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
Debt cancellation
In the life of every person there are dozens of different factors that force you to use credit funds at least once. Today, there are a variety of offers in this area: loans are provided by banking and financial companies, microfinance institutions. Lending conditions vary, but each financial structure finds its client. However, not everything always goes according to plan. There are frequent cases when people take out loans and are unable to fulfill the terms of the contract on time. What to do in such a situation? The first right step is to contact a specialist. The lawyers of our office “Prikhodko and Partners” will consider all possible options for getting out of the situation, including debt cancellation. Let’s consider this issue in more detail.
Legal grounds for debt cancellation
It is important to remember that debt cancellation must take place within the framework of current legislation, in compliance with established procedures. Attempts to illegally resolve the issue will have serious legal consequences. Qualified lawyers of “Prikhodko & Partners” will help you choose the most effective legal strategy for debt settlement.
To begin with, we note that debt cancellation is a process that can result in a significant reduction or complete cancellation of debt. This process involves the use of a variety of methods, including:
- Declaration of bankruptcy of individuals.
- Declaration of debt without going to court (pre-trial write-off).
- Debt cancellation in court.
Let’s start with extrajudicial debt cancellation. Declaring bankruptcy of an individual provides an opportunity to cancel debts. This is a fairly effective method of settling debts without going to court. This option is fully controlled by a lawyer, who will help to avoid lawsuits, thereby minimizing negative consequences.
An important aspect is the write-off of so-called “bad” debts (in addition, debts from fees and taxes).
Also, the current legislation provides for the possibility of canceling debts without declaring bankruptcy of individuals. Thus, you can significantly save resources and time, which are always accompanied by legal proceedings. Therefore, debt write-off is carried out through both judicial and extrajudicial mechanisms.
The client’s financial situation can be significantly eased by writing off debts without declaring bankruptcy. The final decision on the option of writing off debts of individuals during bankruptcy is determined based on the circumstances of the case.
Professional lawyers “Prikhodko and Partners” will become your reliable assistants in this difficult process!
Is automatic debt write-off possible?
Many people have a question: is it possible to write off debt if the debtor makes no effort, has no property or official income? Some Ukrainian banks write off credit debts after 10-15 years of delay. However, after such debt write-off, another debt arises – a tax of 19.5% of the written-off funds.
Thus, you should not hope for automatic debt write-off. It is better to contact professional lawyers.
Lawyers “Prikhodko and Partners” provide comprehensive assistance in resolving any financial difficulties of both individuals and legal entities:
- Out-of-court debt write-off.
This option significantly minimizes legal formalities. At the same time, the client receives maximum benefits. Our lawyers successfully initiate the write-off of bad debts (taxes, fees, etc.).
- Active participation in the bankruptcy procedure.
Our specialists will help you cancel debts within the framework of this procedure. If there are objective grounds, debt cancellation is possible without declaring bankruptcy. In this case, we take into account not only the interests of clients, but also the legality of all procedures.
- Implementation of pre-trial debt cancellation.
Our lawyers provide comprehensive support even in the most difficult situations.
The cost of debt cancellation can vary significantly depending on specific circumstances, such as the amount of debt, the number of creditors, the type of debt (consumer, mortgage, tax, etc.) and the complexity of the procedure itself. In some cases, the cancellation may be partial, when restructuring or reducing the amount of debt is agreed, and in others – complete, for example, through the bankruptcy procedure of an individual.
It is quite difficult to understand all the nuances on your own, because each financial case has its own legal characteristics. That is why it is important to seek qualified legal assistance. A lawyer will help you assess your chances of debt cancellation, prepare the necessary documents, negotiate with creditors or represent your interests in court.
Do you have any more questions? We are waiting for a preliminary consultation in a format convenient for you (offline or online)! To calculate the cost of a lawyer’s services for debt cancellation, fill out the form below.
Calculate the cost of services
1 question
Do you need to cancel debts under a credit agreement?
2 question
Do you have any debts with a bank or MFI?
3 question
Do you need legal support?
4 question
Do you need the service urgently?
Is it possible to go through the bankruptcy procedure if the debt is less than 180,000 UAH?
Bankruptcy can be filed regardless of the amount of debt — there are no minimum limits set by law. However, if the amount of debt is less than UAH 180,000, it is usually more advisable to agree on debt restructuring, as bankruptcy may be economically unprofitable.
If I am not in Kyiv, can I cooperate with you?
Yes, we work remotely throughout Ukraine and even with clients abroad! We have many clients from Lviv, Odessa, Dnipro, Kharkiv, Cherkasy and other settlements.
Communication is carried out in any way convenient for you.
You may also need:
Sanitation of the debtor in bankruptcy cases
Read moreDebt restructuring under a credit agreement
Read moreConsultation on bankruptcy of an individual
Read moreProtection of creditors’ rights in bankruptcy
Read moreCredit restructuring in a bank/microfinance organization
Read moreRestructuring of PrivatBank credit card debt
Read moreIndividual bankruptcy
Read moreLegal support of the bankruptcy procedure
Read moreLiquidation of a company through bankruptcy proceedings
Read moreRestructuring debt on a mortgage loan in foreign currency
Read moreLawsuit for recognition of a natural person as bankrupt
Read moreDebt write-off in bankruptcy
Read morecall back
during the day
Compensation for moral, material damage
Protection of honour, dignity, and business reputationContract Development for Business and Legal Entities
Licensing of business activities
Compensation for moral, material damage
Legal services in the field of cryptocurrency and blockchain
REGISTRATION OF COMPANIES AND OPENING OF BANK ACCOUNTS
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Lawyer for administrative cases
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Protection of honour, dignity, and business reputation
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Escort of the tender participant
Trial lawyer: support and defense in court
European Court of Human Rights (ECHR)
