Nearly 9,000 Russians and businesses were declared bankrupt in the first quarter of 2018, with 50-60 % growth expected by the end of the year, according to Izvestia.

It is mentioned that the number of individuals seeking bankruptcy is increasing, as it is possible to avoid responsibility for non-payment of debts and start a new life.

Courts forgive 90% of the applicants' debts.

In total, 29876 citizens and legal entities were declared bankrupt in 2017, whereas in 2016 this figure was 19,658.

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