If a citizen has taken a loan from a bank or any other credit institution and has not repaid anything within 3 years after the due date, the debt is considered overdue (obsolete) - this is well known to the Financial Bureau, the Bank or similar companies, which despite the above, use the language of blackmail when talking with people. They send letters to a borrower with various contents, make calls to their family members, neighbors and threaten with the measures provided by law, court, arbitration, bureaucracy, sale of property at auction, seizure of real and movable property, seizure of all bank accounts, imposing court, arbitration and execution payments by way of entering your data in the debtors' register, not avoiding the threats whatsoever directed to guarantor in addition to that. If an older debt could have been settled in court or arbitration, a bank or other credit institution would have resorted to it and would not have transferred it to a private limited liability company. These are bad debts that the bank got its hands on precisely because it had no legal or real resources to remove them. In the light of the above, a private company is trying to revive such bad debts with such letters and methods.
What does resurrection mean? It is enough for you to sign a ten-year loan on the acknowledgment form that the debt has been revived and the 3-year maturity will begin to flow again. After that you can really apply to the arbitral tribunal or the courts. That is why the Financial Bureau and similar companies are doing their best to persuade unsuspecting debtors to sign a declaration. They are willing to bother your parents, neighbors, relatives, co-workers, and influence your reputation, even by agreeing to a long-term debt repayment agreement, which automatically leads to debt recovery and a number of problems.
When does obsolescence arise? The maturity of the loan is considered to have emerged as from the date of occurrence of the default. That is, for example, the client has a loan to repay on December 31, 2019, but he fails to repay it. In this case, when the payment deadline has come and the debtor has not paid, then the statute of limitations begins to flow. According to law, the statute of limitations starts when the creditor learns about the violation of his right. In this case, when December 31st came and the bank did not receive the loan amount, a debt repayment request arose. The bank may, on the following day, conditionally file a lawsuit in court on the first of January. But, if it does not take this step within 3 years, the statute of limitations will be considered expired. In other words, the borrower undertakes to pay the amount he was required to pay within 3 years of filing the lawsuit. Clarify on the following points, the loan company is fully entitled to address the court, but on the occasion of expiry of the statute of limitations, as indicated above, it is a failed attempt if the borrower knows that he must say one phrase at the trial - "My loan is obsolete."
