Oleksandr Zhukov: how to protect yourself from debt default

Date:

In the Ministry of Justice answeredwhich you need to know so that the debt is returned on time and in full.

Record the moment of money transfer

Most often, money is lent under the promise of returning it within a certain period, and there is a mistake in this. After all, if you do not record the moment of transfer of money into debt, then it will not be possible to prove the fact of such transfer.

Civil Code the procedure for providing and transferring funds from one person to another, either a natural person or a legal entity, is provided for.

The person who lends money is called the lender, and the person who receives the money is called the borrower.

If the amount of funds is not significant enough and does not exceed ten times the amount of the tax-free minimum income of citizens (this amount is UAH 170), then the contract can be concluded orally. But it is better to confirm the fact of money transfer with the borrower’s receipt.

A written document is required

If the loaned amount exceeds ten times the amount of the tax-free minimum income of citizens, that is, more than UAH 170then it is advisable to conclude the loan agreement in writing.

In accordance with the second part of Article 1047 of the Civil Code, the borrower’s receipt or other document certifying the transfer of a specified amount of money or a specified number of items to him by the lender may be submitted as confirmation of the conclusion of the loan agreement and its conditions.

It is worth emphasizing that the receipt in itself is not a loan agreement – it is only a confirmation of such an agreement that was concluded between the parties, and it also directly certifies the fact that the debtor received a certain amount of money or things from the creditor. This legal position is expressed in the resolution of the Grand Chamber of the Supreme Court dated January 16, 2019 in case No. 464/3790/16-ts.

From the content of the debt receipt, the existence of debt relations should be obvious. The information must provide an opportunity to accurately identify the persons who entered into the relationship.

What should be the receipt

The borrower writes the receipt in his own hand, which must contain such information:

– the name of the document is “Receipt”;

– date and place of drawing up the receipt;

– the borrower’s surname, first name and patronymic, his/her passport data and place of residence (also the place of actual residence if the place of registration and place of residence do not match);

– surname, first name and patronymic of the lender, his place of residence and passport data;

– the amount owed (exact amount and currency) (it is worth noting both in numbers and in writing to make it impossible to correct the amounts);

– the date when the debt must be returned;

– date and place of drawing up the receipt;

– personal signature of the debtor;

– surname, name and patronymic of witnesses (at least two), their passport data and place of residence (including actual residence), signatures.

What is a loan agreement?

A loan agreement is an agreement between two parties, according to which one party (the lender) transfers to the other party (the borrower) money or other things determined by generic characteristics, and the borrower undertakes to return the same amount of money or the same number of things to the lender kind and of the same quality.

A loan agreement can be concluded both in a simple written form and with a notarized certificate. The written form of the loan agreement has advantages, because its conditions can be specified in detail: the obligations of the parties, the order and terms of settlement, etc.

If the loan agreement does not specify the date when the agreement enters into force, then it is considered concluded from the moment of transfer of money or things determined by generic features.

The fact of transferring money (things) under the contract can be confirmed by a receipt.

You need to keep the receipt or contract until the debt is returned.

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