Amendments to the Law of Ukraine "On Consumer Credit" entered into force on January 1, 2021. All the nuances of this step were told to the "ElitExpert" agency by Igor Shavrov, a well-known Ukrainian lawyer who manages the "Shavrov and Partners" law firm.
Now microcredits with a term of no more than a month and no more than the minimum wage (currently UAH 6000) fall under the scope of this law. Now microcredit organizations must provide detailed information about the credit product, it is forbidden to say that the loan is given at 0% and without creditworthiness. The maximum amount of fines is limited to double the value of the loan (for example, they took UAH 4000, fines can reach a maximum of UAH 8000).
Also useful links:
https://asvpweb.minjust.gov.ua/ — here you can check the availability of executive proceedings.
https://erb.minjust.gov.ua/ — register of debtors.
https://court.gov.ua/fair/ — and here you can check the presence of court cases.
