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Wednesday, October 26, 2016

During the year the Russians took the “quick and easy credit” to 117,5 billion

Here also there has come long-awaited vacation time. However, to have a rest abroad will not at all Russians. Because of the debt leaving the country is limited to 2 million people. And almost half of them are borrowers of banks and microfinance institutions (MFIs). Latest services now in demand among our compatriots — the money can be obtained quickly and without any restrictions. But will have to pay more rates reach up to 1,000% APR or more. As a result, the citizens fall into credit bondage. Therefore, in the state Duma suggest is to eliminate the MFIs. However, against such radical measures are the head of the Central Bank Elvira Nabiullina and experts. If you expel MFIs from the market, the population will be only one option — to go to the black market.

photo: Gennady Cherkasov

Debtors travel abroad ordered

According to the Federal bailiff service, the most malicious defaulters are citizens with debts for alimony. Of the 2 million Russians travel abroad, the proportion is 46%. In second place in the ranking of the debtors is located, the clients of banks and microfinance organizations — 40%.

As Chairman of the Bank of Russia Elvira Nabiullina, speaking in the State Duma on June 14, 2015 MFO concluded with a population of 11.27 million loan agreements that almost a third (30,5%) more than the year before.

For the last year physical persons have taken funds in the amount of 117,5 billion rubles, which is 11.7% more than in 2014. The average loan size decreased from 12.2 thousand to 10.4 thousand.

However, the Russians began to seek help for MFIs to borrow money until payday. This behavior of the citizens is understandable — real disposable incomes are falling, and wages are not indexed.

So, in the segment of loans to paycheck” (up to 45 thousand roubles for the term up to two months), on the contrary, loan size has increased from 5.8 thousand to 6.7 thousand.

And citizens sometimes take money for needs not of the first necessity, even to just go to a cafe. “At the end of April, the fall in real disposable incomes of the population amounted to 7.1% in annual terms. Debt of Russians continue to grow. For the last 6 months the growth amounted to almost 5% in absolute terms. In conditions of falling real incomes for the population extremely difficult to fulfill debt obligations. Often, to pay off earlier loans, have perekreditovyvatsya. In the current environment, when often there is not enough money from paycheck to paycheck, and the share of overdue loans is growing (for 2015, it increased by more than 15%), services MFIs will remain in demand. Moreover, the microcredit can be obtained without a large number of formalities very quickly. Albeit under a very high percentage,” — says “MK” analyst GK Forex Club Irina Rogova.

Of course, this kind of loans are designed for you to experience shortage of money to pay. At first glance, to repay 5-15 thousand rubles within a period not too difficult. But if the salary detained (and at present the Russian economy is quite likely), and for a long time? Then waiting for debt bondage, which allowed, as a rule, collectors. And they certainly do not stand on ceremony with debtors.

So many MPs propose to prevent and “lenders”. However, Elvira Nabiullina and independent experts oppose. Too high risk potential debtors is simply gone from the legal market to the illegal. That will only cause more problems. “The demand for short payday loans, and, unless the regulated business, people will go to illegal lenders,” said Nabiullina.

“The idea to ban MFIs is counterproductive. In fact, it is proposed that the state, instead of restoring order in a sphere which is half-criminalized, left, leaving the sector are in demand of financial services at the mercy of the scams of various kinds. Clearly, if there is demand, there will be supply. But if now a citizen, who applies for loan till payday that acts in the legal field and can count on assistance from the state (in the form of rate regulation, the legal and judicial protection), in the case of the prohibition of MFIs and the inability to obtain a Bank loan it just will not be alternatives to appeal to black dealers,” explains senior analytical MFX Broker columnist Robert Novak.

As rightly pointed out by the financial Ombudsman Pavel Medvedev, the debt load is not solved in Russia. Not coincidentally, this theme will be one of the key at the XXV International Congress financial “prospects of development of the financial market” which will pass in St.-Petersburg. “Nominally, the issue of over-indebtedness of the population must decide the law on bankruptcy of physical entities. However, for the 9 months of its actions addressed to him hardly five thousand citizens,” said social mediator.

