May 23, 2026

Debt is Dangerous


Debt is Dangerous

Russia's debt collection industry has undergone explosive growth over the past five years, with the number of agencies nearly doubling and top earners posting revenues that dwarf the output of many midsize businesses. According to data from SPARK-Interfax reviewed by Verstka, the number of collection organizations in Russia has risen 168% over the past five years – from 446 in 2020 to 750 by 2025, with the Federal Bailiff Service's official registry listing 670 active agencies.

Three firms reported revenues above R10 billion in 2025: First Client Bureau led with R22.5 billion, followed by ID Collect at R13.4 billion and Phoenix — owned by T-Bank — at nearly R13 billion. In the first nine months of 2025 alone, creditors referred R1.2 trillion in debt to collectors, a 57.6 percent increase over the same period the prior year.

The industry's growth has outpaced regulatory efforts to contain it. Russia's Federal Bailiff Service recorded more than 33,000 complaints against collectors in 2025, a record, of which nearly 10,708 were found to have merit. Courts have imposed fines on agencies and the banks that employ them, but awards are frequently minimal — one Yaroslavl resident received just R5,000 in compensation for sustained robocall harassment, and a Penza man who had endured 13 years of threats was awarded only R20,000 of the 5 million he sought.

Reporting by Verstka, including testimony from a former collector, reveals an industry that regularly operates in legal gray zones or beyond them: automated night-call bots, fake police summonses, social media surveillance of debtors' relatives, and veiled threats. Collectors have called soldiers at the front lines, prompted at least one debtor to consider suicide, and driven others to theft.

Despite a 2025 law granting bailiffs new tools to detect violations, and the March 2026 addition of a public complaint portal on Gosuslugi, lawyer and bankruptcy specialist Valeria told Verstka that regulatory pressure produces only temporary results: "After the first court case — almost immediately, there is silence and peace."

Faced with few effective legal remedies, debtors have increasingly turned to personal bankruptcy. Some 568,000 Russians were declared bankrupt in 2025, up 32 percent from 2024, with the service now advertised aggressively on social media. Participants in the war in Ukraine have also gained the right to discharge debts, though courts have had to intervene in cases where agencies continued collection efforts despite the law. Of the 670 agencies currently in the FSSP registry, 124 are flagged for liquidation — a status Verstka found to be largely unenforced.

You Might Also Like

Marriage War Scams Grow
  • September 03, 2025

Marriage War Scams Grow

Russian lawmakers push for tougher rules amid reports of women marrying deployed soldiers to collect benefits.
No Such Thing as a Free Pizza
  • August 27, 2021

No Such Thing as a Free Pizza

Pizza-lovers be warned: a new scam in Russia is targeting those with a craving for cheese and pepperoni. 
Like this post? Get a weekly email digest + member-only deals

Some of our Books

Driving Down Russia's Spine
June 01, 2016

Driving Down Russia's Spine

The story of the epic Spine of Russia trip, intertwining fascinating subject profiles with digressions into historical and cultural themes relevant to understanding modern Russia. 

Stargorod: A Novel in Many Voices
May 01, 2013

Stargorod: A Novel in Many Voices

Stargorod is a mid-sized provincial city that exists only in Russian metaphorical space. It has its roots in Gogol, and Ilf and Petrov, and is a place far from Moscow, but close to Russian hearts. It is a place of mystery and normality, of provincial innocence and Black Earth wisdom. Strange, inexplicable things happen in Stargorod. So do good things. And bad things. A lot like life everywhere, one might say. Only with a heavy dose of vodka, longing and mystery.

White Magic
June 01, 2021

White Magic

The thirteen tales in this volume – all written by Russian émigrés, writers who fled their native country in the early twentieth century – contain a fair dose of magic and mysticism, of terror and the supernatural. There are Petersburg revenants, grief-stricken avengers, Lithuanian vampires, flying skeletons, murders and duels, and even a ghostly Edgar Allen Poe.

Steppe
July 15, 2022

Steppe

This is the work that made Chekhov, launching his career as a writer and playwright of national and international renown. Retranslated and updated, this new bilingual edition is a super way to improve your Russian.

The Samovar Murders
November 01, 2019

The Samovar Murders

The murder of a poet is always more than a murder. When a famous writer is brutally stabbed on the campus of Moscow’s Lumumba University, the son of a recently deposed African president confesses, and the case assumes political implications that no one wants any part of.

Little Golden Calf
February 01, 2010

Little Golden Calf

Our edition of The Little Golden Calf, one of the greatest Russian satires ever, is the first new translation of this classic novel in nearly fifty years. It is also the first unabridged, uncensored English translation ever, and is 100% true to the original 1931 serial publication in the Russian journal 30 Dnei. Anne O. Fisher’s translation is copiously annotated, and includes an introduction by Alexandra Ilf, the daughter of one of the book’s two co-authors.

A Taste of Chekhov
December 24, 2022

A Taste of Chekhov

This compact volume is an introduction to the works of Chekhov the master storyteller, via nine stories spanning the last twenty years of his life.

Fish
February 01, 2010

Fish

This mesmerizing novel from one of Russia’s most important modern authors traces the life journey of a selfless Russian everywoman. In the wake of the Soviet breakup, inexorable forces drag Vera across the breadth of the Russian empire. Facing a relentless onslaught of human and social trials, she swims against the current of life, countering adversity and pain with compassion and hope, in many ways personifying Mother Russia’s torment and resilience amid the Soviet disintegration.

About Us

Russian Life is the 31-year-old publication of an award-winning publishing house that also creates books, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955