Ukrainians may be banned from selling cars due to debts: what is known.

According to inkorr.com: Ukrainians may find themselves in a difficult situation due to a new law that limits their ability to sell cars due to debts. The Verkhovna Rada supported the initiative to create a unified database of debtors, which prohibits individuals with any debts from selling or gifting their property without paying off the debt.

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

Main provisions of the innovation

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

Restrictions for debtors

• Property blocking: debtors will not be able to dispose of their property, including cars and real estate.

• Freezing bank accounts.

• Restrictions for notaries: they will be prohibited from conducting transactions with the property of debtors.

'If you are listed in this database, be prepared for difficulties. Notaries will not help you, and your bank account may be frozen,' experts explain.

In the event of a court decision regarding debt repayment, property may be seized forcibly.

Who will be affected?

This law may affect hundreds of thousands of Ukrainians who have debts for utilities. Despite some politicians calling this bill 'anti-people', it has already passed the first reading.

The only way to get out of the debtor database is to pay off all your debts. The fate of this law is now in the hands of the Verkhovna Rada, which will decide how strictly it will be enforced.

In addition to this, we should not forget about the rising fuel prices and its deficit in the market.