In the Republic of Kazakhstan, citizens who have difficulties fulfilling their financial obligations may use procedures for restoring solvency, out-of-court bankruptcy, and court-supervised bankruptcy. Court-supervised bankruptcy is applied when the grounds established by the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan" are present.

One of the grounds is having debt to creditors exceeding 1,600 monthly calculation indices (MCIs). In 2026, this amount is 6,920,000 tenge. In some cases, the amount of debt is not decisive, for example, when obligations to other creditors exist. As a rule, it is also required that the debtor has not made payments toward the obligations for 12 consecutive months and that the measures prescribed by law to settle the debt have been carried out.

The procedure begins when a citizen submits an application to the court at their place of residence. The application must include information about creditors, debts, property, and other required documents. A financial manager participates in the procedure, analyzing the debtor's financial situation, identifying property, and preparing a register of creditors' claims. Property subject to sale may be sold in accordance with the procedure established by law to repay the debt.

After the procedure is completed, the remaining obligations are terminated. However, certain obligations are not written off, including alimony, compensation for harm caused to a person's life or health, certain obligations to the state, compensation for damage caused by criminal offenses, and the remuneration of the financial manager.

Bankruptcy also entails certain restrictions: for five years, a citizen may not obtain loans, except for microloans from pawnshops, or act as a guarantor or surety under certain agreements.

Thus, court-supervised bankruptcy provides citizens with an opportunity to resolve an excessive debt burden, but it requires compliance with legal requirements and entails certain legal consequences.

Source : https://www.gov.kz/memleket/entities/kgd-vko/press/news/details/1303064?lang=ru