What is the statute of limitations on credit debt. Statute of limitations in consumer lending
Statute of limitations under a loan agreement allows the borrower-debtor to protect himself from the unexpectedly revealed long-standing non-payments within the framework of the law. The duration of the limitation period for the loan agreement, the features of application and other aspects of this legal concept will be explained in our article.
What is the limitation period
In the framework of civil legislation (Article 195 of the Civil Code of the Russian Federation), the limitation period is the time period specified in the regulatory enactment given to the person concerned to restore his violated rights through the court.
The statutes of limitations begin from the time when the party involved found out or due to circumstances should have known that its legal interests were violated. The limitation period may be suspended:
- due to natural disasters or wars;
- the stay of one of the parties to legal relations in the Armed Forces of the Russian Federation, put into martial law;
- moratorium imposed on the performance of an obligation;
- suspension of the current law in relation to interesting legal relations;
- conducting mediation;
- leaving the claim without consideration in the framework of the criminal process.
The statute of limitations is interrupted if the obligated party performs actions that indicate the acceptance of debt obligations. The limitation period cannot be canceled or changed by agreement of the parties.
The total limitation period is 3 years. However, the expiration of the prescribed years from the date the offense was established does not mean that the person concerned will not be able to apply for judicial protection. Even in this case, the statement of claim will be accepted and considered. Only if the defendant declares the expiry of the time given to the plaintiff for judicial restoration of his rights before the judge makes a decision, the claim will be denied.
How much is the limitation period for a loan agreement
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The limitation period under a loan agreement is the period of time at the end of which the debtor in the event of a lawsuit may declare impossibility to recover debt from it. The limitation period for a loan agreement is equal to the general limitation period under civil law - 3 years.
However, as already mentioned, the expiration of 3 years does not automatically annul the debt under the contract and is not an obstacle for the creditor to go to court.
The debtor should be aware of several circumstances:
- The expiration of the limitation period is not considered an obstacle to the recovery of credit debt by non-judicial methods (in writing, by telephone).
- The end of the statute of limitations is not an obstacle to the sale of debt to collectors. With regard to debts for which it is almost guaranteed impossible to collect through the court, collection services are very tough.
- Despite the strong argument from the debtor, the creditor can still go to court. If the borrower does not arrive at the hearing and declares that the plaintiff has missed the statute of limitations, the debt will be recovered and nothing can be done about it. To keep abreast of events, not to miss a possible subpoena, you need to regularly check your mail, especially if the registration address or the address indicated in the contract document does not match the address of the actual residence.
Restriction of the right to claim the main claim
The debt, which is formed as a result of non-payment of the loan, has features. The loan must be paid not in one amount, but most often in monthly installments. Such payments are called time-based. And so the debt is increasing from month to month. If the debtor pays something, then the first debt is repaid.
The limitation period for time payments is calculated separately for each late payment. This position of the courts was set forth in the Decree of the Plenum of the RF Armed Forces “On some issues ...” dated September 29, 2015 No. 43. It turns out that if the debtor did not pay the loan for 4 years, then the limitation period can be applied only to payments of the first year of non-payment, and in order for the statute of limitations to cover the entire debt, it is necessary to wait until 3 years have passed since the delay in the last payment.
How statute of limitations applies to claims for interest
The loan implies that in addition to the main debt, the borrower is also obliged to pay interest. Usually a monthly payment includes:
- part of the debt;
- part of the percent.
Therefore, we can say that these two obligations are interconnected. Here, the rules apply for limiting the period of time for going to court on the same conditions as for the main debt.
So the right to claim interest is limited to 3 years. And since interest is also considered time-based payments, then you can collect them just for the last 3 years. In this case, the obligation arising from the non-payment of interest is considered additional, and as soon as the limitation period for the principal amount expires, the term for claiming interest for this amount also expires (Article 207 of the Civil Code of the Russian Federation).
But in the case when it was established in the contract that interest should be paid later than the repayment of the debt, the terms for these obligations are considered separately. With the passage of the term at the basic request, the lender can still go to court and demand interest.
IMPORTANT! There is one more point regarding the main and additional requirements enshrined in the Resolution of the Plenum of the Armed Forces of the Russian Federation No. 43. If the creditor managed to file a lawsuit in court, demanding repayment of the main debt, and at the same time began to demand interest, then the limitation period continues to flow. While the case is being considered in court, it may end. Then it will be difficult to restore it.
