Hundreds of thousands of Poles are struggling with the repayment of their obligations to banks. If we borrowed – you have to give back. What will happen, however, when we are unable to do it as a result of life’s turmoil? Let’s follow the possible scenarios
As a rule, a month of slip is sufficient for a bank representative to contact us to check why we are not fulfilling the contract. Avoiding such contact will not help us. What’s more, it usually leads to the bank starting to take more drastic steps towards us. It is always worth talking with a consultant and try to set different loan repayment terms, adapted to our current capabilities.
If, however, the negotiations are too late, the bank has two options: either it will lower the amount of the loan granted or will terminate the contract. This means that within 30 days we will have to give away the funds made available to us. If, after this time, the bank still does not receive what is due to it, it can sell our debt to a debt collection company or carry out debt collection activities on its own.
Debt collection in two ways
If the bank decides to act independently, it is obliged to issue a bank enforcement title. Next, he must submit an application to the court for granting the enforcement clause to this title. After examining the application by the court and a positive decision, the enforcement title with the enforcement clause constitutes the basis for execution by the bailiff.
However, if the bank decides to use the services of a debt collection company, its representatives will contact the borrower. In the first place, they will try to find the best solution for both parties, eg they will propose to spread the debt into more convenient installments. If the borrower does not want to cooperate with them, they will apply to the court for a court order for repayment. When such an order is issued, the debtor has fourteen days (from the date of the delivery of the order) to settle his debts or raise objections.
Eye to eye with the bailiff
If the enforcement title with the enforcement clause or the court order for repayment can not be achieved, a bailiff will enter the game. In the first place, it will focus on our remuneration. According to the law, it can take up to half of our payable debt, but it can not leave us less than the national average. So if we do not earn more than the minimum wage, the bailiff can not take any of our salary. Regardless of the amount of our payment, it can take over our remaining property, e.g. a house.
Compare before you take it
As you can see, the effects of the lack of loan repayment can be really deplorable. Therefore, you should never shirk contacts with the bank and try to compromise with the first difficulties in repayment. Many dramas connected with unpaid credit would also be avoided if we compared offers in advance. Often attracted by the advertisement of an “attractive” loan, we quickly run to the bank without thinking about the fact that elsewhere the same loan can be obtained much cheaper. Therefore, before we decide to enter into a close relationship with the bank for a good few years, let’s compare loan offers in online comparison sites.