New rules for the bad loan market: greater rights for borrowers.
This law introduces strict rules for companies that buy and manage overdue loans. For debtors, this means greater protection, clear information about who the new creditor is, and a new right to request debt restructuring before enforcement action is taken.
Key points
Companies servicing "difficult" loans will need a license and will be supervised by the Polish Financial Supervision Authority (KNF).
Debtors must be clearly informed about the sale of their debt, including the new creditor's details and the amount owed.
The law mandates fair treatment of debtors, considering their financial situation, and prohibits harassment and misleading practices.
Borrowers gain the right to apply for debt restructuring (e.g., changing repayment terms) before the creditor takes legal action.
56%
VOTING RESULTS
2024-12-20
For
239
Against
190
Abstain
1
Status:
Enacted
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