When the limitation period passes for the guarantor
If a guarantor was attracted to receive a loan, the bank may redirect its claims for payment of debt to it. And then the guarantor is already thinking about applying the limitation period.
The guarantee belongs to the category of additional requirements, and, in theory, the norms of Art. 207 of the Civil Code of the Russian Federation, that is, the limitation period for the guarantor must end after 3 years from the date of delay.
But in the rules governing the guarantee itself, there is a nuance. In h. 6 Article 367 of the Civil Code of the Russian Federation, it is said that the guarantee is terminated one year after the delay, if the creditor fails to send a claim to the court for the forced collection of debts from the guarantor. And this is how practice has developed on this subject.
In paragraph 3.2 of the Review of Judicial Practice, approved by the Presidium of the RF Armed Forces on May 22, 2013, the opinion is expressed that the guarantee agreement cannot be considered terminated in terms of the guarantor's liability for the debtor's obligations to the creditor. Therefore, the same three-year period is applied to the guarantor, separately accrued for each payment.
Credit limitation period: nuances of calculation
In connection with some variations in the interpretation of the rule of law in relation to statutes of limitations on credit agreements, lawyers have different interpretations from which date the necessary 3 years should be counted. Judicial practice is also heterogeneous in this regard. The only thing in which the legal opinion is similar is that the countdown of the limitation period for credit agreements does not begin at all from the date of signing the contract.
There are several ways to calculate the limitation period for loan agreements:
- The countdown of the time given to the creditor to restore their rights begins from the day when these rights were violated. That is, under a loan agreement, the payments for which are posted according to the payment dates, from the day the debtor paid off the next payment and stopped paying the loan. This position seems quite logical, because, not having received several payments in a row, the credit institution must understand that its rights are being violated, and can appeal to the court.
- Some courts do not agree with this interpretation. They substantiate their position by the fact that according to Art. 200 of the Civil Code of the Russian Federation for obligations with a fixed deadline, the limitation period begins from the end date of the performance. That is, in relation to the loan agreement, this is the date the loan is completed, without reference to the day of the last payment made or overdue. For example, if a loan was taken in January 2018 for 5 years, then the limitation period will begin to flow from January 2023.
- A certain number of members of the judicial community use the third option. The countdown for the protection of violated rights begins from the date of sending the debtor an official appeal from the bank with a request to pay off the debt.
The first option is used in the vast majority of recovery cases. The Supreme Court of the Russian Federation holds the same position.
Practical application of the limitation period
Putting your hopes on the statute of limitations, allowing to avoid credit payments even through the court, it is necessary to remember and know the following important nuances:
- Any documented contact between the debtor and the creditor (signed statements, agreements, other documents with recognition of debt) resets the statute of limitations. The term begins to count from the beginning.
- An application in the name of the bank for debt restructuring will also annul the elapsed time by that time.
- If part of the debt is paid off, then the statute of limitations that has passed by this time is canceled. The period starts counting again from the date of payment.
- Selling debt to collectors or transferring it to another lending institution does not affect the statute of limitations.
Thus, the statute of limitations is a good guarantor for the debtor from collecting long-standing debts with high interest and fines. However, you need to use this legal norm correctly. Calculation of the statute of limitations under a loan agreement is best left to a professional and contact a lawyer or attorney specializing in such cases.
The length of time when a financial institution is able to fully recover a loan from individuals and legal entities is called the limitation period for the loan. After a certain date, financial institutions, by law, are no longer authorized by the court to return money. This opportunity is actively used by scammers, hoping that they will be able to avoid paying off debt. However, do banks simply forgive the non-payment of loan debts for a period of limitation?
Statute of limitations on loans in 2018
Surely, most people, when applying for a loan, do not even think about how long the statute of limitations for loans is set, and whether it exists at all. But, in fact, according to the law, the statute of limitations on a loan is referred to as provided for by modern legislation.
Provisions of the law for individuals
In 2018, the credit limitation period is 36 months. Further, any recovery of credit debt by banks, including those related to judicial practice, is considered unreasonable.
However, in such a clear question, judicial practice on the statute of limitations of loans shows various options for the development of lawsuits involving individuals to be held liable for non-payment of debts on the loan for prescription. Lawyers disagree - from which day it is necessary to count out thirty-six months defined by law.
