Attorney
Specialist in bankruptcy of individuals and legal entities. Provides legal support in bankruptcy procedures for individuals, private limited liability companies, legal entities, as well as closing executive proceedings, concluding restructuring and settlement agreements with financial institutions
Case: More than 80% of debt was written off and a loan restructuring plan was approved
Shakhovets Anastasia Service: Personal Bankruptcy
Client’s Situation
A client approached the law firm “Prikhodko & Partners” whose financial situation had become critical due to the so-called “debt trap.”
The total amount of debt was approximately UAH 350,000.
At first glance — a typical debt situation.
However, the situation was complicated by the fact that:
- the client had 17 creditors (banks and microfinance organizations);
- the amount of debt was constantly increasing due to penalties and interest;
- collectors were exerting постоянное psychological pressure;
- it was impossible to resolve the debt situation independently.
That is why the client sought legal assistance to find a lawful way out of the debt crisis.
What did we do?
1. Conducted analysis and chose a strategy
- Analyzed the client’s financial situation,
- reviewed all credit agreements,
- assessed risks and prospects,
- decided to initiate insolvency proceedings.
This is the only legal mechanism in Ukraine for writing off debts and overcoming a financial crisis.
2. Prepared documents and filed a petition with the court
- collected a complete package of documents;
- prepared an application to the commercial court;
- formed the client’s legal position.
3. Opened proceedings in the case
After filing the application, the court opened proceedings, which gave the client key advantages:
- a moratorium on creditors’ claims was introduced;
- accrual of penalties and interest was suspended;
- pressure from collectors was stopped.
4. Worked with creditors
Despite having 17 creditors:
- only 2 creditors filed their claims in court;
- other creditors effectively lost the ability to recover the debt;
- the actual amount of the client’s obligations was determined.
5. Developed a restructuring plan
We prepared a plan that:
- matched the client’s real financial capabilities;
- took into account their income and expenses;
- ensured maximum debt write-off.
6. Achieved court approval of the plan
The court approved the restructuring plan developed by us on terms favorable to the client.
Result
- More than 80% of the debt was written off
- Instead of UAH 350,000, the client pays only UAH 57,516.26
- Approximately UAH 300,000 saved
- Repayment term — only 8 months
- Other debts — cancelled after completion of the procedure
The client received not just a reduction of debt, but a complete financial reset.
Photo confirmation of the result
Key takeaways from this case
- Bankruptcy is a legal way to write off debts
Insolvency proceedings allow you to get out of a debt crisis without breaking the law.
- The number of creditors is not a problem
Even with a large number of loans, most creditors may not file their claims.
- Penalties and interest can be stopped
After the opening of proceedings, their accrual ceases.
Right strategy = maximum debt write-off
It is almost impossible to go through the procedure independently. Legal support allows achieving the most favorable result.
This case demonstrates that even a complex debt situation with dozens of creditors can be resolved legally. Thanks to the professional work of our team, the client wrote off most of the debt, received a comfortable repayment schedule, and the opportunity to start their financial life from scratch. To calculate the cost of the procedure — fill out the form below.
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