The war that began in Ukraine on February 24, 2022 has made both ordinary people and large companies less solvent. Due to the unsatisfactory financial situation, appropriate changes were made to the current Ukrainian legislation. They provide for some restrictions on debt collection from debtors. That is why debt collection during martial law has certain features. Specialists of our law firm Prykhodko and Partners will tell you about these features in more detail.
Debt collection in the conditions of martial law: what should be considered?
During the period of martial law, debtors were released from liability for late payment of loan funds. Important: this does not mean that the borrower gets rid of the obligation to pay the loan on time. We are talking about the refusal to charge additional payments. The borrower must pay the “body” of the loan and the specified interest.
Forced collection of debt during war has the following features:
- The creditor is prohibited from charging the debtor interest and fines.
However, this does not mean that the lender will not actually do this. In some cases, this issue can only be resolved in court proceedings.
- Notaries do not have the right to make executive inscriptions on credit agreements, if there is no corresponding notary certificate.
Please note: such inscriptions were illegal even before the start of a full-scale war, however, due to the fact that not all debtors sued creditors to cancel such inscriptions – private executors carried out debt collection by force.
- Enforcement proceedings initiated on the basis of a notary’s writ cease to be effective until the official end of martial law.
Important: the banking system met the debtors, allowing them to use the funds of seized accounts (the only condition is that the debt must not exceed 100 thousand hryvnias).
To sum up: compulsory collection of debt during martial law is possible only by a court decision.
Consultation of professional lawyers on debt collection during martial law
Debt collection during martial law is one of the services offered by lawyers Prykhodko and Partners. If the case cannot be settled at the stage of pre-trial proceedings, there is a need to prepare a statement of claim to the court.
Before the trial, our lawyers provide the following services:
- Collection of evidence.
- Preparation of documents.
- Representation of the client’s interests during court hearings.
- Preparation of summons.
- Appealing the court decision (if necessary).
In addition, we will help you draw up a receipt correctly to ensure a 100% money back guarantee to the lender. Remember that contacting our attorneys in a timely manner is critical to success in martial law debt collection cases.
Do you still have questions? We are waiting for a preliminary consultation! To calculate the cost of consulting services of a debt collection lawyer during martial law, fill out the form below.