How long does a phone debt last?

Article by: Dr. Berta Simón Tercero | Last update: April 10, 2022
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Well, the first thing we have to know is that article 1966 of the Civil Code establishes that all those debts whose payments must be made for years or periodically (as would be the case of the telephone bill), prescribe after 5 years.

How long does it take to prescribe a telephone debt?

When does a telephone debt expire? The debts of supplies and telephone companies prescribe after 3 years, from here on, the companies themselves will not be able to demand payment of the same; but yes a recovery company.

How to know if a debt is prescribed?

For example, if a particular debt prescribes after 6 years, if during that period no one has recognized that debt and no one has claimed it, we can say that it is a prescribed debt.

What happens to debts that are not paid?

Consequences of not paying a debt to the bank

These interests and commissions will also accumulate on the original debt, with which the debtor will owe more and more money. As of the third non-payment, the bank will be able to present a legal claim, the result of which will depend on the type of loan contracted.

How long does it take to prescribe a Movistar debt?

Debts contracted with water, electricity, and gas supply companies, as well as telephone and telecommunications bills, prescribe after 3 years in accordance with article 1967 of the Civil Code, according to which actions to demand payments are prescribed at this time. that must be done by years or by installments…

40 related questions found

What happens if a Movistar bill is not paid?

If you pay outside this date, your line may be cut off from making calls, sending SMS or browsing. In case of isolation, you must pay in your next invoice the line rehabilitation charge and a surcharge for late payment for late payment, as dictated by the Regulation.

What happens with a debt of more than 5 years in Colombia?

After 3 years, the prescription of debts will be given. Depending on the case, when the debt exceeds 5 years, they will not be able to seize the assets legally. This is something that must be taken into account by the creditor as well as the debtor.

What happens if I am sued and cannot pay?

Once they have sued you and you do not have how to pay the debt, in the absence of payment, they can seize your assets. For this to happen, there must necessarily be a commercial trial. Otherwise, nothing can be seized.

What can be seized if you do not pay a personal loan?

In other words, the debtor will have the right, at least, to enjoy that part of his salary. The second tranche (from 655.20 to 1,310.40 euros) is 30% seizable. Of the third tranche, 50% can be seized; of the fourth, 60%; from the fifth, 75% and from the sixth onwards, 90%.

How many years does a debt last?

As stipulated in article 2562 of the Civil and Commercial Code of the Nation, a debt between consumers and users expires after two years. After this period, any legal action sought by the creditor has no effect, while there is no longer a requirement to make the payment thereof.

What happens if my debt is more than 5 years old?

They expire after three years and the executive action, five years after the expiration of the term to pay said debt, in such a way that if the debt exceeds three years, it could be prescribed and in case it is more than five years old it will be legally Impossible for them to seize their assets.

What happens if I have a debt of more than 5 years?

According to a professor at the Universidad Libre de Derecho de México, if your debt is derived from a security (check or promissory note), the indebtedness will end after three years; If more than 5 years have passed since you went into default, the bank will not be able to seize your assets or properties to collect your debt…

How many years are there to claim outstanding debt after foreclosure?

The answer to when a mortgage debt prescribes is that it disappears after 20 years from the due date. This does not mean that the debt does not exist, but rather that the creditor loses the right to demand payment of this debt. All this is collected and regulated in article 1964 of the Civil Code.

When do service debts expire?

In principle, it would be two years, except for the installments of a product or service that prescribe after 5 years. The prescription is the extinction of the action by the passage of time, that is, the creditor could claim it but that defense can be opposed.

What happens if you do not return the money of a loan?

If you do not repay a mini-credit, your debt will continue to grow due to default interest, so the cost of the financing you requested at the time will increase. In addition, you will enter ASNEF for the amount of the non-payment, so you would have problems requesting quick credits in the future.

What crime is not paying a debt?

Failure to pay becomes a criminal offense when there is “property damage”. It is characterized by the intent or fault of the person. For bank customers who have a debt, they are excluded from this, because they always sign a promissory note in which they commit, even if, later, they do not have to settle the financing.

How to force someone to pay a debt?

To forcefully collect a debt, you can file a lawsuit through which you ask the civil or small claims judge to order payment of what is owed or enforce the obligation.

When does a debt prescribe in Colombia?

Prescription of debts in Colombia.

The prescription of debts. In short, debts backed by securities such as bills of exchange, invoices and promissory notes expire in three years, and those backed by contracts such as leases expire after 5 years.

What happens if I do not pay a debt at the bank in Colombia?

The most common is a seizure of the bank account or the payroll account, but if the balance of that debt is high, the judicial decision may go through seizing the house, the car, the pension, etc. Everything you need to pay off debt.

How to request the prescription of a debt in Colombia?

If the deadlines pass, the debt does not extinguish itself. So, to achieve the debt prescription, it will be necessary to go to court with the documents that prove that the payment date has already passed and request the prescription. This is called claiming the statute of limitations.

What happens if you owe Movistar?

In the event that, once the expiration date of your Movistar debt has expired, you have not paid your Movistar bill, the company is legally empowered to cut off your service, both fixed and mobile.

How long does Movistar take to cancel a line due to non-payment?

If another month goes by and you still cannot pay said bill, that is when Movistar will cut off your line, although you will still be able to receive calls and messages. Five days before taking this measure, you will receive another email informing you of what is going to happen. If you do not pay in two months, your line will be cancelled.

How long does it take to cut Movistar Internet?

Movistar will notify the suspension of the services at least fifteen days before said suspension and in this communication the maximum date on which the connection will be cut off if payment is not made will be indicated.

When does the mortgage action prescribe?

Thus, the Civil Code establishes the following: “Art. 1963: Real actions on real estate prescribe after thirty years.” “Art. 1964: The mortgage action prescribes after twenty years, and the personal ones that do not have a special limitation period indicated after fifteen.”

How long does a mortgage loan prescribe?

Article 2918. The mortgage action will prescribe after ten years, counted from the time it can be exercised in accordance with the registered title.

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