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expiration of Loan / Debt

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1 expiration of Loan / Debt on Fri Mar 06, 2015 9:00 am


Arresto Menor
May expiration po ba ang unpaid debt? If yes, how many years po ba ang expiration of debt in the Philippines? As far as I know, after 7 years na hindi nabayarang ang utang sa isang company, they write off the debt and considered a loss (bad debt) and will no longer chase the creditor. Does it apply din ba sa legal terms sa Pinas?

Ginamit naming collateral ung titulo ng lupa sa isang loan sa isang kumpanya kung saan di n namin nabayaran ung utang. After 10 years, hindi finorclosed ng kumpanya ung lupa na ginamit nmin n collateral. Nung balak n nming bayaran ung utang after so many years, walang record ung kumpanya at sabi nila bka nasama sa sunog sa kanilang opisina. Dahil dito hindi na rin nmin tinuloy ung pagbabayad ng utang dahil wla na rin ung record ng kumpanya sa titulo nmin. Ngunit as of now may annotation pa rin sa title dahil sa pag kakagamit sa kanya as collateral. Kami pa rin po ba ang may ari ng lupa ngayon? Ibig bang sabihin expired na ung utang namin sa kumpanya at di n need bayaran? Gaano katagal ang expiration ng loan sa Pinas in general? What action could we take regarding the land title?  Salamat in advance for any advice. study

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