The prescription of bank debts is a topic that many debtors are unaware of. According to him Civil Code, debts expire after 10 years. This means that, after this period, creditors cannot judicially demand payment of the debt.
However, this prescription does not automatically imply the removal of the debt from the records of the company. Superintendency of Banking, Insurance and AFP (SBS)Below, we will explain what this prescription means and how it affects the debtor registry.
If my debt expires after 10 years, will I still be in the SBS credit center?
The Civil Code establishes that bank debts expire after the expiration of the 10 yearswhich prevents creditors from demanding payment judicially after this period. However, this prescription does not automatically erase the debt from the risk center of the SBS. Debts can continue appearing on credit records, which may affect the debtor’s credit history and ability to obtain future credit.
Can I request my withdrawal from the SBS risk center once my debt has expired?
Yes, debtors can request the debt elimination The SBS risk center has prescribed the debt. It is important that debtors carry out this procedure to ensure that their credit records correctly reflect their financial situation. Although the prescription prevents creditors from judicially demanding payment, the debt can continue to affect the credit history of the debtor until it is removed from the SBS records.
What is the SBS risk center?
The SBS Risk Center is a base data that collects information about debts and the behavior of Peruvian citizens. This information is used by financial institutions to assess the credit risk of credit applicants. The report includes details on the loans contracted, payments made and any defaults. The debt report can be consulted through the SBS online platform, using the number DNI.
This tool allows financial institutions to make informed decisions about granting credit, while citizens can verify their credit situation and manage their debts. It is essential that debtors regularly review their debt report to ensure that it accurately reflects their financial situation and take action in case of errors or frauds.
What is the SBS and what are its functions?
The Superintendency of Banking, Insurance and AFP (SBS) is a Peruvian government entity in charge of regulating, supervising and controlling the financial, insurance and Private Pension Fund Administrators (AFP)Its main function is to ensure the stability, solvency and transparency of these institutions, protecting the interests of depositors, policyholders and members. In addition, the SBS manages the credit bureau, which collects information on the credit behaviour of citizens and companies.
Source: Larepublica
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