How 30 years not to pay the loan and interest and at the same time not to lose the mortgage?
The mechanisms used by Kasyanenko & Partners Law Company to freeze the loan repayment, contribute to reducing the debt burden of borrowers. When freezing a loan, both judicial know-how methods of pressure on the Bank, developed by our law firm, and successful methods of negotiating with the Bank are used. To protect the confidentiality of our procedural know-how, we will not voice our non-standard legal methods of freezing the loan repayment. Our methods of freezing the loan repayment are successfully used by us in all Banks.
What will the Bank do when freezing the loan?
- the processes of debt repayment from the debtor are blocked;
- the inability of the Bank to sell the subject of the mortgage (pledge);
- negotiating with the Bank;
- the process of forced collection of the debt will be blocked;
- in some cases, the Bank is ready to write off 50-80 % of the debt.
What will happen to the court proceedings during the freeze of the loan?
- stops consideration of the case in the courts of Ukraine for an indefinite period;
- obtaining a waiver in favor of the borrower or debtor. Complete failure in the recovery of funds;
What will happen to executive production during the freeze?
- the executor stops enforcement proceedings, ceases to carry out any enforcement actions;
- the executor stops the compulsory sale of property;
- forced entry into housing is not allowed;
- property is not seized;
- no money is seized;
- possible removal of arrests from the property and money of the debtor;
- not limited to travel abroad;
What will happen to the mortgage (collateral) during the freeze of the loan?
- stop any processes related to the implementation of the subject of the mortgage (pledge;
- in some cases, the mortgage can be realized;
- the inability of the lender to foreclose on the subject of the mortgage;
- there is an opportunity for the debtor to use the property, receive income;
Freezing of the loan repayment means delaying the repayment of the loan for a long period of time, i.e. from three years or more without paying the loan amount, without paying interest and penalties, without increasing the financial burden for the borrower with a write-off of 50% to 80 % of the debt, and in some cases, full exemption from debt.
The method of freezing the loan repayment does not require written approval from the Bank.
Managing partner of the Kasyanenko & Partners Law Company Dmytro Kasyanenko explained what a freeze. The credit freeze is applied in cases when the terms of restructuring do not suit the debtor, or there is no money to pay the current debt on the loan, or the Bank sued the debtor. In most cases, the freeze of the loan repayment is necessary for debtors To delay the repayment of the loan for a long period of 3 (three) years or more. Applying the methods of freezing the loan repayment, with the help of our law firm, the debtor can keep the collateral, as well as, if necessary, to agree with the Bank on the restructuring of the loan on favorable terms for the debtor. During the freeze, the Bank will not be able to collect the loan, will not be able to take the collateral.
The freeze of the loan repayment differs from the restructuring in that during the freeze of the loan the debt burden on the debtor decreases, namely, the debtor can, if desired, temporarily not pay the loan due to financial difficulties, wait for better times or buy out the mortgage subject for 30-50% of the debt amount.
At the same time, there is no need to sign a restructuring agreement, since any restructuring implies an increase in the financial burden on the loan, and the freeze doesn’t.
In most cases, restructuring is not beneficial to the borrower. In the case when the restructuring is signed, the debtor will have to repay a significant part of the loan funds, may increase the interest on the loan, may increase the term of repayment of the loan and, accordingly, interest payments, besides, the Bank may require additional guarantors or additional collateral, and even increase the loan body. So the loan repayment freeze does not entail any increase in the financial burden on the debtor.
If you value your reputation, are tired of constant tension and fears due to your debtor status, want to settle your debt, Kasyanenko & Partners Law Company our specialists are ready to find an individual solution for you that will satisfy your personal needs.
Everything you need to do?
One of the main keys to success in defending their rights in conflict with the Bank, a timely appeal for qualified assistance.
Are you having trouble paying off your debt? Does the Bank threaten to take away mortgage housing? Do not delay the decision until the time when it will become even more difficult.
To resolve the issue with the Bank, the following documents are required from borrowers:
- Loan agreement with the Bank;
- All amendments to the loan agreement with the Bank;
- Mortgage agreement with the Bank;
- All additions to the mortgage agreement with the Bank;
- The contract of guaranty Bank;
- All additional agreements to the guarantee agreement with the Bank;
- All the graphics Bank;
- All restructuring agreements (if any) of the Bank;
- Photocopies of materials of court cases on claims of the Bank, if any (from the first article to the last page). We can take these documents ourselves in court!
- Photocopies of materials of executive production on Bank statements (from the first item to the last page). This document we can take ourselves in the executive service!
- Bank statements on your loan agreement, on all accounts, for the entire period of validity of the loan agreement from the moment of signing to the present day.
High-quality legal support is the best guarantee of the debtor’s release from the threat to say goodbye to mortgage property.