In addition to the conditions below, under Constitutional Court Decision no. 623/2016 the court also checks for hardship (an exceptional change of circumstances that makes the contract excessively onerous).
- first, the borrower must be an individual (consumer);
- the loan amount must not have exceeded €250,000;
- the loan must be secured by a mortgage and have been taken to build, fit out or buy a home;
- the consumer must not have been convicted of offences connected with the loan.
If the loan was secured by several properties, all of them will be transferred to the bank. Note: all the conditions must be met together.
How we help
- We check the documents
- We analyse the documents
- We draft the giving-in-payment notice
- We send the notice to the bank
- We represent you before the notary
- We review the giving-in-payment agreement
- We negotiate the agreement
- We represent you in court if needed
Checking the conditions in practice
- Date and amount: the loan amount is assessed as at the date of the agreement, so the contract and its amendments are the first documents to check.
- Purpose and security: the loan must be a mortgage loan taken to build, fit out or buy a home; a loan for another purpose, or without a mortgage, falls outside the law.
- Hardship (impreviziune): following Constitutional Court Decision no. 623/2016, the court also verifies that the conditions of hardship are met, so a loan that meets the statutory conditions may still be assessed individually.
- Co-borrowers and guarantors: they may benefit too, which is why the loan file as a whole should be reviewed.
What follows: the steps are explained on the page on the giving-in-payment procedure, and the overview is on the page on giving in payment under Law 77/2016. For wider banking disputes see banking and finance law. Fees are agreed before work starts (see Fees); book a consultation.
Page updated . The information on this website is general and is not legal advice on any specific matter.