Do you know what plays a key role in determining when a debt expires? TIME. It all depends on when the obligation was imposed on you and whether the creditor claimed his debt. There is no one specific deadline after which debt expires – it all depends on what the debt is.

Other rules apply when you do not pay a ticket for not paying a ticket, while other rules apply if you pay more for higher amounts. You will find all the details below.

What is debt aging?

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Each debt has its own expiry date – just like food or chemical products. The statute of limitations for debt is governed by the Civil Code and takes place after the specific repayment date of the liability due has elapsed.

If the creditor, i.e. the person to whom you should pay the debt, does not take specific action to enforce the funds, you can use the institution of limitation. After how many years does the limitation of receivables occur?

When does the debt expire?

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Last July 2018, an amendment to the Act took place that simplified the rules on limitation of debt. The new rules are more favorable for the debtor and not the creditor due to the reduction of the limitation period.

Until July 9, 2018, the debtor had to submit an appropriate application for remission of outstanding liabilities – if he did not do so, the court could issue a judgment, which resulted in bailiff enforcement, even in the case of expired claims.

Currently, the court decides whether or not the debt is time-barred and can dismiss the action. Then the debtor will no longer have to settle this debt, and the responsibility for it will fall on the creditor.

Limitation of debt with a bailiff.

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The general deadline for canceling debts is currently 6 years – it has been shortened from 10 years, which is good news. The bad news is that if your debtors were dealt with by a bailiff who commenced bailiff enforcement, you cannot use the option of limiting your debts.

Unfortunately, the moment of submitting the application for bailiff enforcement is tantamount to interruption of the limitation period! Only if the final execution procedure has come to a valid end, i.e. you receive from the bailiff a decision to discontinue the execution, will the calculation of a new period of invalidity begin.

Remember, however, that before a bailiff’s execution you should receive a court order for payment – only in such a situation can the bailiff begin his activities.