Kolesnyk Ilya

Attorney

E-mail

kolesnyk@prikhodko.com.ua

Phone numbers

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

Restructuring of foreign currency loan

A foreign currency loan is a loan issued in a foreign currency (for example, in US dollars or euros). Until 2014, many Ukrainians took such loans, because they were offered by banks at attractive interest rates. For example, banks such as FUIB, Privatbank, Ukrgasbank, Raiffeisen Bank Aval, Alfa Bank and others issued a lot of foreign currency loans.

Such a loan can become a serious burden due to currency fluctuations. Fortunately, Ukrainian legislation offers a mechanism for restructuring foreign currency loans, which allows to improve repayment conditions and significantly reduce financial pressure.

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Why it is important to use our support

According to the current legislation of Ukraine, it is possible not only to restructure debt obligations, but also to reduce them. In some cases, foreign currency loans can be canceled altogether if they were issued with significant violations. Our law firm “Prykhodko and Partners” helps to reduce this burden as much as possible and to return to a free life without problems due to constant calls from bank employees and other moments that arise due to the existence of a large debt.

Independent negotiations with the bank can lead to unfavorable restructuring conditions, which means overpayment. We have extensive experience in this area and know how to achieve a fair solution for you. Thanks to the knowledge of legislation and skillful negotiation, we can achieve a significant reduction in the amount of debt, fines and penalties. We will not only negotiate with the bank, but also check the legality of your foreign currency loan, as well as advise on the tax consequences of restructuring.

Contacting lawyers minimizes the risks of unfavorable restructuring conditions, unfair actions by the bank and additional financial losses. You will pay several times less for our services than we will help you save.

Verification of the legality of a foreign currency loan

This is an important step that can help you avoid problems with the bank and improve your chances of a successful restructuring or discharge of the loan.

Here are some of the reasons why you should check the legitimacy of your foreign currency loan:

Your loan may have been issued in violation of the law. For example, the bank may not provide you with full information about the terms of the loan, or may not be authorized to issue loans in foreign currency.
Your loan agreement may contain invalid clauses. For example, the contract may contain a provision that allows the bank to change the interest rate unilaterally.
Perhaps the bank violated its obligations under the loan. For example, the bank may not provide you with proper loan servicing, or may not fulfill its obligations regarding loan restructuring.

If you suspect that your foreign currency loan was issued in violation of the law, you should contact a lawyer. We will help you check the legality of your loan and, if necessary, challenge the bank’s actions in court.

Writing off a foreign currency loan is a difficult process, but it is possible if the bank has significantly violated the law.

The price of legal advice

Competent restructuring of a foreign currency loan with the help of a lawyer: the way to financial peace

Our lawyers, having experience and knowledge of legislation, know how to achieve the most beneficial restructuring for you.

Here are some key points why you should contact us:

Analysis of credit documentation. The lawyer will carefully study your loan agreement, identify possible violations by the bank and prepare arguments for successful negotiations.
Development of an individual plan. Depending on your situation, a lawyer will suggest the best option for restructuring. fixing the exchange rate, writing off part of the debt, extending the repayment term, changing the currency of the loan, etc.
Professional negotiations. The lawyer will negotiate with the bank on your behalf, protecting your interests and achieving favorable restructuring terms.
Process control. A lawyer will guide you through the entire restructuring process, from collecting documents to signing a new credit agreement.
Legal protection. In case of conflict situations with the bank, a lawyer will represent your interests in court.

The main advantages of restructuring the foreign currency loan

Thanks to fixing the exchange rate or writing off part of the debt, you will pay much less.
A lower monthly payment will ease your financial situation and allow you to plan your budget more confidently.
Smart restructuring can help you avoid late payments, penalties and interest, and improve your credit history.

If you need a consultation or a price for restructuring a foreign currency loan – fill out the form below.

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1 question

Do you have a delinquent loan?

Yes

2 question

Are you unable to meet your loan obligations on time?

Yes

3 question

Would you like to learn how to restructure a loan in foreign currency?

Yes

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.

Successful cases on the topic: