What is the official ID of this bill?
The official print number for this legislation is PROJEKT USTAWY 765.
New rules for selling and servicing overdue loans and better debtor protection
The act introduces strict supervision over companies purchasing and servicing overdue loans, significantly increasing protection for debtors. Borrowers will gain the right to clear information about creditor changes, simpler complaint procedures, and a mandatory restructuring offer before debt collection begins.
Key points
Ban on harassment and pressure: Debt collection and purchasing companies must act honestly and are strictly forbidden from harassing debtors or applying unlawful pressure.
Mandatory debt information: Within 21 days of purchasing a debt, the new owner must inform the debtor free of charge and in clear language about the exact outstanding amount (split into principal and interest) and payment details.
Chance for restructuring before enforcement: If a consumer falls behind on loan payments, the lender must give them at least 14 business days to request debt restructuring (e.g., payment holidays, extending the loan term) before taking legal action.
Advance notice of contract changes: Lenders must notify consumers of proposed changes to consumer or mortgage loan agreements at least 30 days before they take effect.
Strict supervision and high fines: Credit servicing companies will be monitored by the Polish Financial Supervision Authority (KNF), which can impose fines of up to PLN 20 million for violating consumer rights.
No direct cash handling: Credit servicing companies are prohibited from directly receiving or holding cash payments from borrowers.
56%
VOTING RESULTS
2024-12-20
For
239
Against
190
Abstain
1
Status:
Became Law
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