FNP: Russians increasingly solve the debt issues with the help of a notary

© RIA Novosti / Eugene Novodanilovskaja on Tverskaya street in Moscow. Archival photoFNP: Russians increasingly solve the debt issues with the help of a notary© RIA Novosti / Eugene Novozenina

Russian notaries for 10 months 2018 more than made 19,1 thousand Executive inscriptions — orders on the debtor’s obligations on the forcible collection of money or property, while for the whole of last year, there were just over 5 thousand labels of the Executive, the press service of the Federal notary chamber.

«Executive inscription is non-judicial form of protection of rights of creditors through a simplified clearance of the debt. Statistics show that the number of those who were able to return their money, avoiding disputes, dealing with collectors and judicial delays that are actively growing. For 2018 notaries of Russia has made more Executive inscriptions than in the previous 3 years», — reported in the FNP.

More than 90% of Executive inscriptions made on the basis of credit agreements. «However, following the banks benefits of debt collection out of court assessed and business representatives, and ordinary citizens. For the Commission of the Executive inscriptions on the basis of notarized transaction, establishing monetary obligations or obligations to transfer property, to notaries began to apply to 3.5 times more», — stated in the message.

As explained in the PNP, the Executive inscription helps to make the procedure of debt collection «as comfortable as possible in principle.»

«If the debtor did not return the debt within the prescribed period, the lender sends a notice that he intends to seek Executive inscription. Two weeks later, the creditor can apply directly for an Executive inscription. The lender presents to the notary the documents required. The notary checks and sending the applicant a copy of the contract filed with the Executive inscription, as well as its original with a stamp on such action. Then the lender directly contacts the bailiff service, which are collection of debts,» — said the press service.

Among the advantages of this order of debt repayment to creditors in the PNP called the low rates for an Executive inscription (0,5% of the debt), the ability to avoid protracted litigation. The advantage for debtors — recovery after the writ of execution refers only to the main part of the debt, interest thereon, and the tariff for the performance of notarial actions, additional penalties for late payment do not take. In addition, the recovery of the debt will deal with the bailiffs and not debt collection firm added in a press-service.

If the debtor does not agree with the words of the Executive, he may challenge it within 10 days.