HOW TO BE FREE FROM A DEBT, AFTER EXPIRY OF A DEFINED PERIOD OF TIME


TERMINATION BY YOUNG PEOPLE HOW TO BE FREE FROM A DEBT AFTER THE EXPIRY OF A DEFINED PERIOD OF TIME
 
HOW TO BE FREE FROM A DEBT, AFTER EXPIRY OF A DEFINED PERIOD OF TIME
 
Any person who has made a pecuniary obligation or an obligation to perform a certain act of transferring the ownership of a property to movable property and others may discharge that obligation without performing it and without indemnity in the case of expired limitation period. In these cases, the possibility of an obligation to cease to bind you is related:
 
with the expiration of a period of time during which your creditor has failed and has not sought to fulfill your obligation
and with your explicit statement that your debt is time-barred.
In most cases, your debt is extinguished for a period of five years from the date on which you should have fulfilled your obligation. In cases where you owe the periodic payment of some amount, for example, for electricity, heating, water, telephone, and when you owe compensation, interest, penalties, the debt is extinguished by the expiration of three years from the due date.
 
It is important to know that if a case is brought against you, the judge will not of its own motion dismiss the claim against you upon expiration of the prescription period, but you must explicitly declare that you are not owed due to the expiration of the limitation period.
 
The three, respectively the five-year limitation period shall be suspended or interrupted in certain cases provided for by the law. Suspension of the limitation period means that it does not run during the period when legal circumstances are in place while a lawsuit runs between parents and children, and so on. Suspension is equivalent to the extension of the limitation period to the period of time during which these circumstances are present. Interruption of the limitation period amounts to the commencement of a new three or five year limitation period as from the occurrence of certain factors mentioned in the law - an enforced judicial decision that has begun an enforcement case or in case you have recognized the debt. Recognition of the obligation occurs not only when you make an explicit statement to the creditor that you owe but also when you take action to infer that you have acknowledged your obligation. A typical example of recognizing an obligation is the payment of an account for heating, water, telephone. The case is different when you pay for your electricity bill. In these cases, the court takes into account the fact that your electricity bill has been paid because your power supply can be discontinued or has already been suspended and assumes that there is no voluntary acknowledgment of the obligation.
 
Keep in mind that, once a decision has come into force against you, the new prescription period is five years, although she was five or three years old before her interruption.
 
At the time of suspension of the limitation period, interest is always charged for delays in cases where the obligation is monetary, and in practice very often the principal is less than the amount of the lenited interest.


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HOW TO BE FREE FROM A DEBT, AFTER EXPIRY OF A DEFINED PERIOD OF TIME HOW TO BE FREE FROM A DEBT, AFTER EXPIRY OF A DEFINED PERIOD OF TIME