Loan Recovery in Poland

Updated on Tuesday 07th May 2019

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Poland has become an important state of the European Union and its economy has developed quite a lot in the last few years. Thanks to this favorable outcome, Polish citizens and companies have started contracting loans for various purposes and thus the financial industry has also benefitted from many advantages.

Even if the number of those unable to sustain the loans and pay their installments on time is not large, there are cases in which loan recovery has become mandatory. Loan recovery in Poland is completed the same way as any other debt and our lawyers can advise and assist in such matters.

If you need assistance in debt collection in Poland, our lawyers are at your disposal for legal representation.
 

Legislation on contracting loans in Poland


The law related to contracting personal or commercial loans in Poland has been recently amended as a consequence of more and more individuals and companies unable to pay them. Under the new legislation, money lenders are now required to provide more information on the amount to be paid on a monthly basis, the total amount of the loan which also includes the interest, and most importantly the monthly due date.

The other law which now provides for a higher degree of protection of consumers is the Consumer Protection Act.

In case the consumer is aware of the payment date and monthly installment and still fails to pay, the case will become a loan recovery one and with the help of our debt collection lawyers in Poland the outstanding amount of money can be recovered amicably or in the court of law.
 

Amicable loan recovery procedures in Poland


There are two main ways of debt collection in Poland. The first one is the amicable procedure which can successfully apply in loan recovery cases and the legal proceedings which imply the involvement of a Polish court of justice.

Loan recovery through an amicable procedure is often employed by Polish debt collection agencies which have as a main role in collecting the debt in the fastest manner possible. Amicable loan recovery in Poland implies contacting the debtor and bringing to his/her attention the amount of money due and presenting various repayment options which can ease their situation while the representing the best interest of the creditor.

In case the amicable procedure does not work, the financial institution can ask for the help of our debt collection lawyers in Poland. We can handle both the amicable and legal proceedings in loan recovery in Poland.
 

Loan recovery through legal proceedings in Poland


There two legal ways of obtaining the repayment of debt arisen from a loan. The fastest procedure which can be completed in approximately two weeks implies filing a writ of payment with the court. The second procedure is court litigation.

The steps of debt collection in Poland, including loan recovery with a local court, implies:
 
  1. gathering all the evidence which can lead to a positive outcome and repayment of the debt;
  2. filing a petition with the Polish court for recovering the outstanding amount of money;
  3. the court will ask both parties to file the evidence which can support their claims;
  4. hearing proceedings are next, and both parties will be allowed to sustain their causes;
  5. the court will issue a verdict, however, both parties have the right to appeal it with a higher court.

It is important to know that in debt collection, including loan recovery in Poland, the pre-trial procedures through which the settlement of the debt could be done amicably are required.

No matter the situation, our debt collection lawyers in Poland can advise on loan recovery cases related to collecting money from individuals and companies.
 

Assistance in loan recovery from our debt collection lawyers in Poland


Appealing to debt collection lawyers can be a good solution when dealing with a loan recovery case in Poland. With a vast knowledge of the local and European Union laws, our attorneys can help credit institutions in recovering the money they are owed. We can assist with the following:
 
  • advising on the best method to recover a loan – our lawyers will always try to amicably recover any outstanding amount of money;
  • contacting the debtor in order to find a suitable payment method and explaining him/her what happens if the case goes to court;
  • gathering and vetting all the documents which can be used in the court of law, if the case gets there;
  • filing the initial petition for the writ of payment followed by the petition for court litigation, if necessary;
  • assistance with the enforcement of the court order, in case the loan recovery will come to such a result.

If you need assistance in debt collection in Poland, loan recovery included, do not hesitate to contact our lawyers.