A lawyer. Rostov-on-don, Russia

In a difficult economic situation the loans are borne by the Russians unsupportable burden, and many are looking for a way to absolve themselves of the financial burden. From 1 July 2015 any Russian will be able to declare themselves insolvent. Russia ahead of schedule comes into force the law regulating the bankruptcy of individuals. the Legislative initiative is supposed to help fell into a "debt trap" citizens to repay their debts according to the "unaffordable" loans. The provisions of the law will apply not only to Bank loans, but for loans between individuals and the debts for utilities. How it will look in practice remains to be seen. We will answer your questions, and who can officially become bankrupt, you need to complete the bankruptcy procedure, and what are the pros and cons hidden in this status.