Purchase of debt from individuals and legal entities. Buying property with debt

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Modern realities are hard to imagine without loans - it is believed that this is the easiest and fastest way to get what you want. That is why it often happens that borrowers, both individuals and legal entities, are unable to fulfill their financial obligations to creditors. In particularly hopeless cases, the last thing left is to sell the debt.

Buying and selling debt

The sale of debt is the same contract of sale, or a civil law transaction in the form of a donation, because this process can be both monetary and non-reimbursable. As a result of such an agreement, under the specific terms of the contract, one creditor is replaced by another. In other words, buying debt is an assignment of creditor rights.

When selling a debt, it is worth remembering that no one except the court has the right to force the debtor to fulfill his financial obligations to the creditor. However, the refusal of the credited person to repay his debt leads to the fact that, according to Art. 69 of the Federal Law No. 229, bailiffs are authorized to sell the debtor's property in order to cover itdebt obligations.

However, in some cases, bailiffs do not have enough authority to allow them to deal with the debtor so seriously. That is why the creditor has no choice but to sell the debt. Russian laws do not prohibit the sale or purchase of debt, if the existence of the latter is confirmed by the court. An agreement on the assignment of creditor rights is concluded at any time, up to the full repayment of the debt. At the same time, the consent of the debtor to such a transaction is not necessary - it is enough that the loan agreement has a clause on the transfer of the rights of the creditor.

Purchase of debt under enforcement order

You can sell debt to any third party, natural or legal, - a collection agency, an individual citizen. Before this, the creditor must take a writ of execution in court and send it to the bailiff service, as well as write a corresponding application. Based on this, the FSSP opens enforcement proceedings for exactly 7 days. Only after that it is possible to conclude an assignment agreement with collectors. Then it is necessary to transfer this agreement to the bailiff - so that the official is aware of the assignment of the rights of the creditor.

However, the bailiff may close enforcement proceedings if the debtor is hiding or his financial situation is extremely difficult. In this case, the writ of execution is returned to the recoverer back. After that, within three years, the creditor has the right both to write off the debt and to re-apply for the commencement of enforcementproduction. In this case, it is also possible to assign your rights to a collection agency.

Collection agency and buying debt

Collection agencies remain the main buyers of debts. Sellers and buyers of debts are found mainly on thematic sites on the Web. The amount of debt purchase depends on many factors - the amount of the loan, the presence of a writ of execution, the time of delay, the financial solvency of the borrower, etc.

In most cases, the lender receives from the agency no more than 35% of the loan amount (interest is not counted here). The presence of a writ of execution in a number of cases makes it possible to increase this amount up to 50%.

Purchase of personal debt

The main sellers of private debt today are banks. They put debts up for a special auction, where professional buyers, after analyzing the characteristics of the debt (the solvency of the debtor, the time of delay, the possibility of communication), decide to purchase this debt. As a rule, they plan to receive from the borrower an amount that is two or even more times the cost of their purchase.

I must say that the purchase of debts of individuals has no legal basis. Therefore, the borrower is not prohibited from interfering with this process. In practice, the debtor can even "bargain" with collectors (naturally, not all borrowers have enough patience and the necessary knowledge for this). It is authorized to pay money to the agency only upon the conclusion of the relevantagreements. It is best to sign the contract in court.

Buying and selling corporate debt

The purchase of debt obligations is regulated by art. 382-386 of the Civil Code. Buying debts of legal entities is the acquisition, in fact, of the most hopeless overdue obligations. That is why collectors acquire such debts for no more than 10-15% of the original loan amount. The Civil Code of the Russian Federation obliges acquirers to notify the debtor in writing of the assignment of the rights of the creditor. If the demands of collectors are illegal, then the borrower is en titled to refuse their cooperation.

It is often beneficial for legal debtors to buy debt - collectors in some cases ask to repay only half of it. But at the same time, it is beneficial for a certain agent to "shake" as much as possible out of the borrower, because. this is what determines the size of his commission.

Purchasing an apartment with debts

Finally, let's touch on such an unpleasant moment as buying an apartment with utility bills. We note right away that the management company does not have the right to demand their repayment from the new owner - the only exception will be contributions for overhaul (LC RF Art. 153, clause 2, clause 5). If, however, a court order has come to your name to collect the debts of the old owner, then you must write an objection to the addressing court as soon as possible, attaching copies of the sale and purchase agreement and documents on your ownership.

To protect yourself from such a situation, you must do the following before buying:

• Personally inquire about the presence of the seller's debts at the office of the HOA or UK.
• Scan the lists of debtors on the website of the Criminal Code or utilities in your city.
• Find out the necessary information from the concierge.
• Ask the seller to provide certificates that he has no utility debts.

Buying debt is a common and permitted phenomenon in our country. Today, the practice of acquiring the debt of both physical and legal borrowers. Collection agencies remain the main buyers.