PROBLEMS OF STANDARD REGULATION OF COLLECTING EXTRAJUDICIAL DEBTS

Abstract

Out-of-court debt collection is now a topical subject, as since the moment of Law on Extrajudicial Recovery of Debt adopted as of November 8, 2012, for nearly five years that have passed, practice and procedural features in the relationship of the creditor and debtor have already developed. Besides, after the law on out-of-court debt collection came into force, the choice between collecting debts out of court, collecting debts through court and collecting debts per standard procedure has appeared. Thus, the creditor acquired the right of choice to estimate expediency and efficiency of the processes involved in those options. The purpose of the study is to define the pecualiarirites of extrajudicial practiceas linked to legal regulation of debt collection, as well as to define the efficiency of debt compensation and find out whether the problems of debt collection have been solved with the adoption of Law on Extrajudicial Recovery of Debt.