Putin endorsed a law providing against use of physical force by collectors

Putin endorsed a law providing against use of physical force by collectors

The President of the Russian Federation signed a federal law, regulating legal power of collectors in relation to individuals.

The President of the Russian Federation signed a federal law, regulating legal power of collectors in relation to individuals.

In particular, amendments freeze use of physical force by collectors in relation to debtors as well as the threat to use it. In addition, it is restrained to inflict harm to property and to health of citizens, lean moral coercion on obligators and mislead.

An intercourse between collector and debtor should not intrude, so, the collector has the right to call the obligator no more than twice a week and throughout the day – on weekdays from 8 am to 22 pm, and on weekends from 9 am to 20 pm.

Also, debtors shall have the right to refuse intercourse with the collector sent a notice of rejection by registered mail, or by a notary.

Another important amendment embodies the article according to which collectors have no right to work anonymously, hiding the addresses of mailboxes and phone numbers, all information should be available to the debtor.

It is a reminder that earlier the amendments to Microfinance activities and microlenders Act passed State Duma and was adopted by the Council of Federation of the Federal Assembly of the Russian Federation.

This initiation of bills was stemmed from a spate of criminal activities, committed by collectors in performance of their obligations against debtors.

The amendments aimed at an insertion collector-debtor relations into strict legal framework. Additionally, collection agencies are forbidden to work with debts to housing and public utilities and to collaborate with individual entrepreneurs.

It is reported that the novel goes into effect on January 1, 2017. The full text of the presidential act is posted on the official portal of legal information.

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