the real costs of conducting this procedure.

Who is doing the restructuring?

After the bankruptcy application is recognized by the arbitration court as justified, the court will appoint a financial manager to carry out the restructuring of the citizen’s debts.

There are often cases when, in practice, “restructuring” takes place only formally.

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However, this procedure can be beneficial not only for creditors, but also for the debtor himself. This is due to the fact that if the restructuring is successful, the bankrupt will be able to avoid the sale of his own property, challenging previously completed transactions, and also pay off creditors, saving a significant amount on interest, fines and penalties.

In order for the restructuring to be carried out, an individual must meet certain requirements:

  • have a stable source of income;
  • not be convicted of economic crimes;
  • not have bankrupt status within the previous five years;
  • do not have an approved debt restructuring plan within the previous eight years.

At the start of the bankruptcy procedure, the period of administrative punishment for previously committed offenses by the debtor must expire. If a citizen does not meet the listed requirements, then the court can skip the restructuring stage and begin selling the debtor’s property.

As soon as the restructuring procedure is started, certain consequences will immediately occur for the citizen, namely:

  1. the deadline for fulfillment of debt obligations will be considered to have occurred;
  2. the accrual of penalties, fines, penalties and interest will stop;
  3. enforcement proceedings will be temporarily suspended;
  4. any claims of creditors are accepted only in the arbitration court as part of the consideration of the case.

However, this procedure entails certain restrictions on the disposal of the debtor’s property - from the moment the restructuring begins, the citizen will be able to make only small transactions of a household nature

With the consent of the arbitration manager, a bankrupt may enter into such transactions as:

  • acquisition and alienation of property worth more than fifty thousand rubles;
  • acquisition and alienation of any real estate, securities, vehicles;
  • acquisition and alienation of shares in the authorized capital, transfer of property as collateral;
  • receiving and issuing credits, loans, guarantees.

Attention: Any disagreements regarding restructuring measures between the debtor and the financial manager are resolved in arbitration court.

If the debtor enters into such transactions without the consent of the arbitration manager, he may be held administratively liable for unlawful actions during bankruptcy. In addition, such actions may lead to a refusal to write off debts upon completion of bankruptcy, and interested parties will be able to apply to the arbitration court with a petition to invalidate the transactions.

Debt restructuring legislation

The possibility and conditions for revising the repayment of obligations are also taken into account in the legislative framework. Restructuring of a citizen's debts as a bankruptcy procedure is justified by the provisions of the insolvency law FZ-127.

This procedure becomes the most acceptable option for the debtor. In addition to reducing liabilities in the form of stopping the accrual of penalties and fines, it is assumed that the assets of the insolvent person will remain intact. However, the operation is not available to everyone. Several factors are required:

  • there is a source of income;
  • there is no outstanding conviction in the field of economic crimes;
  • the debtor must not have been bankrupt for the previous 5 years;
  • for the period of the previous 8 years, it is not allowed to have another plan for revising the debt repayment procedure.

Non-compliance with the specified parameters allows you to move on to another procedure - the sale of the bankrupt’s assets

Monthly income must be at an acceptable level. It is necessary not only to allocate funds to pay off basic obligations. Receipts should ensure a normal standard of living, that is, there should be enough money for food, clothing, and providing for children.

Actions of the financial manager after the introduction of the restructuring procedure and during the procedure

  • cost of living in the region;
  • living wage for dependents;
  • rent and utility costs;
  • expenses for medications prescribed by a doctor;
  • other expenses depending on the situation.

From the moment this procedure is introduced, the following consequences occur for the citizen:

  • the deadline for fulfilling the citizen’s monetary obligations is considered to have arrived;
  • the accrual of penalties, fines, penalties and other financial sanctions ceases;
  • accrual of interest on obligations ceases;
  • enforcement proceedings against the debtor are suspended;
  • any claims against the debtor can only be submitted to the arbitration court as part of the consideration of a bankruptcy case

The introduction of a debt restructuring procedure provides for restrictions on the disposal of an individual’s property. A citizen can independently carry out only small everyday transactions. The debtor has the right to carry out all other transactions only with the consent of the financial manager, including:

  • acquire and alienate property worth more than 50,000 rubles;
  • acquire and alienate any real estate, securities, vehicles;
  • acquire and dispose of shares in the authorized capital; pledge property;
  • receive and issue credits, loans, issue guarantees.

In the event of a dispute between a citizen and a financial manager regarding transactions, the disagreement is resolved by an arbitration court.

If a citizen enters into such transactions without the consent of the manager, interested parties have the right to apply to the arbitration court with a demand to declare them invalid. Moreover, for carrying out such transactions, the debtor may be held administratively liable for unlawful actions in bankruptcy under Article 14.13 of the Code of Administrative Offenses of the Russian Federation. Which in turn may lead to a refusal to write off debts upon completion of bankruptcy.

For transactions that the debtor can carry out only with the consent of the financial manager, any disagreements that arise can be resolved by the court. Thus, in particular, the debtor has the right to challenge delays in issuing consent to a transaction or refusal to give consent by filing a corresponding application addressed to the court (judge) hearing his bankruptcy case.

The prohibition on the disposal of the debtor's funds that are in his accounts has a limitation. It is clear that the debtor cannot remain completely without money, especially considering that receiving it in cash is not always possible. To protect the rights and interests of the debtor, his right to open a special bank account and dispose of the money there at his own discretion is provided. There are no limits on the receipt of funds into the account, but the amount of monthly expenditure transactions should not exceed 50 thousand rubles.

If a larger limit is needed, the debtor must petition the bankruptcy court. The application and the requested limit amount must be justified with valid reasons.

Protection of the rights and interests of the debtor during restructuring

For transactions that the debtor can carry out only with the consent of the financial manager, any disagreements that arise can be resolved by court. Thus, in particular, the debtor has the right to challenge delays in issuing consent to a transaction or refusal to give consent by filing a corresponding application addressed to the court (judge) hearing his bankruptcy case.

The prohibition on the disposal of the debtor's funds that are in his accounts has a limitation. It is clear that the debtor cannot remain completely without money, especially considering that receiving it in cash is not always possible. To protect the rights and interests of the debtor, his right to open a special bank account and dispose of the money there at his own discretion is provided. There are no limits on the receipt of funds into the account, but the amount of monthly expenditure transactions should not exceed 50 thousand rubles. If a larger limit is needed, the debtor must petition the bankruptcy court. The application and the requested limit amount must be justified with valid reasons.


Debt restructuring in the event of bankruptcy of an individual is a rather complicated procedure. Provides for satisfying creditors' claims by drawing up payment schedules for up to 3 years. In this case, the debtor has the following advantages:

  • can negotiate with creditors to reduce debt and restructure the remaining part of the debt;
  • interest is accrued on the debt amount in the amount of the refinancing rate of the Central Bank of the Russian Federation, instead of bank interest or interest under the agreement;
  • penalties, penalties and fines are not charged;
  • the debtor's property is not sold.

Tags: bankruptcy, debt, person, procedure, restructuring

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The difference between bank loan restructuring and bankruptcy

According to current legal norms, an individual is declared bankrupt if his property and financial assets are not sufficient to pay off all obligations. In this situation, if any liabilities remain after the sale of the property, they will be written off.

It also provides for the possibility of a peaceful agreement between the lender and the borrower. They have the right to independently determine new terms and conditions for repayment of obligations.

Debt restructuring in bankruptcy is aimed primarily at satisfying the creditor's demands, while in refinancing the task is to completely or partially relieve the debtor of the obligations imposed on him.

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