Waivers – after what time the bailiff?
Timers are quick loans granted by private companies, usually for a period of 7.14 or 30 days. They are not required to receive them, just the ID card and the signature on the contract. However, taking out a loan involves the necessity to repay it within the deadline specified in the contract. Problems begin when there is no money to settle the obligation. What are the consequences of not paying the payday and after what time the case is referred to the bailiff?
Easy access to additional cash means that many people treat payday as a way to quickly fulfill their shopping whims. What are the borrowed money usually spent on? Women buy furniture and other interior accessories as well as branded handbags and men, smartphones or motorcycles, as well as equipment for them. According to a report from the National Debt Register from 2017, Poles are eager to use extended offers of non-bank companies, and their average indebtedness varies depending on the province and ranges from PLN 3800 to PLN 4700.
Debt collection by the department of the loan company
All steps that will be taken by the loan company in the event of non-payment of the liability should be specified in the contract. To be aware of them, read the document before signing it. All doubts and unclear issues should be immediately explained to the company representative. The debtor who is in arrears with the repayment of the drawn-out payday should expect a fairly quick response from the lender. The company’s debt collection department will contact him to determine the delay in repayment and when the liability will be settled. In the absence of telephone contact with the debtor, the debt recovery department will return by letter with a request for repayment of the outstanding funds. In most loan agreements, the debt collection is payable and the debtor is charged to it. Telephone, SMS and letter reminders are called “Monitem” and each lender has a price list of such service, which adds to the client’s debt. It is worth remembering that after exceeding the repayment date, interest for each day of delay is added to the loan amount. Therefore, the sum to be refunded may differ significantly from the initial value of the liability specified in the loan agreement.
Debt service in a debt collection company
If the internal debt collection department has difficulty contacting the borrower or motivating him to pay the debt through telephones and letters, the matter is directed to a professional debt collection company. This can happen even a few weeks after receiving the first prompt – reminders about repayment. The debt collector works quickly. He contacts the client – debtor by phone, visits him at home or at work. He is firm in his actions, but in many cases he tries to help the borrower by analyzing his financial situation and proposing various solutions, for example, spreading the repayment of the obligation into convenient installments . Most often, however, debtors are afraid of the debt collector and avoid contact with him: they do not answer phones, they change their place of residence for some time.
Fear of consequences and shame associated with financial problems are, in many cases, sufficient motivation to settle the obligation. At this stage some of the debtors decide to take another loan to pay off the previous one. In this way, they try to gain the time necessary to collect the necessary funds to settle the debt. Such an action may lead to falling into a spiral of debt. Each subsequent loan will be larger, because the basic amount will include the fee for its granting, interest on interest and interest on arrears. This is not the best way to improve your financial situation. What happens if the debtor does not pay the obligation and does not respond to the calls of a professional debt collection company?
Submission of the case to the bailiff
In the event of problems with the recovery of the money, the loan company may refer the case to court. For the lender, such a solution is a last resort. However, companies willingly use it when other methods taken to recover funds fail. From the moment of issuing the order for payment, the bailiff becomes the person responsible for debt recovery. Therefore, it can take various actions: requisition the debtor’s property – for example, household appliances and audio / video devices or take up its remuneration, real estate or bank accounts. Referral to the court is final, but it is a guarantee for the non-bank company that the money will be recovered.
It can therefore be assumed that the bailiff is appointed to enforce the indebtedness within 2 to 5 months from the date of repayment. However, this process does not have a specific time frame and in some cases may take much longer.
It is very easy to receive fast cash : just use the offer of one of many loan companies . Money will go to your wallet almost immediately and serve – as statistics show – to fulfill your dreams. Problems begin when there is no money to pay off. Loan companies most often carry out debt collection in several stages. At the beginning attempts are made to establish contact with the debtor. If it is not possible to reach an agreement, the matter may be referred to the court even after a few months. The bailiff, by implementing the order of the court order, quickly and effectively recovers the debt. To avoid unpleasant consequences, it is good to keep common sense when making commitments and remember that borrowed funds will have to be returned anyway.