"Bankruptcy Advertisement Ban Starts from January 1, 2026!"
In a move aimed at increasing transparency and combating deceptive practices, the State Duma in Russia has adopted changes to the federal law "On Advertising," introducing a new Article 28.1: "Advertising of services related to the bankruptcy of citizens."
The poll results, conducted by Komsomolskaya Pravda on social media platforms, indicate a general sentiment of dissatisfaction with the practices of debt relief companies. A third of the polled suggested that advertising for such companies should be completely banned, while 90% of participants support the tightening of the approach to debt relief advertisements.
The poll findings highlight the perceived deceptive practices of debt relief companies and the need for increased transparency in the bankruptcy market. Complaints about misleading practices in debt relief services have reached State Duma deputies, leading them to bring order to this sphere.
Starting September 1, the following requirements for debt relief companies' advertising will be in effect: advertisements cannot guarantee or promise debt release, must include warnings about bankruptcy's negative consequences, and must advise clients to consult their creditors and local Multi-Service Centers. Advertisers and distributors of advertisements will face penalties for violating the new law.
By the end of 2024, the volume of advertising related to "debt reliever" services is estimated to have grown by a third compared to 2023, exceeding 2.7 million. This surge in advertising has been met with concern, with a significant portion of the polled readers believing that the new law comes "about time."
The total volume of debt relief services in the past year exceeded 70 billion rubles, with an average check of 200,000 rubles. The Director of the Retail Collections and Settlement Division of Sberbank, Denis Kuznetsov, expressed support for the new law, advocating for dialogue with borrowers and advising them to seek advice from banks.
In addition to the new regulations on bankruptcy advertising, the December 2024 amendments to the Law on Advertisement also require website owners to allocate at least 5% of all annual advertisements to "social advertisements" — ads that promote charity, socially valuable goals, or state interests. These social advertisements are often used to promote patriotic education, support for the Russian military, and adherence to "traditional values," reflecting the state's agenda.
This general tightening and redirection of advertising may indirectly affect advertisements related to financial and legal services, including bankruptcy services, by controlling content and promoting state-aligned messaging. The motivation behind these changes appears to be to increase the state's ideological control over information dissemination on the internet, promote social stability and patriotism, and limit potentially destabilizing or politically sensitive content.
These changes align with broader Russian state policies targeting internet content, including censorship and control over information flows. Approximately 5,000 readers participated in the poll, with almost every second respondent stating that debt relief companies are deceiving people and the restrictions should have been implemented earlier.
If you want detailed rules explicitly about bankruptcy advertising, additional sources or official Russian government publications would likely be needed because the available summaries focus on general advertising amendments and online content control initiatives.
In the context of the newly implemented regulations on advertising, there may be a potential impact on businesses offering financial services, such as debt relief companies. With the heightened transparency and restrictions placed on debt relief advertisements, these changes could shape the landscape of the business environment.
Moreover, the December 2024 amendments to the Law on Advertisement, requiring at least 5% of annual advertisements to promote social values and state interests, could indirectly influence the content and messaging of financial and legal services, further aligning with broader Russian state policies aimed at controlling internet content.
