Politics 2024-02-15T04:58:19+02:00
Ukrainian news
Rada Allows Write-Off Of Loans For Housing And Cars Damaged Or Destroyed During War

Rada Allows Write-Off Of Loans For Housing And Cars Damaged Or Destroyed During War

Rada, Russia, war, Ukraine, Verkhovna Rada, Russian aggression, loans, martial law, war with Russia, Russia's war against Ukraine, wartime, write-off of loans, property damaged by war, damaged property

The Verkhovna Rada allowed the write-off of loans for housing and cars that were damaged or destroyed during the war.

265 MPs voted for the adoption of bill 7441-1 in the second reading, with the minimum required 226, Ukrainian News Agency reports.

Suspension of loan payments is possible if individual-borrowers of loans for movable/immovable property, which due to the war:

a) was in the temporarily occupied territory or in the territory of active hostilities;

b) was damaged or destroyed as a result of military operations, provided there are supporting documents.

The write-off (forgiveness) of the loan on housing is also provided for:

Borrowers have the right to write off the debt, whose:

- real estate was destroyed as a result of the war.

During the second reading, restrictions on the area of ​​real estate (apartment, residential building) were removed.

But it must be the sole residence of the borrower's family as of February 23, 2022;

- as of February 23, there is no overdue debt under this agreement;

- the purpose of obtaining a loan according to the agreement is the purchase, reconstruction or construction of such real estate, or the purchase of such a car.

In this case, the creditor receives the right for compensation to the citizens of Ukraine for the property destroyed as a result of the armed aggression of the Russian Federation.

The amount of such compensation cannot exceed the principal amount of the borrower's loan.

Other losses of the creditor, such as unearned interest, are lost profits and may be compensated in accordance with the law at the expense of the aggressor state.

For car loans:

Debt cancellation is possible for:

- destroyed cars, the restrictions on the engine were also removed during the second reading. But as of February 23, 2022, it must be the only car in the borrower's family;

- as of February 23, 2022, the debt under such an agreement was not overdue for more than 7 days.

The deadline for submitting applications is the period of martial law in Ukraine + 3 months after the day of its termination.

For each case, borrowers must provide the lender with supporting documents at one point or another.

As Ukrainian News Agency reported, earlier the Verkhovna Rada adopted a law on the specifics of the work of the National Bank, the Deposit Guarantee Fund, the National Commission for Securities and the Stock Market, as well as credit unions during the war.

On March 15, 2022, the Verkhovna Rada decided to recognize territorial defense volunteers as war veterans.

We also reported that in April, the Ministry of Veterans said that only those who directly participated in the battles will receive the status of combatant.