On February 1, 2024, amendments to the legislation governing the repayment of overdue debts came into force. Now, in accordance with Article 9 of Federal Law No. 230-FZ, creditors are required to notify debtors of the transfer of the rights to claim the debt (assignment) within five working days after such transfer. Previously, the deadline was 30 calendar days.
Creditors are required to publish a notice on the sale of debt in the Unified Federal Register of Information on the Facts of Activity of Legal Entities (Fedresurs). Only debtors whose debts have been sold will have access to this information. In addition, creditors must notify debtors of the sale of debt in another way: by registered mail, by e-mail, by delivery against receipt, through a notary or through Public Services.
These changes are aimed at ensuring greater transparency of the debt sale procedure to protect debtors’ rights, as well as to prevent possible abuse by creditors.
The debt purchase and sale procedure itself does not change. On the ETP Debt Market, you can still sell or buy debts profitably and conveniently. Our experts will help you arrange the trading procedure, offer their recommendations on the price or other terms of the transaction.
In general, when making transactions for the purchase and sale of debt portfolios, the following important circumstances should be taken into account:
1. According to Articles 382, 384 and 388 of the Civil Code of the Russian Federation, the creditor has the right to sell the debt to a third party without the consent of the debtor. At the same time, the contract may contain a prohibition on assignment.

Debts related to specific circumstances or the debtor’s personality cannot be transferred. These include alimony, compensation for moral damages in violation of the rights of others, debts for housing and communal services, etc.
3. Banks and MFIs can sell debts only to certain types of organizations:
legal entities engaged in professional activities in providing consumer loans;
professional collection organizations;
specialized financial companies;
individuals specified in the written consent of the borrower, received by the lender after the borrower incurred overdue debts under the consumer loan agreement.

4. The right (claim) may be transferred in whole or in part at the discretion of the original creditor, including overdue and unpaid debts.
5. The assignment must be executed in the same way as the original transaction. If the transaction has been notarized, the assignment agreement must also be notarized.
6. If the debtor has not been notified of the sale of the debt, and he has paid the debt to the original creditor, the new creditor may not require the transfer of funds from the debtor again. Instead, he should receive these funds from the seller of the debt portfolio.