Social Fund received over 6,000 private citizens' bankruptcy requests from the Bankruptcy Register. 97% of those requests have been successfully processed within a single business day while the remaining 3% are still being processed, with the responses to be forwarded within the appointed time.
"We have processed 74,000 responses from credit institutions within two months. In the past, people had to get bank certificates on their own, but now the entire process takes no more than a day," said Sergey Chirkov, Chairman of the Social Fund.
Starting from September 1, 2025, the Social Fund has the authority to request banks for information pertaining to private individual bankruptcy proceedings to be settled out of court. That relieves citizens from the need to request and retrieve certificates confirming they meet the bankruptcy requirements. The entire process has been set up to not require the applicant's participation, through inter-departmental interactions only. Banks and the Tax Service also participate in the information exchange, along with banks and the Bankruptcy Register.