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The Warsaw Voice » Law » November 14, 2017
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Debt collecting law to be changed
November 14, 2017   
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Piotr Krupa
Polish debt collectors are preparing for a significant legal change that will affect their business, namely shortening to 6 from 10 years the period after which a given liability expires, Rzeczpospolita daily writes citing sector representatives.
Listed debt collector Kruk is already taking the planned changes into account while pricing and purchasing new portfolios, CEO Piotr Krupa assured.
Another change under preparation assumes that once a given liability expires, debt collector will no longer be able to take the case to court. Currently some of them do it, taking advantage of clients’ unawareness. Kruk expects that this change will help better regulate the market, the CEO said.
Key market players have been preparing for the changes for some time so one can assume that their balance sheets are more or less prepared for it, Ipopema analyst Lukasz Janczak said, as quoted by the daily.
The change is currently being prepared by the justice ministry.
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