Shakhovets Anastasia
Shakhovets Anastasia

Senior lawyer

Phone numbers
+38 (073) 007-44-54 +38 (073) 007-44-49

Lawyer in the practice of bankruptcy of individuals and individual entrepreneurs. Specializes in write-off of bank and MFI loans through the bankruptcy procedure.

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Write-off of loan debt for the guarantor

Write-off of loan debt for the guarantor

Life is full of unpredictable circumstances, and it happens that people who want to help their loved ones become guarantors for a loan. However, not always everything goes according to plan, and a situation arises when the borrower cannot fulfill his obligations. In this case, the entire burden of responsibility falls on the guarantor’s shoulders.

Grounds for writing off the loan debt for the guarantor

  • Failure of the bank to fulfill its obligations: the guarantor can be released from the surety if the bank has not fulfilled its obligations to him, for example, has not notified about an increase in the interest rate.
  • Invalidity of surety agreement: A surety agreement may be invalidated if it was entered into under duress, threats, violence or in a state of mental disorder.
  • Death of the guarantor: the loan debt can be written off in the event of the death of the guarantor, if this is provided for in the guaranty contract.
  • Insolvency of the guarantor: the guarantor can be released from the guarantee if he is declared insolvent by the court.
  • Expiration of the statute of limitations: if the bank has not filed a lawsuit to collect the debt from the guarantor within the period established by law, the guarantor may be released from the guaranty.
  • Other reasons: in addition to those listed above, there are other reasons for writing off the loan debt for the guarantor, which can be established by the court in a specific case.

Debt write-off for a guarantor is a complex legal process that requires careful preparation and knowledge of the law. Independent attempts to solve this problem can lead to serious mistakes that will make debt cancellation impossible.

Photo Debt write-off for a loan for a guarantor

What are the mistakes when writing off a debt without a legal specialist?

Self-discharge of the loan debt for the guarantor can lead to serious mistakes that will make this procedure impossible or significantly complicate it. Here are some of the most common mistakes:

Incorrect determination of the grounds for debt write-off:

  • This is the first and most important mistake that can lead to the court rejecting the guarantor’s claim.
  • It is necessary to carefully analyze the situation and determine which grounds for debt relief are right for you.
  • It can be difficult to do it yourself, because the legislation is constantly changing, there are many nuances that need to be taken into account.

Incorrect processing of documents:

  • To submit to the court, it is necessary to collect a package of documents that will be proof of your legal position.
  • Incorrectly executed documents may result in the court not accepting them for consideration or not recognizing them as valid.
  • A lawyer will help you collect all the necessary documents and prepare them correctly.

Unprofessional handling of the case in court:

  • Litigation is a complex process that requires knowledge of legislation, experience and the ability to correctly argue one’s position.
  • Unprofessional handling of the case can lead to the loss of the case and collection of the debt from the guarantor.
  • A lawyer will represent your interests in court, protect your rights and make every effort to win the case.

Ignoring the statute of limitations:

  • There is a statute of limitations, during which the bank can apply to the court with a claim to collect the debt from the guarantor.
  • If you miss this period, it will be almost impossible to write off the debt.
  • The lawyer knows all the statutes of limitation and correctly uses this legal basis for writing off the debt.

Neglect of your rights:

  • The guarantor has a number of rights that he can use to protect his interests.
  • For example, the right to demand from the bank to provide information on the progress of the loan agreement, the right to exercise one’s right to demand the borrower.
  • A lawyer knows all your rights and will help you realize them.

Contacting a qualified attorney will help you avoid these mistakes, significantly increase your chances of successfully discharging your guarantor loan debt, and protect your rights.

Legal support from “Prykhodko and partners”: advantages

Contact the lawyers of the company “Prykhodko and Partners” if you need help with writing off the loan debt for the guarantor. We offer:

  • Professional consultation. Our qualified lawyers will give you detailed advice on your issue, determine the optimal strategy of action and help you collect all the necessary documents.
  • Comprehensive support. We will represent your interests at all stages of the case, from the collection of documents to the trial.
  • Individual approach. We approach each client individually, taking into account all the nuances of his case.
  • Transparent prices. We offer fair prices for our services, you will understand exactly what you are paying for.
  • High score. We have a lot of experience with debt settlement cases for guarantors and can guarantee you a good result.

