Bank debts can prescribe in Peru, but they must spend these years to take effect, according to the Civil Code

The PRESCRIPTION OF DEBT IN PERU It is presented as a useful mechanism for a large number of debtors, since it gives them certainty about their rights and gives them peace of mind when establishing the moment in which a tax obligation ceases to be enforceable due to various non -compliance factors.

This process sets a temporary limit that allows debtors to evaluate their financial situation and make decisions based on it. Next, we tell you the deadlines for the prescription of debts, the implications that arise once this period has concluded and the types of goods that can be susceptible to embargo.

How many years should the bank debts prescribe in Peru?

In Peru, the Civil code It establishes that a bank debt prescribes after ten years. This period is of the utmost importance, since once elapsed, the creditor loses the right to demand payment through legal actions. Consequently, the debtor may not be sued in court For that specific obligation.

Prescription of debts in Peru: What happens after 10 years?

Once the ten years have passed without the creditor initiating a judicial process, the debtor can demand the prescription of the debt before a court. If this request is accepted, the debt will be legally extinguished, which releases the debtor from the payment obligation. However, despite the extinction of the debt, it will remain in force in the Debtor’s credit historywhich can affect your financial qualification for several more years. It is important to keep in mind that the prescription of the debt is a right that attends the debtor after a certain period of inactivity by the creditor.

Can banks seize salary to workers?

The current legislation establishes that three entities have the authorization to retain a part of the workers’ salary income. First, the National Superintendence of Tax Administration (SUNAT) may require the deduction of a percentage of the salary in cases of tax debts or pending administrative fines. This entity has the power to instruct employers to retain up to 30% of the salary until the debt is completely resulted. Secondly, pension fund managers (AFP) have the ability to manage debts related to the pension system.

This process requires a judicial resolution that specifies the amounts to be retained and other relevant aspects of the case. Finally, financial institutions, such as banks, can make embargoes on wages in case of non -compliance with financial obligations, such as loan payments or credit cards. However, this type of embargo only applies when the worker’s monthly salary exceeds S/2,575, equivalent to 5 procedural reference units (URP).