Because of the bad economic cycle passed by families and companies, many of us are forced to look for alternatives. For what? So that they reduce or cancel the total debt that we have to support. A situation of defaults seems a big problem, but with the legal help indicated these bad drinks have a solution. Did you know the possible prescription of your debts?
Do you have debts with both the public administration and private entities? Do you not know the possibility of prescribing debts? Do you want to know what are the requirements to request the cancellation of your debts?
The way to start the process, is to make sure that the debts contracted exceed the time frame established by law. As stated in Article 1961 of the Civil Code “The actions prescribe by the mere lapse of time set by law.”
That is to say, the possible maneuvers to be able to cancel the outstanding debts depend on the time of prescription established by the binding legal framework. If the creditor has not claimed the amount of the debt before the prescription established by law in each case. The debt can be canceled. In Spain, in this case, to be able to cancel your debts will have to be fixed in articles 1961 and 1975 of the Civil Code.
The term of prescription of the debt may vary. It depends on the type of creditor or other factors. Here we point out a few:
The prescription of debts is not a fast process. You have to justify at the moment you claim your debts. As a result, the time established by law has been exceeded.
Find out and let experts in debt resolution help you accelerate and facilitate all procedures with justice and administration. Be advised appropriately and know your fundamental rights. These two points can save you from bad times because of debts that may already be prescribed.
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