Personal insolvency in Russia: the growth in the number of court decisions accelerated in June

The article considers the reasons for the increase in the number of consumer insolvencies in Russia. The conclusion is made that the trend is based not so much on economic factors, but on the demand for the procedure as a way of legal release from debt, and the response of technology development by market professionals and insolvency administrators. According to the author, the regional dynamics is influenced by the level of financial literacy and the demand for services of microfinance organizations. The author expects the emergence of a new layer of insolvencies, thanks to the adoption of the Law on out-of-court insolvency, but no earlier than in the spring of 2021.