Information on settlement of overdue debt on consumer loans

1. WORKING METHODS for settlement of overdue debt of the “ЗАРАЗ” Credit Union

2. The procedure for assigning the right of claim under the consumer credit agreement to the new creditor of the “ЗАРАЗ” Credit Union

KS temporarily does not assign the right of claim under the consumer credit agreement and does not involve collection companies in the settlement of overdue debts.

3. Conditions under which the creditor starts the activity of settlement of overdue debt, assigns the right of claim under the consumer credit agreement to the new creditor.

3.1. The creditor starts the activity of settlement of the overdue debt if:

1) the consumer is 30 days overdue in fulfilling his obligations under the consumer credit agreement.

2) the Lender’s decision to postpone the terms or payment terms under the consumer credit agreement was adopted based on the results of consideration of an application from the consumer regarding the postponement of the terms or payment terms under the consumer credit agreement submitted no later than five days before the start of the term or the payment due date (loan repayment and/or interest payment) in connection with the occurrence of temporary financial and/or other complications.

KS temporarily does not assign the right of claim under the consumer credit agreement and does not involve collection companies in the settlement of overdue debts.

4. Procedure and method of repayment of overdue debt

4.1. The consumer has the right to repay overdue debt

4.1.1. In cash through the cash desk of the Lender for the location.

Payments are accepted on working days according to the work schedule.

Cash settlements between a credit union and a consumer within one day can be made exclusively within the limit of cash settlement amounts established by the relevant resolution of the NBU Board (no more than UAH 50,000).

4.1.2. By means of a non-cash transfer of funds to the Lender’s current account according to the bank details for the purpose of payment: “Payment according to credit agreement No. Without VAT”.

4.2. Repayment of overdue debt is carried out in the following sequence:

1) first of all, the overdue loan amount and overdue interest for using the loan are paid;

2) secondly, the loan amount and interest for using the loan are paid;

3) in the third place, the penalty and other payments are paid in accordance with the consumer credit agreement.

4.3. If the consumer delays payment of part of the consumer loan and/or interest for at least one calendar month, and for a consumer loan secured by a mortgage and for a consumer loan for the purchase of housing – for at least three calendar months, the Lender has the right to demand the return of the consumer loan, the payment term of which has not yet arrived, in full.

The creditor shall notify the consumer in writing of such a delay, indicating the actions necessary to eliminate the violation and the period during which they must be carried out.

If the Lender, in accordance with the terms of the consumer credit agreement, requires the payment of overdue payments or the return of the consumer credit, such payments or the return of the consumer credit shall be made by the consumer within 30 calendar days, and for consumer credit secured by a mortgage and for consumer credit on purchase of housing – 60 calendar days from the date of receipt

the Lender’s notification of such a demand. If during this period the consumer eliminates the violation of the terms of the Consumer Credit Agreement, the Lender’s claim becomes invalid.