Pursuant to the provisions “subject to exceptions provided for in the Act, property claims are barred.”, And the limitation period means that “after the limitation period has elapsed, the one against whom the claim is entitled may evade its satisfaction”. So in a nutshell, the limitation period is described in art. 117 of the Civil Code.
Cash loan from the Bank
What does this mean for Sean Cole? It means that if it has some debt from years ago, for example. in 1999 he took out a cash loan from the Bank. The loan amount was USD 1,500, he repaid USD 1,400.00, after which, for example, his financial situation deteriorated – he lost his job, had an accident, someone in the family got sick – generally it “happens”. He is left with a debt of USD 100. Mr. Cole goes abroad to his son and lives there for several years.
Nobody speaks, because such amount for the Bank, which borrows hundreds of thousands, is not worth the effort and increasing costs. However, the bank cleans up its finances in 2009 and sells Jan’s debt to a debt collection company – together with 1861 “debts”, and since it no longer stores documents after so many years, it sells full debt, i.e. USD 1,500.00. When selling a debt, the bank creates a statement of debts and encloses it to the sales contract in the form of a register / statement.
Such a register looks like this – part of the agreement between GetinBak and KRUK from 2014
As you can see, no one bothers with details, they just sell “uncomfortable debts” that would spoil the “bars” at the Bank, and the Bank does not want it.
A debt collection company suddenly in 2015 sends a call to Mr. Cole – who returned from abroad, in letters he is called a “debtor” because in a face-to-face conversation and a telephone conversation various epithets fall in his direction. It should be noted that “debt collectors” do not sin with personal culture.
“Debt collector” demands payment of the debt – IMMEDIATELY. By debt, it means the main amount of USD 1,500.00, plus interest calculated from January 1, 1999 to November 17, 2015 in the total amount of USD 3,764.34, plus court costs, i.e. USD 1,200, and a court fee of USD 250.
That is a total of 6,727,54 USD. Believe me reader, no one cares at the debt collection company that Mr. Cole has repaid most of the amount, and that there is no proof of payment anymore, that he is sick, that he has nothing to live for. He gets letters in which he is informed about the “field visit” of the debt collector, that the bailiff is already getting dressed and will be there and that Mr Jan should sell his kidney or flat and move somewhere else.
It turns out that the debt collectors are wizards – they made USD 100 from almost USD 7,000, which means that they have multiplied their capital in 15 years.
Fortunately, Mr. Cole does not sign any settlement, does not pay anything, does not enter into a discussion with the Debt Collection Company. In the end, the case goes to court, then Mr. Cole raises his charge and the case ends like this:
Debt pays off
Someone will say “debt pays off” and we will agree with this statement but we will add “he takes care of debt”. How can you demand from the debtor to pay a debt that the creditor did not care about. If someone does not care about their rights, they simply lose them. Nobody leaves their property – a car, wallet, laptop, etc. – to their fate.
Each of us had or has in our lives someone who owes him money. Do you have an idea of how you could get that money back? It is normal to try to recover money voluntarily, and if this method proves to be ineffective, then in the next step you refer the case to the Court.
The question arises: why do banks so rarely collect their past due debts and sell them to debt collection companies? The answer is very simple – the latter have no moral brakes against intimidating people. Debt collection companies buy debts, even non-existent, expired, uncertain, etc., if only to have a few sheets of paper – invoices, creditors’ statements, etc., and be able to force ordinary people to pay, ‘because debts are paid off’. Sometimes when listening / reading such statements I wonder where such people work? At a bank, debt collection or loan company, Law Firm, Law Firm or maybe they are connected with an e-Court. The latter is the final facilitation of the whole procedure, because no one will say that the Court is able to correctly recognize almost 6,000 cases a day, and prepares the path for “mass plaintiff”
It is worth noting that limitation as an institution of law is not something new, it has existed for years. I do not mean PRL, it may surprise some, but the ancient Romans already had more in mind than some people living today. The Romans could have invoked the statute of limitations, which was to ensure certainty in business transactions, to discipline citizens to watch over their affairs, and this was not socially condemned in any way. The legitimacy of limitation in business transactions is evidenced by the fact that it has survived so many years and is now widely used in many countries, not only in Poland.
Since Banks, debt collection and loan companies … … and even Ancient Romans 😉 had their rights and used them, why can’t Mr. Cole or Nowak have them and can not use them?
Debt collection company
Our next article will describe how to prove to a debt collection company that you also have your rights … the right to home peace, peace of life, and peace of work. We will discuss the Law of the Stalked Debtor soon.
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