The State Duma approved in the first reading a bill on the comprehensive settlement of debts of individuals

In the first reading, the State Duma adopted a bill proposing the introduction of a comprehensive settlement procedure for Russians' outstanding consumer loans and borrowings. This initiative will help citizens simultaneously reorganize their debts in various financial and credit organizations, banks and microfinance organizations (MFIs). This was confirmed on February 11 by documents published in the database of draft laws of the State Duma.

"To adopt the draft law in the first reading, to submit amendments to draft law No. 1034778-8 "On Amendments to Certain Legislative Acts of the Russian Federation" (regarding the comprehensive settlement of individuals' debts to creditors)," the text says.

The draft, created by Anatoly Aksakov, Chairman of the State Duma Committee on Financial Market, and a group of senators and deputies, if approved, will prescribe the creation of a unified and urgent procedure for resolving the debt of a borrower who has concluded contracts with two or more creditors before the onset of legal proceedings.

This, as indicated in the explanatory note, will allow the person who made the delay to coordinate an individual debt restructuring plan with all creditors. The individual will be expected to cooperate with the organization from which the funds were withdrawn. The result of the interaction between the parties may be changes in the terms of loan servicing or even the provision of deferred payments and partial debt cancellation.

At the same time, if the amount of debt exceeds 25 thousand rubles, the creditor is obliged to notify the debtor of the right to comprehensive debt settlement. However, in this case, the debt should not be in the recovery stage, and its owner should not be in the bankruptcy process.

The lender who receives the application from his client becomes the supervisor of the procedure, which he organizes. He will be obliged to inform the Bureau of Credit Histories (BCI) about the activities that have begun, and the BCI, having received the information, must notify other creditors who decide on the status of loan agreements. A Russian citizen, in respect of whom this procedure has been initiated, can also apply to the financial commissioner with a request to verify ongoing actions in order to identify potential violations. It is emphasized that until the settlement is completed, the creditor will not be able to forcibly collect the debt.

The burden is longing: Russians' overdue loans have reached a record 1.6 trillion

Why have borrowers become worse off paying their debts and how does this affect the availability of loans

On December 29, 2025, Russian President Vladimir Putin signed a law gradually tightening the rules for issuing consumer loans to MFIs. This bill, as it was emphasized, is aimed at strengthening the protection of borrowers' rights and reducing the debt burden of citizens. It was noted that starting from October 2026, Russians will not be able to have more than two consumer loan agreements with a full loan value exceeding 200% per annum each.

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