Debt not only represents a significant financial burden, but also a considerable emotional impact. For this reason, it is crucial to understand what debt means. Civil Code Peruvian law establishes with respect to debts. A valid question in this context is whether debts are subject to a statute of limitations and, if so, in how much time this statute of limitations could occur.
In light of this, if you have any doubts, in this note we provide you with the necessary information to clarify them. Take note!
Prescription of debts in Peru: what does the civil code say?
He Civil Code Peruvian law establishes that debts expire after 10 years. The statute of limitations implies that once this period has elapsed, debts can no longer be enforced in court. It is essential to note that this period refers exclusively to the possibility of legally claiming payment and not to the visibility of the debt in the SBS records. Even after 10 years, the debt may remain registered in the SBS Risk Center. To remove the debt from these records, the debtor must submit a formal request to the SBS, a procedure that is not carried out automatically.
How long does it take for a bank debt to expire in Peru?
According to information provided by Cristian Cáceres, a lawyer who graduated from the Universidad San Martín de Porres, for La República, he clarifies that the prescription of a debt means that the creditor loses the legal right to demand the corresponding payment. Likewise, Cáceres, an expert in public management, highlights that debts contracted with entities or companies of the financial system expire after 10 years.
This means that, once that decade has passed, financial institutions no longer have the power to make judicial collections on outstanding debts. However, the specialist clarifies that the debt will not disappear from the SBS Risk Center“It is possible to request the removal of these debts from the system, but this is not done automatically,” he clarified.
SBS debt report with ID
If you want to access to see if you have any type of financial debt, the Superintendency of Banking, Insurance and AFP (SBS), has a website so you can find out.
- Enter the official website, click here.
- You must make the query through the ‘SBS Debt Report’ option.
- Then select the option with the DNIyou must make the query.
- If you do not have a user, you can create one to make other queries.
- Remember that this action can be done several times through the virtual platform.
- If you wish to opt for the report in physical form, you will have to pay for the issuance of the information.
SBS website to check the debt report. Photo: screenshot from SBS.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
