The State Revenue Department of East Kazakhstan Region of the Ministry of Finance of the Republic of Kazakhstan informs that effective March 3, 2023, the Law of the Republic of Kazakhstan "On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan" (hereinafter - the Law) came into force in the country.
The Law offers three procedures for resolving individual debt issues: out-of-court bankruptcy, judicial bankruptcy, and restoration of solvency.
The out-of-court bankruptcy procedure applies to debts under 1,600 Monthly Calculation Indices (MCI) owed to banks, microfinance organizations, and collection agencies (debt not exceeding 6.2 million tenge). Applications can be submitted through the e-government portal (eGov.kz) or via the mobile applications e-Salyq Azamat and eGov Mobile..
The procedure lasts for six months, after which the bankrupt's obligations are subject to termination.
As of June 1, 2025, a total of 6,491 applications for the out-of-court bankruptcy procedure have been submitted in East Kazakhstan region since the Law's inception on March 3, 2023, including:
2023 – 1927;
2024 – 2180;
2025 – 2384 applications.
From 6 491 applications:
Refused – 4671 applications;
Under consideration – 1078 applications
Completed – 742 applications.
Thus, as of today, 742 citizens have been declared bankrupt through the out-of-court bankruptcy procedure. Debts to second-tier banks, microfinance organizations, and collection organizations totaling 2,123,572,686.90 tenge have been written off, including:
2023 – 209 people in the amount of 817 050 906,10 tenge;
2024 – 305 people in the amount of 765 125 137,30 tenge;
2025 – 228 people in the amount of 541 396 643,50 tenge.
Judicial bankruptcy can be applied by citizens if their debt to banks, microfinance organizations, and collection agencies exceeds 1,600 MCI, or for other debts regardless of the amount, as well as when property is present.
126 applications were received for the application of the judicial bankruptcy procedure in the East Kazakhstan region, including:
2023 - 32 applications were received. Of these: 20 applications were accepted. 9 applications were left without consideration. 3 applications were rejected. Of the 20 accepted applications, 5 were terminated at the appeal stage. 15 applications were completed, resulting in declarations of bankruptcy totaling 5 724 370 063.0 tenge.
2024 –53 were received: Of these: 22 applications were accepted, 18 applications were left without consideration, 13 applications were rejected. Of the 22 accepted application, 1 application was terminated at the appeal stage, 7 are in the procedure (the deadline has not been completed), 14 were completed, resulting in declarations of bankruptcy totaling 637 482 825,7 tenge.
2025 - 41 applications were received: Of these 8 applications were accepted, 7 applications were left without consideration, 6 applications were rejected, 20 are under consideration in court.
The procedure for restoring solvency provides for the possibility of obtaining court-approved installments for debt payment (up to 5 years). The advantage of this procedure is that a person does not acquire the status of "bankrupt" afterward, thereby avoiding the consequences associated with bankruptcy.
40 applications were received for the application of the procedure for restoring solvency in East Kazakhstan region, including:
2023 – 2 left without consideration;
2024 – 4, of these 2 were accepted, 1 rejected, 1 left without consideration.
2025 – 34, of these 11 were accepted, 1 rejected, 6 left without consideration, на 16 under consideration in court.
Installments for 5 years were provided to 13 individuals, totaling 142 897 950 83 tenge, including:
2024 – 33 732 027,87 tenge;
2025 – 109 165 922,96 tenge.
Effective August 25, 2024, amendments to the Law introduce provisions fo:
Revised Grounds for Procedure Application
- Applying the solvency restoration procedure no longer requires having overdue debts or property.
* The out-of-court bankruptcy procedure can now be applied to obligations owed to all organizations with claims from bank loan agreements, loan agreements, and micro-credit agreements for individuals. This includes organizations that have been deprived of a license, are under liquidation, or have been excluded from their respective registers.
1 Simplified out-of-court bankruptcy application
a debtor is relieved of the obligation to specify creditor information or debt amounts in the application, or to attach any supporting documents.
2 clarified calculation of non-payment period
payments on debts of less than 1 MCI will not be considered repayment, and the period of non-repayment under contracts assigned to a collection agency will be calculated from the date of the last payment until the assignment of the right (claim)
3 changed settlement period
if the period of absence of payments exceeds 12 months, no debt settlement is required.