Legal regulation of the debt collection in Russia and abroad
This article considers legal regulation of collection agencies in the Russian Federation and worldwide and carries out a detailed analysis of legal and normative framework for debt collection in Russia, the United States, Great Britain and other countries. Similarities and differences in legal regulation have been revealed and examples of positive interactions between collectors and debtors are given. The author discusses the new Federal Law adopted in Russia in July 2016 featuring the legal framework for legal bodies to collect debts from individuals. The law sets rules of engagement between individuals and organizations which focus on overdue debt collection. The conclusion of the article evaluates the normative legal act under consideration and measures the impact of the foreign legislation on key provisions of the Russian law.