Applying for a loan or credit has become quite simple. Even for certain amounts, so much documentation is no longer required. But the credit has assumed an obligation, which is none other than to pay the different bills or installments. Unfortunately, some people stop paying the bills and financial institutions put in place a mechanism to claim the amount owed. This process is called payment of payment, which is a process that is often unknown. In today's post we are going to see in a simplified way what a monetary process for non-payment is.
The order for payment process for non-payment
Normally, when a bank or financial entity has problems with some charges, the usual thing is to contact the client and ask for some kind of explanation. The aim is to establish communication and check whether there is a willingness to pay. If there is no such communication or the debtor refuses to pay, a legal claim called an order for payment procedure is initiated . This is considered one of the fastest and most effective forms of debt collection. It is included in the Civil Procedure Law 1/2000 and normally has a high success rate. In fact, it is the most widely used judicial procedure in the civil sphere.
The payment order process has several advantages for those who claim the money. First of all, you only need to prove that there is a debt. For this, the financial institution will suffice with the receipts issued or the signing of the loan contract. Nor is the presence of a solicitor or lawyer necessary to present the initial application, although if the debtor objects or does not pay, it will be necessary. The debtor is twenty days before the three possible exits in the case of facing an order payment:
- Pay what is owed.
- File opposition to the claim.
- Failure to pay, disobeying the demand.
If the defendant disobeys, then the executive route is opened. What does it consist of? Well, the procedures to seize the assets can be started. Also without a solicitor or lawyer, as long as the value of the debt does not exceed 2000 euros.
The trial for payment procedure arrives
The act of payment for payment is normally quick, since in it what is intended is the collection of the debt. They are not usually overly complex trials, although each case may be different. If you find yourself in a case of order for payment as a debtor, you have to go yes or yes to the summons. If you don't, the claim will be upheld and you will be sentenced for non-payment of what you owe.
Once convicted, the work of the legal professionals of the party that claims the debt , is to find some way to collect. From money in bank accounts, a payroll or assets, such as a car, a business premises or land.
Therefore, it is always advisable to have a good financial head and not to get into debt. In case of payment problems, the most sensible thing to do is go to your financial institution and try to find a suitable solution that satisfies everyone. It is always possible to find a friendly way before you stop paying. Remember to always look for the best type of loan for your needs, you can save a lot of money in interest if you know how to choose well.