Posted on 10/01/2015 9:53:07 AM PDT by elhombrelibre
Millions of indebted Russians will gain the right to file for bankruptcy for the first time ever on Thursday, as the country's authorities try to ease people's debt burdens as they struggle amid a deep recession.
From October 1, a new law in Russia will allows citizens with total debt of more than 500,000 rubles ($7,600) and over three months of missed payments to file for bankruptcy. In addition, penalties can be imposed on debtors who fail to register as bankrupt if they cannot fulfil loan repayments.
(Excerpt) Read more at msn.com ...
Can the US be far behind? (numbers adjusted, of course)
wHEN THEY TAKE THEIR SHIRTS OFF AND RIDE BEARS, YOU’LL SEE LENDERS RENEGOTATE DEBT!!!!!
;)
I’d like to have the royalties on the videos of Russian drivers for “World’s Craziest Drivers.” I’d have a billion rubles by now.
Maybe Russian involvement in and around Syria will up the price of oil five or ten dollars/bbl.
Kill two birds with one stone, as they say.
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