How has the collection agency received my loan?

There are two ways:

1. Bank ceded your debt under the factoring (assignment) agreement according to articles 1077, 1078, 1080 of the CCU to the factoring company (FC "FC Vector Plus", FC "Key Collect" etc.), which entrusted "UkrBorg" to perform services on bad debts collecting. The reason for the assignment of your debt is your violation of agreement. Thus, the bank is no longer your lender, and you have received a message about it.

2. According to the agency agreement the bank involved "UkrBorg" LLC to implement recovery of outstanding loans of unreliable (bad) clients. Your lender is a bank, and all payments you transfer to account of the Bank.

Why did not anyone inform me that the debt had been reassigned?

Written message was sent to the address specified in your agreement from new lender informing about assignment of a monetary claim upon your agreement. In addition, the letter indicated the current amount of your debt and contact details of a new lender.

Why was my debt sold without my consent as I signed a loan agreement with a banking institution?

According to the article 1080 of the Civil Code of Ukraine factoring agreement is valid regardless of agreement between the client and the debtor on prohibition of claim assignment or restriction. In addition, according to the article 1082 of the CCU the debtor is required to make a payment to the agent, provided that it has received from the bank or agent the written notice of assignment to the agent and this notice defines monetary claim to be performed, and the agent to whom payment shall be made.

Thus, can my debt be assigned to anyone and a number of times without my consent?

The assignment of monetary claim is carried out only with the certificate of registration of financial institution, issued by the National Committee of the financial services, which clearly indicates factoring as a form of financial services. The next assignment of monetary claim to a third party is permitted if it is specified by the factoring agreement.

Shall factoring companies have a license for financial transactions?

Factoring, as an activity, is not licensed. You must have a certificate of registration of financial institution, issued by the National Committee of the financial services, which clearly indicates factoring as a form of financial services.

Why has the bank not submitted a claim for debt for several years, and has announced about it only now?

According to the article 523 of the Civil Code of Ukraine, if the term of fulfillment of obligation by the debtor is not specified or is specified by a moment of a claim submission, the lender is entitled to demand its execution at any time.

What is the basis for the bank to disclose to the agent the confidential information about my debt?

At assignment of monetary claims under the factoring agreement there is transferred information about the borrower, as the second party of civil relations under the loan agreement. The company and counterparties sign certain civil legal acts, which specify the transmission, storage and use of confidential information.

Why is collateral reassessed every six months?

The act on property assessment is valid for 6 months. As the situation in the country is unstable and the real estate market faces constant fluctuations, it is necessary to update the assessment every six months according to the current value of the property. Actual assessment of the mortgage impacts the size of your current debt and individual proposals on its repayment.

Why do you call to relatives, friends and acquaintances, even neighbors?

In certain cases relatives, friends or acquaintances are the guarantors, thus, in breach of debtor's obligations secured by guarantee, the debtor and guarantor bear responsibility towards the lender as joint debtors unless the guarantee agreement specifies the additional (subsidiary) liability of the guarantor. As usual, third parties are not liable by loan as they are not the guarantors; thus, phone calls may contain only a request to transfer important information to the debtor. If you got a call in error (you do not know the debtor), contact the company "UkrBorg" and file a complaint by the phone or via e-mail specified on the website.

What is the voluntary release of collateral and what guarantees do you provide?

Voluntary transfer of the collateral to the lender is issued in the form of notarial statement. In addition, the agreement is made to clearly specify obligations of the parties. The lender guarantees instant compensation upon voluntary release of encumbered housing and deferred compensation at the sale of the property (depending on the sale price). In addition, the debtor can offer own buyer. Upon fact of agreement implementation the debtor receives a certificate on debt repayment.

Do you visit debtors?

On-site groups are located in all regional centers of Ukraine and carry out visits to debtors to settle debts towards the Company.

Do you have the right for eviction/moving in without a court order?

Please note that members of the lender (the new owner) upon power of attorney and according to the extract from the State Register of Rights to Real Estate and their encumbrances (registration of ownership of the lender under the mortgage agreement articles 37 and 38 of the Law of Ukraine "On Mortgage") implement the right of the new owner to own and use the property. It should be separately noted that the change in ownership is the basis for de-registration of previously registered people, thus the question of obtaining a court decision to evict only delays the inevitable actual eviction. See detail information https://www.youtube.com/watch?v=krxvJaQvLiI

Why are there different managers communicating about my debt? Is it impossible to appoint a specific person?

Once you reach an agreement with the representative of the company on how to repay bad debts and sign an agreement, a specific specialist will appoint to manage your case.

When will I not considered to be a debtor of the bank?

Since the repayment of all obligations under the loan agreement, specifically according to article 1082 of the Civil Code, fulfillment of monetary claim by the debtor releases the debtor from its obligations towards the bank.

I do not have the additional property and official income. What items will be assessed?

According to Article 73 of the Family Code, husband, wife, son, daughter are responsible under the loan not only with personal property, but with their part of common property of the family. If the debt is not repaid, and it results in seizure and sale of property of the family, your share of the property, in fact, will be sold to repay the debt. Also according to article 366 the lender of the co-owner of the common property in case of insufficiency of other property that can be levied, can file a claim for allocation of share from common property. The lender is entitled to require from the debtor to sell its share in common property directing the amount of revenue to repay the debt.

When will the calls stop?

Process of bad debts recovery, along with calls from specialists, involves automatic dialing as a reminder about the failure to pay debts on time. You will get calls until the debt is fully repaid. This method does not contradict the current legislation of Ukraine, if calls are made within specified (allowed) period of time.

What are the guaranties of absence of such calls after full repayment of debt?

Upon full repayment of the debt you will receive the documentary evidence at your address, confirming the absence of debt and suspension of all eligible actions of the factoring company towards you.

I made payment yesterday. Why did you not receive it?

Information about the payment is provided by the bank used by you to make payment. The payment is transferred to the account of the lender within 3 business days. If you made a payment through the cash desk of the bank-lender after 4 p.m. (5 p.m.), the funds will be transferred on the next day. As at the time of payment the bank business day is considered closed and payment is not transferred to the account.

Why have I not received a certificate on absence (repayment) of debt yet?

Such certificate will be prepared only after receipt of the full amount of the debt to the account. You will receive it to your address within 2 weeks.

Why did payment details change?

As your debt was transferred upon factoring agreement, your lender has changed as well as payment details.

Why is debt amount constantly increasing?

The amount increases because you did not pay debt, violated your liabilities, thus damaging the lender and now you have to compensate these losses (article 625 of the CCU).

How are fines accrued under the obligation?

According to the article 549 of the CCU there is a fine penalty, calculated as a percentage of the amount of outstanding or improperly performed obligations. Under the agreement the next day is considered the first day of delay. Penalties are provided by the loan agreement. The agreement contains data about their amount and procedure of accrual. If the customer claims that the payment was made on time and has an appropriate receipt, the main causes of the penalties may include the following: - cash received  on account of the bank-lender with delay (e.g., in case of transfer of payment through other banks it can be made within 3 business days, leading to the "late" payment and, consequently, to the fines); - charging fees for money transfer, which occurs in the case of payment through other banks, reduces the total amount of repayment to the account of the bank-lender, and, in turn, leads to the fines; - exchange rate fluctuations (in case of foreign currency loans) may cause a lack of a small amount in the process of converting cash into foreign currency, which leads to the accrual of penalties.

Does your company implement a recovery in the ATO zone? 

Recovery of debts in ATO zone is not performed.