Russian lawmakers "abolish" a significant economic sector
Got a scoop for you, pals! Russia's diligent lawmakers are mulling over a new bill that intends to strike down debt collection practices, as reported by RIA Novosti, according to the document's text. As things stand, the Federal Bailiff Service (FSSP) runs a registry of 520 debt collection agencies, active on the front lines of debt recovery.
Behind the Scenes: This bill aims to put brakes on the transfer of credit agreement rights to third parties by creditors. The borrower will be granted the power to request, within 10 days of signing the agreement, the exclusion of third parties from debt recovery activities. On the brighter side, credit organizations can opt for “in-house” debt collection, following the legal guidelines, which may include reminder calls, debt restructuring options, and loan extensions. If no progress is made, these institutions can resort to the courts.
Often, credit organizations dump their debts on these agencies. As of 2025, the average overdue debt in Russia has ballooned to 185,000 rubles, a 27% surge from the previous year when it was 146,000 rubles. Our website reported this troubling trend, citing data from the National Association of Professional Collection Agencies (NAPCA). Boosted income for individuals averages around 58,000 rubles, which is more than thrice the typical debt amount, as per data from NAPCA.
The spiraling mortgages delinquencies, standing at an unprecedented high of 100.6 billion rubles early this year, could further exacerbate the issue. There's no word yet on whether this ban will force collectors to operate in the underworld and what plans the state has to combat shady collectors.
Bill sponsor and Social Policy Committee Chairman Yaroslav Nilov expressed his concern about borrowers subjected to psychological pressure, harassment, and humiliation at the hands of these agencies and urged for a legislative ban on these practices to secure peace of mind for citizens.
To navigate the tricky waters of debt collection and protect yourself, here's a post on our site outlining what to do when collectors come knocking, especially if their tactics stray onto the darker side of legality.
Stay informed with our daily Zen.News newsletter, join our Telegram, or catch us on VK!
- I'm not sure if this new bill in Russia will force debt collectors to operate in the underworld, but it aims to put a stop to the transfer of credit agreement rights to third parties.
- The Federal Bailiff Service's registry, which includes 520 debt collection agencies, might see changes in debt recovery practices due to the proposed legislation.
- The bill, sponsored by Yaroslav Nilov, intends to secure peace of mind for citizens by banning psychological pressure, harassment, and humiliation practices by debt collectors.
- In the general news, politics, and business sectors, the debate around the new bill and its impact on the recovery of debts is gaining momentum.
- As debtors grapple with rising overdue debts, economy indicators such as the average debt amount and borrower income reports from NAPCA could be significantly affected by the passing of this bill.