Some believe that the statute of limitations on loans for individuals begins to apply when the date comes, which is indicated in the loan agreement as the end of the payment term. Moreover, if the borrower knows what the statute of limitations is, and he does not pay the prescribed fee for the entire duration of the contract, notification from the bank is not necessary. At the same time, it is possible for a bank to charge penalties, fines and other sanctions to a client.
Other lawyers believe that the statute of limitations for loans to individuals ends when the lender has discovered another failure to comply with the rules of the loan agreement. Or, simply, when the borrower has not paid the monthly amount due. Then the limitation period for the loan begins to be counted from the date of the last payment. Before the expiration of three years - the time set for such legal cases in 2018, the bank has the right to go to court and receive from the borrower the full payment of the loan.
The borrower should know that, no matter what the current statute of limitations on the loan is, it can be reset to zero and start over again at any contacts with bank employees. At the same time, the fact of making a bank call to a user cannot serve as evidence of interaction without providing a record of a telephone conversation.
Case law
So, while the statute of limitations on the loan has not yet expired, the financial institution has the right to file a lawsuit with the borrower to repay the funds provided for in the loan agreement.
Each bank necessarily has its own lawyers who have encountered loopholes in judicial practice regarding non-payment of loans to individuals over a statute of limitations.
Most lawyers who file a lawsuit are guided by the first method described above - that is, they try not to attract the attention of an unscrupulous client for as long as possible, while charging substantial penalties and other penalties.
However, the majority of judges in practice in 2018, considering lawsuits on the statute of limitations of the loan, use the second reading of the Code and determine the beginning of the statute of limitations at the time of the last payment established by the contract, which in most cases can be turned in favor of the defendant.
It should be understood: the expiration of the statutory limitation period for a loan, if any, is not a panacea for repaying a debt to a bank or for a court to appeal to a financial institution.
The end of three years is just a good argument in favor of the defendant, if the bank suddenly filed a statement of claim. This can happen in three years, and ten years after the expiration of time.
Moreover - the court will not engage in calculations on whether the statute of limitations for collecting a loan has expired, its decision will be affected by documentary evidence and the activity of the parties. Minimally reducing the existing debt on the loan or completely avoiding paying it to the debtor will help to independently provide documentary evidence. It is best to hire a qualified lawyer for these purposes, the limitation period on the loan by court decision will depend on this.
Bank debt collection
According to the trend that has developed by 2018, it became clear that the bank in any case will not leave the debtor alone and will try to find a way to collect everything that is due to it by law. If the statute of limitations has not passed, the bank may go to court, if this deadline is missed, collectors can connect.
By the tribunal's decision
At present, the bank has the right to file a claim under a simplified procedure - to a justice of the peace if the debt does not exceed 0.5 million rubles. In the enforcement proceedings, it issues a special court decision that saves time by avoiding delaying the process. The writ of execution is handed over to the bailiffs, and those, in turn, ensure the retention and recovery of capital according to official sources - they seize accounts, impose fines on wages.
Please note that from the moment you receive a copy of the court decision, the defendant has the right to challenge it, this automatically leads to its cancellation. However, this will not save you from a lawsuit. The borrower has 10 working days to protest such an order.
Upon expiration
If, according to the existing legislation of 2018, the statute of limitations on loan recovery has expired, and banks understand that it is unlikely that they will be able to return the money by a court decision, they can easily sell the user's debt to collectors. These are representatives of companies without which the repayment of debts in 2018 is practically impossible.
Collectors use absolutely any methods of repaying loan debt, up to illegal threats and direct physical impact. When a collection agency damages a person’s health or property when collecting a debt and this is confirmed by law, he has the right to submit an application to the police department.
With the inaction of the organs of this stage - to the prosecutor. If the bank transfers the debt of the user to the collection company, the expiration of the limitation period for the loan does not start again.
Conclusion
So, the statute of limitations on a loan, defined by law in 2018 as a three-year period, is the time after which the debtor, upon filing a lawsuit against it, has the right to submit an appropriate application and avoid repayment of loan debts.
However, the expiration of the claim period does not guarantee the bank’s refusal to receive its own money — there are many methods for collecting debts from individuals, including involving collectors — which can turn out rather deplorably for the debtor.
Whatever path the bank chooses to repay the debt - a court decision or other methods, it will be unprofitable for the user to execute it. Therefore, the client has to think several times - whether it is worth avoiding contacts with the bank throughout the entire limitation period for a loan or immediately, if it is physically impossible to pay off the debt, notify the financial institution about this and find a solution together.
