Does anyone know whether or not it is true that, if you are pursuing a debtor through the Courts, you can only sue for debts 4 years old and less, no longer than 4 years ?
Thanks, Parilla
Debtors
- DavidSearl
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Re: Debtors
FROM DAVID SEARL
FOR PARILLA
No, it is not true. The four-year period refers to tax debts only. The period for personal or business debts is 15 years. If someone owes you money, either, say, for a personal loan, or in a business operation, you can initiate legal proceedings against them for the following 15 years. You can even apply for an extension of this period.
Good luck with it, David Searl
FOR PARILLA
No, it is not true. The four-year period refers to tax debts only. The period for personal or business debts is 15 years. If someone owes you money, either, say, for a personal loan, or in a business operation, you can initiate legal proceedings against them for the following 15 years. You can even apply for an extension of this period.
Good luck with it, David Searl
You and the Law in Spain
Re: Debtors
Thanks very much DS.
That's a relief, the courts are so backed up it is taking four years to get a hearing.
Parilla
That's a relief, the courts are so backed up it is taking four years to get a hearing.
Parilla
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Re: Debtors
Aaargghh!
Is it really 4 years? I've just been down the notary's to give power of attorney to go through the legal process to obtain 2 years worth of debt from one owner in our community.
I must admit the interest is piling up on the debt so it will be a nice little nest egg when we get 6 years of community fees
Is it really 4 years? I've just been down the notary's to give power of attorney to go through the legal process to obtain 2 years worth of debt from one owner in our community.
I must admit the interest is piling up on the debt so it will be a nice little nest egg when we get 6 years of community fees
Re: Debtors
However, if the bank repo the property the most you would get is two years payment.
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Re: Debtors
Eh? Why is it only 2 years if the bank repos.
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Re: Debtors
You have to keep notifying the debtor. If the debtor hears nothing for 6 years then you can no longer persue them.
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