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[Monseratto]

Lender has 10 years to collect debt
July 2, 2015 10:11 pm
by PERSIDA ACOSTA



Dear PAO,

I extended a loan to my neighbor to be paid within a year. This is evidenced by a written agreement between the two of us. Before the one year period ended, I went abroad and returned after three years. Until when can I collect from my neighbor who failed to pay me within the period agreed upon?

Henry

Dear Henry,

Your question hinges on the prescriptive period of your right to demand payment from your debtor. The New Civil Code of the Philippines gives light to this, to wit:

“Art. 1144. The following actions must be brought within 10 years from the time the right of action accrues:

(1) Upon a written contract;
(2) Upon an obligation created by law;
(3) Upon a judgment.”

Your right to demand the payment of the loan which you extended to your neighbor as evidenced by a written agreement
commenced from the time he defaulted in his obligation to pay you. Since he failed to pay you within the one-year period as agreed upon, your right to demand the same started immediately after the said one year period expired.

According to the above law, you have 10 years within which to collect the loan from your neighbor, to be reckoned with, from the time he defaulted. After the lapse of the said period, you can no longer compel your neighbor to pay you, as the obligation to pay has been reduced to moral or natural obligation, which cannot be enforced by the court but may be voluntarily fulfilled by the obligor (Article 1423, New Civil Code of the Philippines).

At any rate, the running of the prescriptive period is interrupted or halted when a case is filed in court, when a written extrajudicial demand is made by the creditor to the debtor or when there is any written acknowledgment of the debt by the debtor (Article 1155, New Civil Code of the Philippines).

Again, we find it necessary to mention that this opinion is solely based on the facts you have narrated and our appreciation of the same. The opinion may vary when the facts are changed or elaborated.

We hope that we were able to guide you with our opinion on the matter.

Lender has 10 years to collect debt - The Manila Times OnlineThe Manila Times Online

[1D4LV]

yes, its called as prescription period..... 10 years.....

however you cannot really force someone to pay you, if he can't really pay..... debt is not punishable by imprisonment, but you can acquire certain properties not exempted by the Civil Code.

kaya ang turo din sa amin sa church, only lend someone something that you think you can afford to lose.

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yes, its called as prescription period..... 10 years.....

however you cannot really force someone to pay you, if he can't really pay..... debt is not punishable by imprisonment, but you can acquire certain properties not exempted by the Civil Code.

kaya ang turo din sa amin sa church, only lend someone something that you think you can afford to lose.

[CLAVEL3699]

Kaya pala ang Credit Card hanggang 10yrs lang pwede maningil hehehehe

[shadow]

Kaya pala ang Credit Card hanggang 10yrs lang pwede maningil hehehehe

Tagal din yan ah.

[_Cathy_]

Pwede ka pala umutang at umutang tapos mawala sa bansa for 10 years. Pag balik wala ng magagawa.

[glenn manikis]

Pwede ka pala umutang at umutang tapos mawala sa bansa for 10 years. Pag balik wala ng magagawa.

Kahit Wala ka Sa pinas Pwede ka pa din kasuhan... Your subpoena or summons will be course thru the embassy... And published Lang sa newspaper ang complaint sayo.. Considered valid service or served summons na yun... Pag balik mo after 10years... May warrAnt ka na, or may writ of execution na assets...

[1D4LV]

Kahit Wala ka Sa pinas Pwede ka pa din kasuhan... Your subpoena or summons will be course thru the embassy... And published Lang sa newspaper ang complaint sayo.. Considered valid service or served summons na yun... Pag balik mo after 10years... May warrAnt ka na, or may writ of execution na assets...

nope.... civil cases for sum of money do not come with a warrant..... nagkakaroon lang ng warrant kung may BP22 or estafa cases.

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Kahit Wala ka Sa pinas Pwede ka pa din kasuhan... Your subpoena or summons will be course thru the embassy... And published Lang sa newspaper ang complaint sayo.. Considered valid service or served summons na yun... Pag balik mo after 10years... May warrAnt ka na, or may writ of execution na assets...

nope.... civil cases for sum of money do not come with a warrant..... nagkakaroon lang ng warrant kung may BP22 or estafa cases.

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kung sakali magka amnesia or masiraan ng ulo yung may utang, valid pa ba yun?

you have to prove in court na talagang may amnesia o may sira ka na.

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kung sakali magka amnesia or masiraan ng ulo yung may utang, valid pa ba yun?

you have to prove in court na talagang may amnesia o may sira ka na.

[99moves]

you have to prove in court na talagang may amnesia o may sira ka na.

what if proven, sir? hindi na ba macompensate yung nagpautang? or pwede mag hakot ng assets?

[JJ All Day]

Para sa mga credit cardholders na kinukulit ng mga collection agents..

[1D4LV]

what if proven, sir? hindi na ba macompensate yung nagpautang? or pwede mag hakot ng assets?

yung estate ang pwedeng kunin, what is allowed and not exempted by law.

[glenn manikis]

nope.... civil cases for sum of money do not come with a warrant..... nagkakaroon lang ng warrant kung may BP22 or estafa cases.

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nope.... civil cases for sum of money do not come with a warrant..... nagkakaroon lang ng warrant kung may BP22 or estafa cases.

- - - - - - - - - - - - - - - - - - - - - -



you have to prove in court na talagang may amnesia o may sira ka na.

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you have to prove in court na talagang may amnesia o may sira ka na.

yes sir i know.. civil cases wala talagang warrant... kaya nga or ang nakalagay.... pwede kasing criminal or civil in nature ang file na case...kaya nga MAY writ or warrant.. depende syempre sa file mong case...

ang tanong naman paano kung may amnesia o may sira... PRESUMTION NATIN dito at ayun kasi ang tanong..may sira or amnesia na... syempre prove mo muna sa court...

[glenn manikis]

It only means Lang you have 10 years to file your complaint... After ten years... Nag prescribed na...

[99moves]

kung sakali magka amnesia or masiraan ng ulo yung may utang, valid pa ba yun?

[glenn manikis]

............................

[shadow]

kung sakali magka amnesia or masiraan ng ulo yung may utang, valid pa ba yun?

Amnesia na eh di wala na.

[JJ All Day]

Heto pa:

Credit Card Debt Collection Practices Considered Unfair Under BSP Regulations

Do you know that there are existing regulations that are meant to provide for credit card debt collection methods that are reasonable and legally permissible?

Do you know that credit card issuers and their collection agents should observe good faith and refrain from engaging in unscrupulous or untoward acts, to the extent of harassing and humiliating
the credit card holder?

For the information of the public, existing Bangko Sentral ng Pilipinas regulations prohibit credit card issuers and their collection agents from engaging in the following instances of unfair collection practices:

• The use or threat of violence or other criminal means to harm the physical person, reputation, or property of any person;

• The use of obscenities, insults, or profane language which amount to a criminal act or offense under applicable laws;

• Disclosure of the names of credit cardholders who allegedly refuse to pay debts;

• Threat to take any action that cannot legally be taken;

• Communicating or threat to communicate to any person credit information which is known to be false, including failure to communicate that a debt is being disputed;

• Any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a cardholder; and

• Making contact at unreasonable/inconvenient times or hours which shall be defined as contact before 6:00 A.M. or after 10:00 P.M., unless the account is past due for more than sixty (60) days or the cardholder has given express permission or said times are the only reasonable or convenient opportunities for contact.

[nel@carol1994]

kung sakali magka amnesia or masiraan ng ulo yung may utang, valid pa ba yun?

daming ganyan sir after maka utang amnesia ang common na sakit