Unfortunately, after the procedure for obtaining a bank loan was simplified, problems related to this procedure arose. In the wake of active consumer lending, many Russians issued loans, which later turned out to be an exorbitant burden for them.
The crisis in the country aggravated this situation, and many debtors were simply not able to continue to pay the money taken. As a result, banking companies in large quantities began to transfer overdue debts for collection - someone through collectors, and someone immediately through.
Read about how to cope with your debts in an unstable economic situation. If the lender has sued you, do not panic. Usually, all fines are removed from the borrower, and the debt ceases to accumulate. This link tells how the court takes the side of the borrower.
Therefore, a lot of non-payers arose a question - during what period can a law write off a debt, and is this possible in principle? Today we will talk about the concept of “statute of limitations”, and how to apply it correctly.
Did not pay 3 years - is not obliged to pay at all?
The relationship between the bank and the client in this case is regulated by the civil law code. According to him, the period during which the bank can recover the debt from the debtor through the court is 36 months. You will learn about how not to pay 3 years and forget about debt to the bank from this article.
And here the first question arises, on which even experienced lawyers who help clients to avoid paying cannot give a definite answer. From what point is it right to count down?
In judicial practice, there are two most common options:
- In the first version, the countdown starts from the date the bank contract expires.
- In the second option - from the moment of the last payment (that is, from the moment of arrears).
There is a third option. In it, the counting starts from the moment of the last interaction of the debtor with the bank or collectors (that is, telephone communication, written or personal meetings). More information on how debt collection agencies typically collect debts is provided in this review.
If for three years the borrower has come into contact with the bank or its representatives, these 3 years are interrupted. Therefore, if the client does not want to pay according to the law, his duty is to stop all opportunities to contact him.
Do not answer phone calls, do not receive registered letters, change work and phone numbers, change place of residence. If you violate this condition - 36 months will have to be counted again.
How to understand that the statute of limitations has come?
- It is most advisable to take as the starting point the moment of transfer of debt to the court for collection.
- If the delay does not last the first year, but for any reason there has been no appeal to the courts, then it should be considered from the moment of the last installment.
- If after three years the borrower begins to bother the collectors (since banks often transfer such unclaimed debts to them for 10-15% of their value), he should go to court himself. Often, claimants, trying to knock money out of a debtor, seriously break the law. We learn to fight back thanks to the recommendations in this article.
You must do the following:
- Submit a petition to the court to apply the limitation period.
- If you continue to name or write, write a review of your consent to the processing and storage of personal data. After that, employees will no longer be able to bother you.
- If collectors threaten or exceed their authority, write a statement to them to the police and a complaint to the prosecutor. You should know what actions of such recoverers are unlawful, we are talking more about them.
Important to remember- if the debt has been written off, then the borrower's credit risk will not be corrected. And getting a new loan will be very problematic. Therefore, you should use your right not to pay a loan under the law only for a very good reason. About whether it is possible not to pay the loan legally, you will learn from this article.
If a person does not pay his debts and awaits trial, then most likely he will be blacklisted, after which the road to banks and MFIs will be closed. If this did not happen, but the credit history is already very bad, then for further successful interaction with creditors, you can try to fix it, we tell about it
In Russian law there is such a thing as a limitation period. In simple words - this is the period of time during which the lender can recover funds from the debtor independently or in court. Accordingly, after this time, the lender loses its right to recover borrowed funds. The credit limitation period is 3 years.
From what moment is the limitation period calculated
Many people mistakenly believe that the starting point is the moment of signing the loan agreement or the date of the last payment, after which the debt went to be charged. This is not so, the statute of limitations of the loan debt begins after the debtor contacts the bank about overdue debts. I.e when communicating by phone or receiving notification of debt obligations, the term begins anew.
Many banks are not in a hurry to apply to the judicial authority, trying to collect debt on their own, for this they use personal meetings calls or letters. And a few weeks before the expiration of the limitation period, a representative of a financial organization meets with the non-payer and notifies him of the amount of the debt, after which he is asked to sign, and from that moment the limitation period starts from zero.
If the bank assures the debtor that the loan has no statute of limitations - it is not true.
What actions delay the loan debt collection period:
- depositing any amount into a credit account;
- personal meetings with the lender or collector;
- communication by phone;
- receipt of mail letters is relevant only if the recipient received an envelope for personal signature.
Is it possible to collect debt at the end of the limitation period
Definitely possible, but only by illegal methods. In this case, collectors will take charge, not bailiffs. Many debtors return huge amounts of money to banks under pressure from intermediaries, and it doesn’t matter to them at all whether the statute of limitations has passed or not.
