If the borrower ceases to make loan payments at some point , the banking organization after a few months begins to take measures to repay the debt. But she does this only until a certain point. The credit limitation period expires when the financial institution abandons attempts to repay its funds. It lasts three years. That is how much time is given to the creditor to repay the debt. But from what exact moment does the countdown begin? And what threatens the borrower with non-payment of loans?
Can a bank forgive debts?
A person’s financial situation may suddenly deteriorate. There are many reasons for this: illness, job loss, or other circumstances. In such a situation, sane people tend to limit their spending. But what to do to a person who managed to conclude one or several loan agreements in more favorable times, and the inability to fulfill obligations makes his life unbearable? For borrowers whose financial situation has not improved over the course of several years, a law is envisaged according to which banks have no right to bother him after a certain time after the last deposit of money into a credit account. Is the bank able to forget about those who owe it?
The fact that the statute of limitations on credit debt is three years, every borrower knows. However, for some reason, even among experts there is no consensus on when it is necessary to start the countdown. In addition, almost every judicial institution tends to interpret the statute of limitations on credit debt (Civil Code, Art. 196) in its own way.
What date should be counted?
This question is quite controversial. First of all, you need to know that the timing does not start from the day the contract with the bank is concluded. Many borrowers believe that the statute of limitations on credit debt should be considered from the date the loan was received. And this is the main error. Courts often rely on the condition that this period starts from the moment of the last transaction, that is, from the day the borrower made the monthly loan payment for the last time. Decisions made by the Supreme Court and the Supreme Arbitration Court of the Russian Federation are often based on this position.
Another opinion
But in our country, there are still a lot of judicial institutions expressing disagreement with such an interpretation. Referring to Art. 200 Civil Code, they argue that the statute of limitations on credit debt should be counted from the date on which the end of the contract of an individual with the bank. Consequently, on the basis of such a statement, if a borrower took a loan for six years, but ceased to pay on it a year after its execution, only eight years later the limitation period for credit debt expires.
Appeal
It should be said that not all courts are guided by this position. And the countdown occurs only in those court cases in which we are talking about cash loan arrears, because cards are often unlimited. But in the event that for a person the law on the statute of limitations on credit debt was the only way out of this situation, and the court took an uncomfortable position for him, you can always count on an appeal.
It is the court that sets the limitation period, but when doing this, it takes into account all the relations of the borrower with the bank that have taken place since the conclusion of the loan agreement. Keep in mind some of the nuances. If during the term of the loan agreement the debtor appealed to the court with a request for restructuring or with another request, the implementation of which usually helps to alleviate the fate of a person who is unable to deposit funds into the account, this fact may expire. Why it happens? The fact is that, as a rule, any attempts to reach an agreement with a bank involve the addition of at least a symbolic amount to a credit account. And even if this did not happen, in court even the fact of contacting a financial organization can be perceived as the last payment, from which the countdown begins.
What does not affect the term?
It is worth noting that some actions of banks cannot affect the establishment of the date from which this period counts. Such actions, for example, include resale of debt to collectors. Despite the articles of the Civil Code mentioned above, it is not easy to determine the date when the limitation period for a loan begins. The advice of a lawyer is perhaps the right step in resolving this issue. Do not rely on the recommendations of non-professionals, following which can only aggravate the position of the debtor.
What happens when a credit limit expires ?
2015 is an economically difficult period for Russia. A few years before the start of the so-called crisis, banking organizations entered into large-scale loan agreements with their customers. Requirements for potential borrowers were low.
But the unstable economic situation in the country entailed a significant deterioration in the standard of living of most citizens. Unemployment has risen, food prices have risen. For many Russians, a monthly loan payment has become an overwhelming burden. The recent loyalty of banks to their customers has resulted in a tremendous increase in loan debt. In these conditions, many borrowers hope for the notorious statute of limitations on credit debt. After the trial, they believe, all debts will be written off, and life can be started from scratch. However, such an opinion is a gross mistake.
The expiration of a three-year period, after which the bank ceases to demand its money, says only that the debtor has a reliable argument. On it, subject to the repeated appeal of the creditor to the courts, the borrower may indicate. The expiration of the claim does not deprive the bank of the right to call and remind of obligations. But for such cases, a way of counteraction is provided for the debtor. It consists in a statement on the recall of personal data.
Debt sale
After the bank loses hope for the return of its money, life can begin for a debtor by no means simple. Many financial institutions, as you know, prefer to sell debts to collection agencies. Communicating with employees of such organizations is not a pleasant business. This is known even to those who have never concluded a loan agreement. The illegal actions of these people are often talked about on television, in newspapers and on news websites.
Collectors cannot appeal to the courts after the expiration of the claim period, and the only way for them is to put moral pressure on the debtor. A person affected by contact with such employees should immediately contact the police. If there is no reaction to the application filed on the basis of unlawful actions by the collectors, do not despair. The next step should be to contact the prosecutor.
Borrower abuse
The client of the bank that draws up the loan is responsible for this. In recent years, defaults have become significantly more frequent. This is not only the fault of borrowers, but also of banks, and even the state. However, in some cases, credit default depends entirely on the client of the bank. Such cases include personal circumstances or outright fraud. The borrower is obliged to know that if he takes a loan, and initially hopes that he will not be able to repay it, as the law on the statute of limitations may contribute, he risks administrative and even criminal liability. The minimum penalty facing the debtor is the recovery of property. But the legislation provides for more stringent measures.
Criminal liability
If a bank client takes a loan on bail, he will not face criminal liability. In case of non-payment everything goes under the hammer. Although here concessions are provided. The bank cannot seize the apartment and the debtor if it is the only real estate. The exception is cases when fraud is seen in the actions of the debtor.
It is not so difficult to determine whether the borrower was guided by bad thoughts. If, after obtaining a loan, he deliberately hides, this does not speak in his favor. Depending on the specific situation, the debtor may be sentenced to correctional labor and even imprisoned for up to three years. However, such criminal measures are applicable only if the fact of theft of bank funds has been proved.