THE PRESCRIPTION OF THE RIGHT TO EXERCISE THE ENFORCEMENT OF THE ASSIGNED BANKING DEBTS
THE PRESCRIPTION OF THE RIGHT TO EXERCISE THE ENFORCEMENT OF THE ASSIGNED BANKING DEBTS

Summary/Abstract: As a result of the new economic realities, many of the people who have approached banking institutions in order to obtain loans have been unable to pay the instalments according to the reimbursement schedules. In most cases, the banking institutions started the mechanism provided in the contract for declaring the expected maturity of unpaid instalments, and then assigned non-performing loans to debt recovery companies. Given the fact that in some cases the last payments were made in 2009 (at the time of the economic crisis), the non-performing debts being assigned as early as 2010, the issue of the lawfulness of enforcement initiated by debt recovery companies after the year 2013 by reference to the extinctive prescription of the right to demand enforcement. Thus, it is necessary to examine some aspects of this issue, such as the moment when the limitation period begins to run, the causes of suspension and interruption, the effects of the term and the ways in which the courts can analyse this issue.

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