It is common that when we have an unpaid debt. The bank sells it to a collection company or vulture funds. These companies are dedicated. To buying these debts for very small amounts (on average between 10 and 20% of the amount owed), then obtaining a great return if they manage to recover all or part of the debt. This is a legal practice, since it simply supposes the change of the creditor, and according to our civil code the debtor will be forced to pay the debt to the new owner of the same. However, the debtor will also have the right to purchase the debt in question for the price that the new creditor paid for it. This is known as the right of withdrawal, and its exercise must meet a series of requirements and formalities for it to take legal effect.
We explain them below
Deadlines in the first place, article 1535 of the civil code establishes a period of 9 days to be able to exercise the right of withdrawal. This implies an expiration Andorra Email List period , that is, it cannot be paralyzed and is computed in calendar days (saturdays, sundays and holidays included). The fact that said term is not susceptible to stoppage or interruption, will force the filing of the corresponding claim within that term, together with the consignment of the corresponding amounts. As we can see, this is a very short term, so acting quickly is crucial. For this, you will need a lawyer specialized in the matter, since the slightest error in the process will cause it to have no effect.
The moment of start
The term as we said, civil code gives a period of 9 days to. Be able to exercise the right of withdrawal. But from when should we count these days. In itself, we must calculate this term from the time. We are aware of the transfer of the credit and the concurrence. Of a new creditor other EG Lists than the previous one. Thus, in a mortgage loan the term will. Begin from the time the new creditor registers his right in the property. Registry or from the time he notifies us reliably. In personal credits, this moment will count from when. We are notified of the change of creditor in a reliable manner. If there is a declarative judicial proceeding. Rather than an executive one, this period will count from the date the defendant is notified.
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