When is a debt prosecuted?
Failure to honor your payment commitment, acquired upon requesting a credit, may give rise to legal proceedings against you. Therefore, the continuation I explain to you when judicializing a debt, and the implications that derive from this action.
What is the judicialization of a debt?
The termination of a lawsuit applies to indicate the commencement and progress of a court action, originated by the default of any payment commitment. This action has as purpose the recovery of the capital, through the embargo measure, by some of the assets that are the property of the debtor.
Generally the claims that are judicialized are those that are collateralized with some real estate, such as mortgage loans, we have secured mortgage and vehicle credits. Other chunks of little ladies are not judicialized, and the cost of the judiciary is better than that.
When is a debt judicialized?
Often, a debt is judicialized only when previously the conciliation mechanisms, which include new payment facilities, have been put in place. And that the financial institutions have to avoid the judicialization of the debts, implementing them as a last resort.
Technically, a lawsuit is judicialized at any time when the institution that provided the pre-trial comes to the court to demand its counterparty for default. From this moment on the beginning of the judicial process that will determine whether or not such a breach would occur, the guarantee of the guarantee must be settled.
Keep in mind that under no circumstances is it good to judge any of your students. However, it also means incurring legal expenses, but it may mean you are very financial, in the sense that you will be excluded from the Peruvian credit system.
Do you worry about a debt that will not be judicialized?
As you have indicated, it is likely that you will be able to pay for small sums, such as those generated by credit cards, eventually judicialize. However, it does not mean that if you fail to pay these debts, you are free from penalties.
Recalling that you always default on your payments, this will affect your credit history. And therefore, from defaulting on your payment commitments, it will be difficult for you to make it impossible to access new credits of any kind.