As the practice of Kasyanenko & Partners Law Company shows, despite the fact that the current legislation of Ukraine imposes certain requirements on Banks, the latter continue to systematically violate them. That is, even the fact that you were given a loan, it is quite possible to successfully appeal in court and recognize the loan agreement invalid. After that, the parties return to their original state: the lender did not give money to the borrower, the borrower did not sign any papers obliging him to pay the loan.
Another situation is also possible: the borrower will be obliged to return to the Bank only the body of the loan, and the Bank, the interest that the borrower managed to pay. Most likely, the interest can be obtained immediately, but the body of the loan you will give twenty percent from each salary for a very, very long time., in this case, inflation will certainly not be on your side.
That is why, in order not to be in a similar situation, remember what kind of loan agreement you entered into and whether the Bank has fulfilled the following requirements of the law.
Before you enter into a loan agreement, make sure that the Bank has issued you under the signature (for review) such information:
- forms and types of lending, which differ in the obligations of the borrower on them;
- the total cost of the loan and the cost of its registration (indicative data), information about the costs preceding the conclusion of the contract (administrative Finance, insurance, registration by a lawyer, etc.).
- several options for the return of credit funds (just a few, not one-imposed by the financial institution that you could choose).
- option for early repayment of the funds and its terms and conditions (also prescribed in the Treaty itself).
- explained the pros and cons of the proposed credit schemes.
However, even this list is not a complete list of what the Bank is obliged to provide you with full information before you enter into a contract.
What if the Bank sued?
Whatever the circumstances of your payments to repay the loan (or lack thereof), the Bank may not violate the General, legally justified, principles of granting loans. For example, a Bank cannot issue a loan if the borrower has to pay more than half of his salary every month. This is taken into account based on the income statement provided to the Bank.
At the conclusion of the contract, the Bank must issue the borrower to sign a Contract that does not violate the requirements of the law. The contract must specify: the obligations of the lender and the borrower, responsibility for non-fulfillment of obligations, the procedure for liability, termination of contractual terms, etc.
Once the contract is signed, the Bank cannot violate your legal rights. For example, sending the borrower to sign a contract to change the interest rate on the loan is a gross violation!
The Bank sued
Based on the experience of lawyers and lawyers of Kasyanenko & Partners Law Company we can say with confidence that the above violations of the current legislation by Banks take place almost on a permanent basis. I would also like to point to articles 203 and 215 of the Civil Code of Ukraine, which States that the loan agreement in any case should not contradict the legislation of our country, as well as the moral foundations of a civilized society. If the opposite is allowed, then the contract will be declared invalid in court proceedings. That is why, if you want simple human respect from a Banking institution, be prepared to defend your legal rights. And the specialists of our company will help you in this.
To begin to resolve all issues with the Bank-mortgagor, the borrower must collect and provide the following documents:
- The agreement based on which the loan funds were issued;
- Additions to the contract;
- Mortgage agreement;
- Additions to the mortgage agreement;
- The contract of guarantee on the loan;
- Possible agreements under the surety agreement and amendments thereto;
- Charts provided by the financial institution;
- The agreement to restructure, if this is the place to be;
- Materials of court disputes (these documents our lawyers can claim independently, if necessary);
- Materials Executive (these documents our lawyers can claim independently, if necessary);
- Settlement statements of the financial institution (from the moment of conclusion of the contract to the present time).