Russian President Vladimir Putin signed a law that allows the write-off of overdue loans of up to 10 million rubles to some participants in the "special military operation" and their wives.
The law terminates obligations under loan contracts of mobilized soldiers, conscripts (except for cadets of military schools and universities) and other citizens who have entered into a contract for service in the armed forces of the Russian Federation from December 1, 2024 . for at least one year, as well as their wives.
Credits for which before December 1, 2024 may be written off. a judicial act for the collection of receivables has entered into force and enforcement proceedings have been initiated. In this case, the amount of credit obligations should not exceed 10 million rubles.
However, enforcement proceedings will not be stayed when it comes to compensation for damages caused to the life or health of a citizen (including death of a breadwinner) or corruption offences. This does not apply to the payment of alimony.
Furthermore, the law defines the categories of citizens who are exempted from payment of a performance fee. They now include servicemen, volunteers and other members of the military service.
The law also extends credit holidays for combatants. Fighters can apply to the creditor with a request to provide them until December 31, 2024. Previously, a grace period was granted for the period of mobilization or the period of the contract, increased by 30 days. Now the free period has been extended from 30 to 180 days.
In the same way, the period in which enforcement proceedings can be resumed against a participant in the operation for the return of an overdue obligation (when the obligation does not fall under the criteria for write-off) has been extended. The deadline is now 180 days after the cessation of hostilities.
As noted in the accompanying documents, the amendments should provide additional support to warfighters. The law will enter into force on December 1, 2024.