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When do the debts last?

Insolvent debtors often deduct days until the liabilities that have lapsed over them expire. Unfortunately for them, failure to repay for a certain period does not automatically mean that the debt is unenforceable.

What term?

What term?

The Civil Code provides for two basic deadlines for limitation of debt, counted from the day it is due. The first is 6 years and applies to all property claims and claims that have been confirmed by a valid court judgment. The second term is 3 years for claims for business and periodic benefits.

The law also provides for other limitation periods. Most often, we can meet with a mandatory mandate, which expires quite quickly, after just a year. Similar to claims under the transport contract and a preliminary sales contract. For a year, in turn, the deadline for claims under the contract of sale, resulting from the bank account agreement, contract for specific work (counted from the handover), telecommunications service.

The remaining cases are already three or six years. In the latter there are, among others also inheritance debts. In this case, it is an uncomfortable situation that we must be responsible for paying the debt that does not result directly from the obligation we have made. Until recently, even the lack of knowledge about him did not release the heir from repayment. Within 6 months from finding out about your title to inheritance (most often it is the date of death of the testator) entitled to inherit before a notary or court can make a declaration of rejection of inheritance, simple admission or acceptance with the benefit of the inventory. These last two situations involve liability for debts. Fortunately, now the lack of a statement is tantamount to accepting the inventory with the blessing, and not like not so long ago with a simple reception. This situation is much better, because now we are only responsible for the amount of the obligation that can be satisfied from the estate of the deceased, i.e. in the worst case, we will receive nothing from the inheritance. Simple adoption in turn means responsibility even with own property for the debtor’s debts.

Actions of the creditor

Actions of the creditor

The aforementioned dates, however, do not cause that the debt expires automatically when the debtor has not paid during this period. For this you need the actual lack of interest of the creditor to enforce your claim. This is due to the possibility of stopping the limitation period, which will result in the counting of this time from scratch. The action by which this can be done is even if every action in this case made in court (usually this is filing a lawsuit). However, there are also simpler methods: calling the debtor for settlement, mediation, ordering a bailiff or a debt collection company. Often times, the debtor himself interrupts the limitation period by admitting that he has knowledge that he owes a debt to a given creditor.

Usually, only the light-heartedness and negligence of the person who has the claim allows it to survive until the debt is overdue. Then the commitment expires from the office and its repayment ceases to be required. Even if the creditor brings the case to court, it is enough to raise the allegation of limitation to definitively end the whole matter. However, during this year or several years, when we are obliged to pay off debts, notorious avoidance of payment may involve considerable problems. Therefore, even if we are unable to satisfy the claims of the creditor at the given moment, it is worth taking mediation and establishing mutually beneficial repayment terms.