Compliant with the law, more precisely the Civil Code, there is a statute of limitations for debts. Then the debt does not have to be paid back, although it does not disappear completely. When does the debt expire and what are the consequences?
Expiration of debt means that the debtor has no obligation to repay the obligation, unless he himself renounces this right. This does not mean that the debt expires and ceases to apply. To find out how much we have to wait for the debt to run out, we need to check the provisions of the Civil Code.
At the same time, it is worth pointing out that the period of limitation of debts has varied periods depending on what kind of debts we are dealing with. They range from 1 year to even 10 years. Below we present selected limitation periods for various types of debts.
Deadlines for various debts:
• credit card debt – after 3 years
• debt under the third party liability insurance contract – after 3 years, but no later than 10 years after the discovery of the damage caused
• debt resulting from the employment contract – after 3 years
• debt resulting from the contract of carriage, for example unpaid mandate for driving without a ticket) – after 1 year
• debt resulting from an unpaid loan or loan – after 3 years, counting from the moment when the obligation to repay the loan or loan arose
• debt resulting from civil law contracts – after 2 years from the moment of executing the order or work
• debt due to unpaid penalty fines – after 3 years
• debt under the insurance contract – after 3 years
• long inheritance – after 10 years
• unpaid income tax – after 5 years from the end of the calendar year in which the tax payment deadline has expired
• unpaid property tax – after 3 years from the end of the calendar year in which the tax obligation arose
• ZUS contributions – 5 each (created after 2012) or 10 years (created before 2012)
• rent debt – after 3 years
• claims confirmed by a valid court judgment – after 10 years
Can you recover your expired debt?
As we have already mentioned, the provisions indicate that the statute of limitations leads to the expiration of the monetary liability in question. Therefore, the debtor is no longer required to pay, and the creditor can not effectively demand payment of the amount due.
In order to protect themselves against the expiration of debt, creditors often interrupt the limitation period. This means that the above dates start running again, and the current period of limitation is deleted. Therefore, even when the next day is to be time-barred, the creditor may lead to its blockage and the entire period will be counted anew. For a loan and a loan, this is a 3-year period.
The debt expires when:
• he / she goes to court, for example to file a petition
• the debt is recognized by the debtor
• mediation begins
Therefore, if the debtor considers a debt, for example during a telephone conversation, confirms that he has debts, or agrees to mediate with a mediator, it can not be time-barred in the existing period.