The Verkhovna Rada supported in the second reading Bill No. 14005, which launches a digital system for the enforcement of decisions. The new rules effectively deprive debtors of the opportunity to hide funds or transfer property to relatives, since data exchange will take place instantly.
The main change is the creation of a direct digital connection between executors, banks and state registries. If previously the paper red tape lasted for weeks, now the full profile of the debtor’s assets will appear in the online system. Bank accounts can be seized almost immediately after the court verdict is issued.
The law paid special attention to the seizure of real estate. The debtor’s only home is now subject to seizure only if the amount of debt exceeds 50 minimum wages – today it is over 400 thousand hryvnias. With smaller amounts of debt, they promise not to touch the roof over their heads.
In addition, the debtor’s status in the registry will automatically block any attempts to sell the car or apartment. The system will need several more months for technical adjustment, after which the collection process will become fully automated and inevitable.
