Who is the creditor? Discover the risk of non-payment of the loan!

Have you not paid your commitments for some time? Remember that failure to repay a loan or credit may have serious consequences. Check what is the risk of non-payment of debts and what rights the creditor has.

Stubborn phone calls, a jammed e-mail box, debt collectors coming into your apartment, finally a bailiff's visit and a trial.... These may be the effects of debts, which further deepen the budgetary gap. Find out how to deal with it!

Who is the creditor?

In other words, the creditor is a chandelier, that is, a person with whom the debtor is bound by a financial obligation. Thus, if your account contains an outstanding loan (traditional or online loan), the creditor has the right to demand that you pay off the service, along with interest and other accrued costs included in the contract. It also has the right to take legal action to enforce the performance of the service. A creditor may be a loan company, a SKOK, a company or a bank where the debtor has unpaid receivables.

What rights does the creditor have?

Under Polish law, a creditor can demand repayment of the debt through various procedures. At the beginning there are reminders, letters, telephones and text messages with payment orders. What is important, however, is that the entire procedure must respect the rights and reputation of the client. What other rights does the creditor have?

• bailiff execution - a creditor may apply to the court for forced recovery of the debt, which is handled by the bailiff;
• the choice of the bailiff - the creditor can decide which bailiff will deal with the case;
• provide the judicial officer with information on the debtor's livelihood;
• order the bailiff to seek out the debtor's assets;
• choice of execution method - the creditor may decide how the bailiff is to occupy the debtor's assets (e.g. appropriation of real estate, taking over the remuneration for work or social benefits).

How to solve the debt problem?

Enforcement and court proceedings are the most extreme and final solutions. Therefore, before you fall victim to them, it is worth trying to communicate with the creditor. This will make it possible to negotiate favourable conditions for both the debtor and the financial institution. You can, for example, spread the debt over instalments or extend the repayment period. Of course, it is advisable to avoid such situations, but if you don't turn your head away from them, don't hide your head in the sand! Sooner or later the debts will get you, and the creditor only wants a mutually beneficial termination of the case.