Partner and head of the Bankruptcy practice at Capital Legal Services Irina Onikienko in an interview for the Delovoi Peterburg comments on the main bankruptcy trends in 2019.

The majority of debtors according to Delovoi Peterburg go bankrupt with debts between 1 and 2 million rubles. On average, each bankrupt borrower has up to four loans and no more than two loans in a micro-finance organization. A total of 41% of bankrupt individuals explained the situation by saying they underestimated the financial burden, and another 27% were unable to regulate the situation due to a lowered income – they could not make the minimum payments on time.

In Irina Onikienko’s opinion, such consequences are a result of people in the workforce not having enough to live on. Loans for amounts up to 1 mln rubles are most likely consumer loans, for daily needs, Irina notes, adding that in this trend the indicators for St. Petersburg are in line with indicators for Russia in general.

Full text of the material (in Russian) is available here.