One of One of the tools for solving the problem of excessive indebtedness of the population is the following Law “On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan”. Kazakhstan”.
The law proposes 3 types of procedures, depending on the type of debt and the amount of the debts (extrajudicial bankruptcy, judicial bankruptcy, and procedure for restoration of solvency).
The most in demand, as practice shows, is the extrajudicial bankruptcy procedure. out-of-court bankruptcy. It can be applied to debts owed to banks, microfinance organizations and collection agencies
Citizens have the opportunity to submit applications at CCNs, through the portal electronic government portal (eGov.kz.), as well as through the mobile e-Salyq Azamat and eGov Mobile applications.
A new information system on bankruptcy of individuals “Qoldau” was launched.
This information system provides for the possibility of filing an application and automatic verification of the applicant's compliance with the entry criteria through the databases of 24 state bodies and organizations. bodies and organizations.
In addition, in Qoldau system, everyone can view real-time statistical data on the bankruptcy of individuals. see statistical data on bankruptcy of individuals in real time.
Second procedure: Judicial bankruptcy, citizens can apply for debts over 1,600 MRP and for all types of debts to creditors.
In the course of judicial bankruptcy the debtor's property is realized at auction.
But here also has its own nuances. The creditor has the right to seize the debtor's only home during the bankruptcy proceedings only if it is the subject of collateral.
The proceeds proceeds are used to pay off debts to creditors in accordance with in accordance with the established order of priority.
The remaining outstanding debt is subject to write-off provided that the debtor has no signs of bad faith. signs of bad faith. That is, he must not conceal property, information about it or provide false information.
Debts for alimony and damage caused to the life and health of another person, compensation for damages for criminal offenses, as well as as well as payments to the budget, collected by court order, are not subject to write-off.
The procedure judicial bankruptcy procedure is carried out by financial managers, which include include:
- Administrators carrying out the procedure bankruptcy of legal entities and individual entrepreneurs;
- Professional accountants;
- Legal consultants;
- Auditors.
Their services paid, at the expense of the debtor's property - one minimum wage per month (in 2024 it is 85 thousand tenge). in 2024 it is 85 thousand tenge). For the socially vulnerable, who have no property, the services of financial managers are paid for by the state.
The third procedure is the procedure of restoration of solvency, which provides for the possibility of obtaining in the court installments for payment of debts (up to 5 years). The recovery plan is developed jointly with the financial manager and approved by the court.
In this case a debtor whose total liabilities (including those that are not due) do not exceed the value of the debtor's property. has not come due) does not exceed the value of its property, has the right to apply to the court only with an application for application of the procedure for restoration of solvency. solvency.
The advantage of of this procedure is the fact that after it a person does not acquire the status of a “bankrupt”, therefore, he is not subject to the consequences, of bankruptcy.
From the day from the date of application of the procedures provided for by the Law:
- the accrual of fines, penalties and interest on debts ceases;
- creditors are prohibited to demand fulfillment of obligations from the debtor;
- creditors are prohibited from collecting money from the debtor's bank accounts and other consequences.