In the meantime, Elvira Nabiullina offers another way. So, if in March this year, the law established that the debt on the loan taken by the MFI should not exceed 300% of the original amount, by the end of the year it is necessary to introduce not more than 100%. That is, if you borrowed 10 thousand rubles, it will need with all sorts of delays, not more than 20 thousand Now have to pay 40 thousand

If this proposal Nabiullina will take place, collectors will not be interested in working with debtors: too little base percentage.

Collectors come: how the law protects borrowers from dodgeball?

As you know, after banks and microfinance institutions were desperate to recover debts from borrowers, they simply resell them to collection agencies. The latter often resorted to illegal methods to “knock-out” money — up to physical violence. To curb the “bouncers” have the bill collectors, who on 17 June the state Duma adopted in the second, mainly reading.

Document reglamentary communication creditors with the debtors and will apply only to individuals. If it had been and the individual entrepreneurs, for the second reading the bill has undergone changes.

The law only applies to collection of overdue debt, not all debts. Will not apply it in the case of the recovery of debts for housing and communal services. Exception — if these debts officially handed over to credit institutions or collection agencies.

The document forbids the collectors to use physical force and threaten its use, to cause harm to health and property, to put psychological pressure and to mislead. Call the debtor collector will be able to not more often than twice a week, and to-face meetings — no more than once a week. Communicating with the debtor at night is prohibited.

“The actions of collectors in recent years really often go beyond the law. Not coincidentally, the state Duma has attended to the adoption of a separate law regulating their activity. But if the actions of the headers contain signs of penal act, must issue a statement to the police at the scene of the crime. Usually, we are talking about extortion, arbitrariness, beatings and injury of varying severity. For such crimes, has already received public attention, the police almost always respond promptly” — advises the managing partner of the bar “starinsky, Cartago and partners” Vladimir starinskij.

Under the hood of the Central Bank and Rosfinmonitoring

But not all borrowers are integrity and honesty. There are times when a potential customer to get a loan, provides false information — overstates wages, ascribes non-existent property and so on.

Therefore, the Central Bank and the Federal financial monitoring service has found a way to prevent unscrupulous clients who were previously denied loans.

To do this, they will send to the banks black list of clients with whom were terminated existing contracts for services and denied operations.

Now customer data-the objectors do in Rosfinmonitoring from credit institutions and non-Bank financial institutions (pension funds, microfinance institutions).

After this information the Agency reports to the Central Bank. Financial market participants are reluctant to share such information with each other, and the lack of information exchange paves the way for abuse.

Now it is planned to transmit information about clients, the offenders. It will include information about the organization, which refused to the client in the transaction or terminated contract, the date of the decision of refusal, information about the client.

However, experts interviewed by “MK” are skeptical about this initiative. The proposed scheme is very simple: if the client of Bank, pawn shop, kiosk “payday loans “have raised suspicions”, he was denied service and misleading personal information to the Rosfinmonitoring. After that man goes into the national black list and not a single financial organization of the country can no longer serve him,” — says “MK” senior analytical MFX Broker columnist Robert Novak.

It would seem that effective a tool for effective fight against laundering of proceeds of crime. Those same banks it is very convenient — they can save a lot of time and money on analysis of the documents the credit histories of potential customers and so on.

But at first glance everything is so rosy and efficiently. “Imagine the following situation: an employee of the credit kiosk, wanting to take revenge on her neighbor on the landing, submits to the Federal service for financial monitoring a signal that this man caused her suspicions when trying to obtain credit and service was denied. The result is that people across the country deprived of the opportunity of banking services. And his neighbor has no risk — it doesn’t have to prove the guilt of the one of whom she reported “where follows”, it is enough to say that she became suspicious. In General, the wood — chips fly,” continues Novak.

Simply put, along with the real violators Kara might be many innocent people who just someone seemed suspicious. And what do they do? To sue the Federal service for financial monitoring? Or change the name and start life with a clean slate?

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