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The figure of the eternal debtor will not disappear despite the legal modifications. Such a forecast was made on “This Morning” on bTV by Sofia District Court Judge Andrey Georgiev. According to him, there is a general prohibition of retroactive effects of the law or some rights that have been acquired cannot be revoked due to a recently introduced condition.
According to him, regulatory changes can be challenged before the Constitutional Court. He gave an example of the limitation period of the license.
“After 2010, the permission already acquired: the Constitutional Court said that the right to leave, as well as the right to claim, is constitutionally guaranteed,” Georgiev said, adding that the texts of the absolute statute of limitation of 10 years apply only to contracts.
He explained that in the event of a breach of a contract, it can be canceled, but the amounts paid under it are not within the scope of 10 years. The magistrate clarified that in the case of a mortgage loan, if it is not amortized in 10 years, it disappears.
“The bank can decide to do nothing, accumulate fees or collect them in parts. Or cancel the contract losing the contractual interest, waiting at least in time to collect this money. There is no explicit exception to the principle that the statute of limitations does not apply ex officio by the court: if a lawsuit is filed, the debtor must object, “the magistrate explained.
Judge Georgiev added that lawyers for credit companies easily circumvent the amendments to the statute of limitations. It will be more difficult only for individuals, giving the example of cases of property division.
“These are monetary claims. You have built something in a hereditary property with your relatives. If this property does not pass into your hands during the division, respectively, you are owed money for the improvement; it is a monetary claim and is not included in the exceptions specified by the legislator. If you don’t collect them in 10 years, you lose this money, “he said.
The judge added that the Personal Bankruptcy Law better regulates the legal framework for perpetual debtor. He added that in this case it is monitored whether the debtor is in good faith: if the assets are hidden, the possibility of debt relief is lost.
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