Credit service grace period extended to end of quarantine
Credit holidays already introduced in Ukraine, which exempted fines and fines for late payment of consumer loans from 1 March to 30 April, were extended to the end of quarantine. This change provides for “anti-crisis” Bill No. 3329-D, adopted by deputies of Verkhovna Rada on 13 May.
Thus, the grace period for servicing debts has been extended until the end of this month, when the All-Ukrainian Quarantine will be lifted. This rule applies to all consumer loans issued by banks and financial companies. Restrictions on raising the interest rate also continue: it will be valid for one more month after the end of quarantine.
It is noted that the law also extends loans that are not regulated by the law on consumer loans, including pawn loans, loans up to one month, loans below the minimum wage, interest-free loans and unauthorized overdrafts. Huh.
According to the NBU, the share of overdue consumer debt declined slightly during quarantine.
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We previously wrote that Verkhovna Rada of Ukraine voted in the second reading for Bill No. 2166, which eliminates the payment of single social contributions (ERUs) for self-employed individuals. As a member of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Yevgeny Petrunyak said, the law reforms the current standards and does not allow double payment of ERUs by individual entrepreneurs, who are simultaneously listed in the self-employed. Huh.
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According to the content finclub.net