Sverdlovsk Region: Number of Personal Bankruptcies, Sole Traders’ Bankruptcies Up 61.3%

UrBC, Yekaterinburg, January 22, 2019. More than 1,500 Sverdlovsk Region private residents and sole traders went through personal bankruptcy/asset disposal procedures last year, which exceeded the figures for the year 2017 (965 people/sole traders) by 61.3%, United Credit Bureau’s and FedResurs’s joint research findings indicate.

It is reported that only 5.6% of potential bankrupts actually went through the procedure in 2018 (overall number: 27,680 private individuals and sole traders, up by 3,320 people on a year earlier). Based on this criterion, Sverdlovsk Region comes No.4 after Moscow, Saint Petersburg, and Krasnodar Territory.

The share of potential bankrupts came to 1.6% of all borrowers in 2018 (up 0.1% on a year earlier). In Russia on the whole, the percentage is at its highest in Ingushetia (3.3%), Buryatia (2.4%), and Magadan Region (2.4%).

Now potential bankrupts are people who have more than RUB 500,000 in debts and haven’t been making repayments on at least one of their loans for ninety days or longer. There were around 748,200 such Russians in the country as of January 1, 2019; this comes to 1.3% of the overall number of borrowers with active accounts. This is also 6% more than one year earlier.

In the country on the whole, the number of private individuals and sole traders going through personal bankruptcy/asset disposal procedures rose by 47%, from 29,800 people in 2017 to 44,000 people in 2018.

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