Since March 3, 2023, the Law "On the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan" has been in force in the Republic of Kazakhstan, providing citizens with three procedures for resolving debt obligations: out-of-court bankruptcy, judicial bankruptcy and restoration of solvency.
Procedure application statistics
Declared bankrupt: 28.4 thousand citizens through the state revenue authorities; 196 citizens by court decision.
The total amount of liabilities is 147.1 billion tenge.
The procedure for restoring solvency was applied by 103 citizens in the amount of 9.5 billion tenge, of which 8 recovery plans were approved.
Since the introduction of the Law, there has been an increase in public awareness: 83,057 applications were submitted in 2024, and 77,106 in 5 months of 2025.
Key changes in legislation
Amendments aimed at simplifying procedures came into force on August 20, 2024.:
The procedure for restoring solvency has become available in the absence of arrears and property, but with a stable income. Out-of-court bankruptcy is now applied to obligations to all organizations that have claims under loan agreements, including microfinance and collection organizations.
The application procedure has been simplified: there is no need to provide information about the creditor and the amount of debt, as well as attach documents.
The procedure for calculating the non-repayment period has been clarified: payments of less than 1 MCI are not considered repayment, the period is calculated from the date of the last payment.
Upcoming changes
The Parliament is considering amendments providing for:
- exclusion of the requirement for debt settlement under loan agreements concluded before January 1, 2025;
- the debtor's right to terminate the out-of-court bankruptcy procedure without giving reasons;
- termination of all obligations of the bankrupt to financial institutions, including those not reflected in the database of credit bureaus, after the completion of the out-of-court bankruptcy procedure.
These amendments are expected to be implemented by the end of this year.

Source : https://www.gov.kz/memleket/entities/kgd-kyzylorda/press/news/details/1014999?lang=kk