Ban on car sales due to debts: what awaits millions of Ukrainians

Ukrainians may become heroes of a new law that will cut their rights to sell cars due to debts. The Verkhovna Rada supports the initiative to create a unified database of debtors. This means that a person with any debts will not be able to sell or donate property without paying off the debt.

'Sell your cars while you still can because it may soon become really difficult,' - experts warn.

The essence of the innovation

The government intends to implement an automated system that will record all debtors to the state. Information about them will be obtained from all public institutions, notaries, and banks.

Restrictions for debtors

• Property blocking: owners will not have the right to dispose of property, including cars and real estate.

• Freezing bank accounts.

• Notaries restrictions: they will be prohibited from carrying out transactions with debtors' property.

'If you get into this database, be prepared for difficulties. Notaries will not help you, and your bank account may be frozen,' - experts explain.

If the court decides that the debt must be repaid, the property may be deducted through forced sale.

Who will be affected

This innovation may affect hundreds of thousands of Ukrainians who are debtors for utility services. And although some politicians call the bill 'anti-people', it has already been approved in the first reading.

The only way to get out of the debtors' database is to pay off all debts. The fate of the law is now in the hands of the Verkhovna Rada, which will determine how strictly its requirements will be enforced.

Don’t forget about the rising fuel prices and its shortage in the market.