Photo Debt write-off for a loan for a guarantor

Contact the lawyers of the company “Prykhodko and partners” and we will help you to write off the loan debt for the guarantor legally and quickly.

Do you need advice? Do you want to know the cost of debt write-off for a loan from a guarantor? Fill out the form below.

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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.

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Bankruptcy

Agreement on the assignment of the right of claim An appeal against a court decision on debt collection Anti-collector Application for initiation of bankruptcy proceedings Assignment of the right of claim under the credit agreement Bankruptcy certificate for legal entities Bankruptcy of a legal entity Bankruptcy of a utility company Bankruptcy of an individual Bankruptcy of an individual entrepreneur Bankruptcy of individuals Certificate from the Unified Register of Enterprises in respect of which bankruptcy proceedings have been initiated Challenging the executive inscription of the notary on the loan Checking the availability of loans for an individual Collect the debt from the guarantor Consultation of a lawyer regarding credit debts Consultation on bankruptcy of an individual Corporate Bankruptcy (Company Bankruptcy) Credit debt collection Credit lawyer Credit restructuring in a bank/microfinance organization Debt cancellation Debt collection for housing and communal services Debt collection under a credit agreement Debt collection under the factoring contract Debt collection under the loan agreement Debt restructuring for housing and communal services Debt restructuring under a credit agreement Debt write-off for credit / microloans Debt write-off in bankruptcy Declaration of bankruptcy Development of a contract of assignment of the right of claim Development of a debt receipt Development of a loan agreement between individuals EBRD lending Executive proceedings for communal services Fictitious bankruptcy File for bankruptcy Financial rehabilitation and bankruptcy of enterprises Forced collection of debt Forced collection of debt under a credit agreement Gas debt restructuring How to get a certificate of bankruptcy / no bankruptcy? Individual Bankruptcy Lawyer Judicial debt restructuring outside of bankruptcy proceedings Lawyer for credits and microloans (MFI) Lawyer under Art. 200 of the Criminal Code – Illegal actions with transfer documents, payment cards and other means of access to bank accounts, electronic money Lawyer under Article 302 of the Criminal Code – Creation or maintenance of places of debauchery and solicitation Legal advice on loans Legal analysis of credit agreements Legal assistance with microcredits (MFIs) Legal support of the assignment of the right of claim Legal support of the bankruptcy procedure Liquidation of a company through bankruptcy proceedings Liquidation of a legal entity Liquidation of LLC with debts Liquidation of the company under the bankruptcy procedure Mortgage write-off under the bankruptcy procedure Obtaining a certificate of absence of bankruptcy Opening of bankruptcy proceedings Protection of creditors’ rights during the liquidation of a legal entity Protection of creditors’ rights in bankruptcy Protection of the rights of consumers of banking services Recognizing a natural person as bankrupt Removal of seizure from the account for payment of wages Removal of seizure from the debtor’s accounts Restructuring debt on a mortgage loan in foreign currency Restructuring of electricity debt Restructuring of foreign currency loan Restructuring of foreign currency loan Privatbank Restructuring of foreign currency mortgage Restructuring of heating debt Restructuring of the debtor’s debts Sanitation of the debtor in bankruptcy cases Sanitation of the enterprise Statement of claim for collection of debt for utility services Statement of claim for debt collection Statement of claim for debt collection under a credit agreement Statement on insolvency of a natural person Support of creditor in the bankruptcy procedure Support of creditors in the debt collection procedure Support of creditors in the restructuring procedure Support of the bankruptcy procedure of a legal entity Support of the bankruptcy procedure of an individual The bankruptcy procedure of an individual Voluntary liquidation of a legal entity through the bankruptcy procedure Write off a loan for a mortgage (housing) Write off a mortgage loan Write-off of accounts payable Write-off of Borgs for utility services Write-off of loan debt for the guarantor