Many times, facing a debt is impossible for a person or a company. And this can affect the decisions and strategies that have been raised within the . To prevent this from happening, debt extinction is often the solution.
It is called a waiver (or pardon) when the creditor forgives the debtor the total or partial (then it is calledremove) payment of the debt that they had agreed between them. This "forgiveness" is done without receiving anything in return, hence it is a donation that is made to the person who owes it. Although this is not always the case, since certain things are usually asked in return.
It should be noted that the amount that can be forgiven does not have a minimum, nor a maximum. Of course, the debt must be forgiven before a notary when the amount exceeds the amount of 50 minimum wage. The authorization must be made by public deed since it requires insinuation, as specified in article 1458 of the civil code, modified by decree 1712 of 1989 article 1. If the value does not exceed or is not equal to 50 times the minimum wage, no hint is required.
On the other hand, when the debt falls on a real estate, the forgiveness must be made before a notary and that said forgiveness is granted by public deed and be registered in the registry of public instruments.
Types of forgiveness
Regarding the types of forgiveness according to forgiveness, we can classify it into two:
- Sorry not unspoken. It is the one we have described so far, and in which the creditor forgives the payment of the debt to the debtor or the person who owes him money.
- Tacit forgiveness. It occurs when the creditor gives the person who owes him money the written title in which the payment obligation consists, eliminates it or cancels it with the intention of extinguishing or completely eliminating the pending debt between them.