How are the funds reimbursed to the creditor in the case of a consumer loan?

As of today, the Cabinet of Ministers of Ukraine has not approved a detailed procedure for compensating creditors for cancelled consumer loans. Accordingly, the procedure for obtaining such compensation is currently unavailable.

Compensation for losses at the expense of the state of Ukraine:

1. Authority to apply: Ministry of Finance of Ukraine (after approval of the procedure by the Cabinet of Ministers of Ukraine).

2. Procedure:

• Wait for the Cabinet of Ministers of Ukraine to approve the compensation procedure.
• After approval, submit an application to the designated authority with the required package of documents:
• Consumer loan agreements.
• Confirmation of cancellation of loan obligations.
• Documents confirming the losses incurred (lost profits, etc.).

3. Recommendations:

• Follow the updates on the official websites of the Cabinet of Ministers of Ukraine and the Ministry of Finance of Ukraine.
• Prepare documents in advance for prompt application after the procedure is approved.

Compensation for losses at the expense of the aggressor state:

1. Authority to apply to: The Ministry of Justice of Ukraine (in particular, to prepare claims to international courts or special compensation funds).

2. Procedure:

• Submit an application to the Ministry of Justice of Ukraine with a description of the losses and a request to include you in the list of creditors for compensation.
• Provide supporting documents:
• A court decision confirming the destruction of property due to the actions of the aggressor state.
• Calculation of the creditor's losses.
• Documents on loan cancellation and contract termination.
• The Ministry of Justice of Ukraine, in the event of the formation of an international mechanism for compensation of losses, will submit a corresponding application on behalf of the creditors to a special fund or an international court.

Important!

Until the procedure for compensation at the expense of the state is approved, it is not possible to apply to the authorities for compensation. However, it is possible to apply to the Ministry of Justice of Ukraine for compensation at the expense of the aggressor state, and this may speed up your inclusion in the relevant lists.