Limitation period
Each debtor can independently calculate the last time he contributed funds for paying a loan, contacted bank employees, or at least answered their calls. If from that moment more 3 years, the debtor has the legal right to forget about his obligations. And if collectors or creditors continue to insist on a refund, you can safely go to court.
How can a bank refund
The only way for the creditor is to go to court. Moreover, he can do this within three years, it does not matter, a month or 2.5 years after the last payment. But banks are not in a hurry to go to court, the reason is obvious, for each day of delay the creditor totals interest, fines, and forfeit. If the debt was sold to collectors under a cession agreement, then they are the plaintiff.
But the debtor can be calm, if the period for collecting the loan debt according to Russian law has already passed, the court will not accept the application from the creditor. On the other hand, if the plaintiff succeeds in proving that over the past three years he has contacted the borrower and warned him of the existing debt, the court may consider his statement of claim.
In most cases, the trial takes place without the presence of the parties, the defendant only receives a court decision to recover funds from him.
Even after a court order, the debtor has the right to petition for a review of the case in his presence, and for writing off fines, penalties and forfeits, and they can significantly exceed the body of the loan and the amount of interest.
What will happen after the limitation period
Banks can write off debts for several reasons:
- A small amount of debt, its return will be economically disadvantageous to the organization.
- It will transfer the rights to claim overdue debt to collectors, the bank will incur losses from 90 to 99% of the amount, but will return the minimum part of the funds.
- In the event of the death of the debtor.
- At the end of the limitation period.
The last point is worth paying special attention to. According to the law, the statute of limitations can be canceled if you pay a visit to the debtor, the creditor will certainly try to take advantage of this. Therefore, it is wiser for the debtor to pay the loan properly or specifically ignore the lender, not to come to the bank branch and not answer the phone.
Implications for the borrower
If the bank fails to return the funds, and it will be forced to write them off, and the debtor will subsequently be unable to obtain a loan.
Do not rely on the statute of limitations of the debt to the bank, your obligations must be fulfilled in good faith. If it is not possible to pay the loan on time and in full, you can always agree with the lender on a deferment or restructuring. If it was not possible to resolve the issue peacefully, it is more profitable to bring the matter to court so that the latter can fairly assess the amount of the debt and the procedure for its repayment.
During periods of socio-economic crises, the number of delinquencies in credit obligations always grows. Enterprises are closing down, wages are falling, tariffs and prices are rising. These and other reasons are able to once stably earning people a strong crush in life.
Credit organizations, as a rule, have little interest in the problems of debtors. In case of violation of the loan agreement, banks can go to court. However, it is unlikely that employees of credit and collection organizations will say that there is such a thing as a statute of limitations on credit debt. Let's analyze the main nuances.
Definition
The credit limitation period is the time that is given to lenders to return their funds by legal means. If he left, then no one has the right to demand him. Subdivided into:
- Statute of limitations (pre-trial recovery).
- The statute of limitations on credit debt after court (recovery of enforcement proceedings).
We will analyze each of the concepts in more detail.
The term of pre-trial recovery: concept
The limitation period for credit debt is the time when credit organizations have the right to sue debt collection. You need to know that only bailiffs by court order have the right to describe property, block bank accounts. Sometimes some collectors take advantage of people's financial illiteracy and illegally threaten such actions. Some of them get down to business. Let's say that such actions are criminally punishable.
3 years - limitation period for credit debt
The credit limitation period is three years. It is prescribed by law. However, there is an obvious flaw in the norm: it is not indicated from what time it should be considered. In addition, there is also the concept of interruption, when certain actions actually annul the statute of limitations. This gave rise to various manipulations not only in words, but also in judicial acts.
It is paradoxical, but according to one legal norm, absolutely opposite decisions are made. If courts and lawyers cannot figure out exactly when the statute of limitations for credit debt begins, how can people who do not know jurisprudence do this? We will try to explain in a reasonable way the correct point of view, clarifications on which were given by the highest court - the Supreme Court of the Russian Federation.
At what point is the statute of limitations calculated
So, the statute of limitations on credit debt is determined by the Civil Code of the Russian Federation at 3 years. Everyone considers individually:
- From the date of termination of the loan agreement. This version is usually adhered to by employees of banks and collection agencies. For example, if a citizen took a loan for 3 years in January 2015, then the limitation period for the entire amount of the delay under the contract will end, according to this version, in January 2021.
