Kolesnyk Ilya
Kolesnyk Ilya

Attorney

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

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

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Redemption of a loan or debt

Redemption of a loan or debt

Redemption of a loan or debt

The redemption of a loan or debt can be dealt with directly by both the debtor himself and the collectors. True, the debtor can redeem his credit or debt from a banking institution only in case of bankruptcy or liquidation of a banking or financial institution.Ugrin Svyatoslav

Collectors, on the other hand, can redeem loans and debts from banking and financial institutions on the basis of cession agreements, in other words, through the assignment of claims. True, loans and debts are bought out mainly by small or medium portfolios with a large discount, or at a very low percentage of the real value.

Is it profitable for a banking or financial institution to sell a bad loan or debt at a deep discount? We can say yes. So, having sold a loan or debt, the bank immediately receives a certain amount of money, although not much in comparison with the total debt, but it should be borne in mind that while the debtor was using the loan, the bank has already earned, therefore, the interests of the bank are in no way infringed upon, of course, if we are not talking about large foreign currency loans.

Is it profitable for the debtor to buy out the loan or debt by the collectors?

In principle, it is beneficial for the debtor when one collection company buys out all of his loans and debts from different banks and financial institutions. It is easier for such a debtor to communicate with one company that has bought all his loans and debts, and it is also easier to agree on a repayment schedule and possible restructuring. It often happens that debtors themselves ask the collection company to buy out a loan or debt. Thus, the debtor has the opportunity to combine all debts into one, which simplifies the moment of interaction with the creditor, and makes it possible to certain restructuring. It is much easier for a debtor to service one loan or debt than several.

Is it profitable for collectors to buy out loans or debt?

It is profitable for collectors to buy loans or debts in small or medium portfolios for 10-30% of the real value, and sometimes even lower. So, with a little effort, and having sold at least 10% of the purchased portfolio, the collection company not only reimburses the purchase costs, but also makes a good profit. But we are talking about buying out small or medium portfolios.

It is not profitable for collection companies to buy out a loan or debt of individual debtors, since servicing such a loan or debt will be unprofitable. Therefore, collection firms often refuse to debtors and do not want to redeem a loan or debt.

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Debtor's rights protection

A statement of claim for the removal of a seizure from a bank account A statement of claim for the removal of seizure from property A statement of claim for the removal of the attachment from the debtor’s funds Appealing a loan agreement Appealing executive inscriptions Appealing the executive proceedings in case of imposition of a fine by the TCC Application for writing off interest on the loan Bank protection Claim for cancellation of debt for communal services Claim to lift seizure of property and accounts Close a loan in cryptocurrency Collector protection Complaint to the NBU against the MFI Credit history appeal Credit history check Debt cancellation in court Debt collection during martial law Debt collection for utility services during the war Debt collection from military personnel Debt write-off for utility services Determination of a current bank account for spending transactions Exemption from loan debts Forced collection of debt Freeze credit Individual bankruptcy Judicial debt restructuring outside of bankruptcy proceedings Judicial support of cases with the Unified State Register of Legal Entities Lawsuit for recognition of a natural person as bankrupt Lawyer for credit debts 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 analysis of credit agreements Legal assistance with microcredits (MFIs) Objection to the claim for debt collection Recalculation of the amount of the debt in court Recognizing a natural person as bankrupt Redemption of a loan or debt Removal from the unified register of debtors Removal of encumbrance from movable property Removal of seizure from property in enforcement proceedings Removal of seizure from the account for payment of wages Removal of seizure from the debtor’s account Removal of seizure from the debtor’s property Remove the arrest from the apartment Remove the attachment from the account, property, apartment, car Response to the claim for debt collection by receipt Restructuring debt on a mortgage loan in foreign currency Restructuring of foreign currency loans Restructuring of PrivatBank credit card debt Salary account unlocking Statement of claim for collection of debt for utility services Statement of claim for debt collection under a credit agreement Statement of claim for debt collection under a loan agreement Statement of claim to appeal the actions of a state enforcement officer Sue the bank Termination of executive proceedings of a serviceman The single register of debtors is the price of removal from the register of debtors Unlocking debtors’ account Write-off of accrued interest during martial law on loans for military personnel Write-off of debts of an individual in Ukraine Write-off of interest on a loan to the military in Ukraine Write-off of loans and interest on loans to female military personnel Write-off of single tax debt (SP) due to bankruptcy Writing off debts and loans