Elena Gladysheva, Advocate, Managing Partner of RI-Consulting, reflects on the following urgent topics
- Is it legal to grant loans to a physical person declared bankrupt?
- Consequently, is it legal to refuse to grant loans to such a physical person?
- What will happen if a person does not inform when applying that he has been declared bankrupt?
At the legislative level, there is no direct prohibition on extending credit to an individual. Even Federal Law No. 127-FZ does not contain such restrictions. Thus, according to the law it is possible to grant loans to individuals. At the same time, banking and other credit institutions are more willing to give credit to such individuals who have passed the insolvency procedure, because within 5 years after a citizen is declared bankrupt there is no possibility for the citizen to re-submit such an application.
Thus, it is impossible to unambiguously determine the refusal to grant a loan to such a person as illegal, because according to the banking system, persons who have passed the insolvency procedure are in the banks' register, but, it is illegal to refuse on the basis of only this procedure.
There shouldn't be any consequences, since the bank usually checks credit history and bankruptcy information. And there will be no guilt if there is no possibility to warn, but such a possibility should be. Article 213.30, clause 1 of Law No. 127-FZ states that when applying for a loan, a physical person who has the status of a financially insolvent is obliged to notify his creditors about it. The maximum penalty is a refusal to grant a loan.
LINK TO THE PUBLICATION
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