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Limitation of debts 2019 – when does it occur?

Customers who pay their debts on time are the dream of every institution which makes its liquidity dependent on it. Research shows that this is unfortunately an extinct species. Poles either have no money to pay their debts or they approach the deadlines for their settlement in a very free way.

In this space, we can also clearly see our national tendency to combine and check how quickly (or if at all) the institutions will act to enforce payment from us.

Hence the unflagging interest in the subject of limitation of debts. When is the limitation period for debts? What does it look like from the legal side? Let’s see.

Limitation of debt

Limitation of debt

Have you taken a loan from a financial institution? Did you have a problem repaying your liability? You are probably wondering if it is possible to bar the debt from the bailiff. Of course, this is possible. We can also talk about the limitation period if, for example, you obtained a parking ticket or if you did not pay for a bus ticket.

Limitation will occur only when we do not settle your payment and at the same time no one will ask for your payment. If the creditor submits an application for enforcement in court within the statutory time limit, the limitation period will not be possible. After the creditor’s admonition in any legal way, the limitation period will start again.

KRS vs. expired debt

There are so many ways to get into debt that it is almost impossible for one of us to deal with one of them, although indirectly. We remind you: studies show that men do not fulfill financial contracts more often than women, and their biggest problem is alimony and bills for telecommunications services – although women also have a problem with them. Ladies are often behind with payments for loans and credits.

However, not everyone gets on the National Debtors Register. If the institution does not start the debt collection process early enough or does not take any action at all to enforce repayment, the debt often expires, and thus it ceases to be obligated. Many payers count on this and many of them correctly predict that the entity in arrears with payment will not solicit it. There is no mathematical formula to predict when this will happen and when it will not. In addition, the matter is not so simple.

What about the fact that we will scrupulously calculate the years remaining until the debt expires, if in the meantime the creditor begins the recovery process or takes the case to court – then all the fun begins again. The past months or years will no longer matter and we, through the accrued financial penalties, will become even more indebted. Lucky players who avoid such consequences win the lottery ticket.

When does the debt expire?

When does the debt expire?

Even small but unpaid financial liabilities can grow to really large amounts. We often don’t take fines or fines seriously, and that’s a mistake.

Let us remember that the problems of the most indebted are inextricably linked to the accumulation of penalties for unpaid fines awarded by the court. The Civil Code provides for two basic deadlines when debts can be time-barred. If you find yourself in this situation, you probably wonder when will the limitation of debts you have?