- From the date of default on credit obligations - this is the position of most courts, which is also reflected in the decision of the Supreme Court of the Russian Federation.
- From the date of contact with the bank, including a telephone conversation.
Calculation example
Let's look at an example. Suppose a citizen has entered into a loan agreement with a bank for 5 years in January 2010. In March 2013, he lost his job and, as a result, could not pay. As a result, huge penalties and fines came in for delinquency, which are several times the amount of the principal debt. The borrower did not agree with this and decided to stop all payments, which is not so rare for our country. The last payment occurred in March 2013. From this moment, the statute of limitations is calculated.
For each payment - an individual term
The Supreme Court of the Russian Federation explained that the statute of limitations is calculated separately for each payment. Let's get back to our example. Recall that in March 2013, the borrower stopped paying for its obligations. The term of his contract ends in January 2015. Thus, in March 2016, not the general statute of limitations for the entire contract ends, but the term for the payment, which was to be made in March 2013.
You will have to finally sleep peacefully only after January 2015, when the deadline for the last payment ends. If the bank sues in the last month, say, in December 2015, then it will be able to recover only the amount of delay for one month.
Credit cards
We will analyze the statute of limitations for credit card debt. When concluding an agreement, there are no mandatory payment schedules. That is, the borrower himself can spend money from a credit card on any day, and then also pay off the debt any day. Moreover, the contract does not indicate how long the payment will arrive. The limitation period is calculated on the last payment. As a rule, banks give a grace period that is not subject to interest. After its completion, the statute of limitations on credit cards is calculated if the borrower has never paid under the agreement.
Termination: truth and fiction
Interruption is the time when the statute of limitations is canceled. It is associated with official debt recognition by the borrower. For example, 2.5 years have passed since the last payment, but the citizen fully recognizes the debt, does not refuse it. It is enough to put any minimum amount on the credit account, and the three-year limitation period will begin to be calculated again.
Many mistakenly believe that any contact with a bank on a loan will invalidate the three-year limitation period. Therefore, some purposefully hide, do not pick up the phone, so as not to contact the bank employees. This is a fallacy that collectors themselves actively support. Interruption of the limitation period occurs when the borrower agrees to the debt. This can only be confirmed by real actions: payment, a statement of delay, etc.
Bailiffs' statute of limitations on credit debt
If the court was still there, then in this case the bank's requirements have a time limit. Let us analyze in more detail the statute of limitations for collecting credit debt, if the court nevertheless passed. After the court ruling, enforcement proceedings are instituted by the bailiffs. A bailiff is assigned to each case. There are legends about how busy they are. In large cities, this is several thousand cases per employee. Naturally, in this state of affairs, there can be no talk of any effective recovery.
6 months - term under writ of execution
The term on the writ of execution is 6 months. During this time, the bailiff must find the property and take measures to recover. After this period, enforcement proceedings may be closed if:
- The debtor has no property.
- The debtor is hiding, it is impossible to find.
- The bank refuses to keep the described property: televisions, tape recorders, etc.
After a six-month period, the bank has the opportunity to re-apply to the federal bailiff service within three years to recover the debt. And so on ad infinitum. The law does not limit the number of appeals. If a trial has taken place, then the creditor may demand debt through bailiffs all his life.
The deadline has passed - have you forgiven the loan?
It is considered a delusion that after the statute of limitations the debt is forgiven. In fact, there is no possibility of judicial recovery. However, the right to claim is fully retained. In other words, if desired, lenders can remind a citizen of their duty all their lives. In practice, of course, this rarely happens, but there are excesses everywhere. The Collector Act, which was issued in 2016, systematized a little communication between the debtor and employees of credit and collection organizations. Now they should be polite, not threaten, not use violence, call no more than four times a day, strictly on weekdays, meet only with the consent of the debtor.
Deadlines have passed: what can banks and collectors do?
What can employees of credit organizations do if the statute of limitations has expired? Upon presentation of an application, the courts are not entitled to consider such disputes. Consequently, the bailiffs will not start writ of execution, come and describe the property. It is important to know that this is only the right of bailiffs by court order, no collectors and bank employees have the right to enter the house and alienate property. Such actions are criminally punishable.
The only thing collectors and banks can do is call for conscience and exert psychological pressure. The more citizens know their rights and legislative acts, the less unpleasant conversations they will have in the future.