Credit vacations for the military

During the period of martial law in Ukraine, the issue of financial obligations for military personnel has become particularly relevant. Individuals defending the state often face difficulties in timely loan repayment. According to current legislation, certain categories of military personnel during martial law (for the duration of their service) are exempt from penalties and interest on loans. Mobilized individuals may apply for credit holidays from the date of conscription. In addition, family members of military personnel (wives, husbands) are also eligible for preferential conditions. In this article, we will подробно examine the conditions and особеності of credit holidays for military personnel. If you or your family members need legal assistance, please contact the specialists of the law firm Prikhodko & Partners.

Who can qualify for credit holidays?

Credit holidays are a deferral or easing of the terms for fulfilling loan obligations. For military personnel in Ukraine, special guarantees apply: banks are not allowed to charge penalties, late fees, or increased interest for delays during the period of service. In some cases, suspension of mandatory payments or their restructuring is also possible.

The following categories are eligible for credit holidays (i.e., the right not to pay penalties and interest): mobilized persons, reservists, and contract service members. At the same time, the place of service does not matter. As for contract service members, those who participated in hostilities or defense-related activities after February 24, 2022, may use this benefit.

Who is eligible for credit holidays

To apply for credit holidays, a set of documents must be provided. For reservists and mobilized persons: ID or military ID; certificate of service (Form 5); marriage certificate (if the benefit is оформлюється by a spouse).

Legal assistance

Despite legislative guarantees, in practice military personnel often face violations of their rights. Banks may continue to accrue interest, demand repayment of the debt, or even transfer cases to collection agencies. Sometimes financial institutions refuse to apply benefits for formal reasons or delay the consideration of applications.

In such situations, it is important to act correctly and with proper legal justification. Engaging a lawyer from Prikhodko & Partners allows for effective protection of the serviceman’s rights. A specialist will help:

• properly prepare an application to the bank for granting credit holidays;
• collect and prepare the necessary documents;
• conduct negotiations with the bank regarding debt restructuring;
• challenge unlawful actions of the financial institution;
• protect the client’s interests in court.

Lawyers of Prikhodko & Partners can also review the loan agreement and identify violations by the bank, which may serve as an additional argument for reducing the financial burden.

Ignoring the problem may lead to debt accumulation, deterioration of credit history, and even the initiation of enforcement proceedings. Instead, timely обращения to a lawyer helps avoid negative consequences and maintain financial stability.

Thus, credit holidays for military personnel are a real support tool provided by the state. However, for their effective use, professional legal assistance is often required. Lawyers at Prikhodko & Partners will help not only to take advantage of the available benefits but also ensure reliable protection of rights in complex financial situations.

Do you still have questions? We look forward to a preliminary consultation in a format convenient for you (offline or online)! To calculate the cost of legal services on financial matters, please fill out the form below.