Consumers are in debt to improve the quality and standard of their lives. However, it often happens that instead of better it is even worse. In most cases, the situation is that your debt is more than your annual income. What to do if you are unable to pay your financial obligations on time?
Everyone has their rights, even the debtor
One of the most important rights is of course the right to raise a plea for limitation. Many debtors do not even realize that they do not have to pay overdue debts (when they take certain actions). These debts are often claimed by creditors in court. They expire after ten years, but it is possible for them to be barred after three in the case of periodic benefits or those related to business operations.
There are, however, other limitation periods that specify specific provisions. Subject to the provisions of para. 2 and art. 78 claims pursued pursuant to the Act or provisions issued in its implementation expire after one year. 1. Claims for delay in transport which have not caused loss or damage to the package, shall expire after 2 months from the date of delivery. Art. 78. 1.
The carrier’s claims against other carriers
(Articles 5 and 6) shall expire after 6 months from the day on which the carrier repaired the damage or from the day on which an action was brought against him.
It is forbidden to modify the contractual limitation periods – they must not be shortened, let alone lengthen. When signing contracts, particular attention should be paid to contractual clauses, as they may contain information about a longer or shorter limitation period for property claims. The clause which contains this type of information is invalid from the legal point of view and does not apply.
Are you behind with installments?
To be able to take advantage of the limitation period, you must file a complaint of limitation with the court. Everything nice has its catch – it’s the same this time. What if we pay back the debt without knowing that the deadline has expired and we didn’t have to do it? In this situation, unfortunately, it is not possible to apply for a refund.
Another very important element is that the limitation periods only apply to debts that result from property law civil law contracts. The limitation period may be interrupted, especially if we ask the bank to write off interest or spread the arrears into lower installments. At this point, the debtor admits that he has debts to the bank, and then the whole procedure will start again.
It may be interrupted even if the creditor takes the case to court or starts mediation or calls for a settlement. The comforting information is that letters of debt repayment sent by creditors do not interrupt the limitation period. As a debtor, you have the right to obtain information and the creditor must provide this information.
In the first place
The debtor has the right to information which debt the creditor is trying to recover by indicating a specific contract, invoice or court decision. At any time, you can request an accurate debt settlement, taking into account your current repayments. So don’t be afraid to ask questions.
If you have any doubts, be sure to check with the source before taking any action. – Gabriela Sienkiewicz – restructuring specialist If you think that your debts have expired but you do not know what steps to take to free yourself from the pressure of creditors – write or call us! Our specialists will advise and help you get out of financial trouble.