Assignment of debt (change of a creditor). Transfer of debt from the original creditor to a third party. The assignment can concern any type of debt, provided this is not contrary to an act, provisions of an agreement or nature of an obligation.

It is a private document issued by a bank on the basis of statements compiled from the banking ledgers, which specifies the amount of debt owned to the bank by reason of defaulting on an agreement.

As understood by the civil law, a claim is a substantive right of a party to demand that another person behaves in a way determined by the claim.

A public official who conducts enforcement activities and duties related to inventory-taking. A Court Bailiff acts on the basis of the Code of Civil Procedure and the Act on court bailiffs and bailiff fees and is supervised by the president of the appropriate local district court.

Monies owed to a creditor (e.g. a bank, telecommunications company).

A debtor`s failure to meet the (pecuniary or non-pecuniary) obligation towards a creditor.

It is a procedure conducted by a Court Bailiff to enforce claims of a creditor. Debt enforcement is carried out on the basis of an enforcement order.

An entity which manages debt acquired by a securitisation fund. The permission to manage securitised debt is issued by the Polish Financial Supervision Authority.

It is a person required to satisfy a certain obligation (pecuniary or non-pecuniary) towards a creditor based on an obligation relationship (e.g. an agreement).

BIG is an organisation established by virtue of the Act of 9 April 2010 on sharing and exchange of economic data, whose tasks involve collection, storage and provision of information on entities and their debt.

Separate civil proceedings conducted electronically for pecuniary claims. The proceedings have been designed to handle straightforward matters which do not require an evidence discovery procedure.

An official act issued by a court confirming that a given writ of execution (court judgement, payment order) can be executed by force, i.e. through the actions taken by a Court Bailiff.

An instrument permitting enforcement of debt. An enforcement order is used by a Court Bailiff to initiate and conduct debt enforcement proceedings.

An additional payment that represents compensation for using a third party`s funding or a type of damages for defaulting on debt owed to a creditor based on an agreement.

It is a legal instrument which establishes a security interest in a property, based on which a creditor may seek to have their claims satisfied from the property, regardless of who holds the ownership title to the property, before any personal creditors of the property owner.

Also known as debt assignor, an entity which transferred a debt owed to them based on an agreement.

A court order issued at an in-camera sitting (held without the participation of the parties), based on the petition and evidence submitted by a petitioner. Court proceedings which lead to the issue of a payment order can be held to consider pecuniary claims or claims for substitute compensation.

A colloquial term for bankruptcy declared with respect to an individual who does not conduct business activity. The right to be declared bankrupt is reserved for persons affected by extraordinary fortuitous events, including sickness, loss of job or an accident, the occurrence of which had an adverse impact on the debtor’s financial situation and made it impossible for them to repay their debt in a timely manner.

A formal letter that initiates civil proceedings, which includes a request for a court to grant legal protection over a clearly-defined claim, which has been justified and substantiated with facts.

It is the amount of funding borrowed, still owed to the creditor, excluding any additional interest or costs.

A closed-end investment fund which uses the funds acquired from participants (investors) to purchase debt.

Data subject to special statutory protection. Sensitive data include personal data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, genetic data, biometric data processed solely to identify a human being or health-related data, data concerning a person’s sex life or sexual orientation.

A civil law agreement based on which the parties concerned make mutual concessions as part of their legal relationship.

It is an instrument of the civil law that allows a debtor to refuse to satisfy a pecuniary claim of a creditor after certain time defined by the law.

An official document which confirms the existence and scope of a creditor’s claim that can be enforced as well as the existence and scope of the legal obligation of a debtor.