Publication date: 06.06.2024
lawyer, 23 years of experience in enforcement.
How to bypass debts with the help of microcredits during martial law?
From February 24, 2022, martial law was imposed on the entire territory of Ukraine. Due to the large-scale armed invasion, many employees lost their jobs, were forced to leave their homes, and their ability to repay their debts was greatly reduced or disappeared altogether. However, many people borrowed small amounts of money to live in a new area. Question: What is the situation if there is no money to repay debts?
A loan vacation is a temporary suspension of loan payments requested by a financial institution. It is important to recognize that the fulfillment of credit periods is the prerogative of the financial institution, and not an obligation. To find out about the terms of credit periods in a financial institution that has a debtor, the specified person, the latter must contact the institution directly. In the future, the debt must be repaid, therefore, if there is income and the ability to repay the loan, it is more efficient to continue fulfilling the terms of the contract.
Penalties (fines, penalties) and other commissions, the payment of which is derived from the microloan and which were accrued as of February 24, 2022 (the beginning of martial law) for late fulfillment of the terms of the relevant contract, are considered write-offs.
In addition, in the letter of the Chamber of Commerce and Industry of Ukraine dated February 28, 2022 No. 2024/02.0-7.1, the aggression of Russian troops against Ukraine was recognized as an important reason for the emergence of a significant situation. That is, if there is a clause in the contract stating that the reason for non-fulfillment of obligations is force majeure, the debtor has the right to claim that he is not responsible for non-payment or late payment, specifying the specific circumstances that occurred. . It is recommended that the debtor informs the financial institution about the existence of force majeure circumstances in an official letter to avoid future claims by the institution.
Force majeure does not exempt you from repaying the microloan, but instead suspends this obligation until the end of force majeure (martial law).
What is the procedure if you have been attacked by a financial institution?
Despite the martial law, many financial institutions are trying to cash in on their customers' money, including banks, money market funds and credit unions. These institutions charge fees (fines, interest rate changes, and transfer of customer information to collectors).
Paying attention! In case of illegal participation of financial institutions that provide microcredits, a person can contact the National Bank of Ukraine by e-mail or by calling the hotline number 0 800 505 240.
If a fundraising firm is engaging in illegal activity, it is important to contact law enforcement.
Specialists of the legal service "Consultant" will provide legal services and help with pre-trial dispute regulation of disputes, and if necessary, they will accompany the judicial settlement of disputes, as well as help with the preparation of a settlement agreement with the creditor, removal of seizure from real estate, Preparation of amicable settlement with the creditor and support at all necessary stages to solve the relevant issue, Arrest for inviolability as well as provide protection from collectors.
