The economic and financial impact of the “giving în payment” law

Alexandru Badiu and Oana Georgiana Nita
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Alexandru Badiu: Academia de Studii Economice, Bucuresti
Oana Georgiana Nita: Academia de Studii Economice, Bucuresti

Romanian Statistical Review Supplement, 2016, vol. 64, issue 7, 43-52

Abstract: In this article the authors analyze the 77 Law of 2016 on giving in payment real estate properties in order to extinguish loans obligations. The authors analyze the social context that led to the adoption of the law,non-performing loans with mortgage situation, oppositionand argumentation of banks, definition of the law concepts, giving in payment procedure, unresolved issues: notification, real estate property encumbered by multiple tasks actions, judicial, tax actions,the problem of giving the property, property status problem of the family; economic risk, fluctuation of securities.In the context of an increasing decentralization of banking services and the existence of a substantial social protection need, the 77/2016 Law proposes an ambitious goal: to solve the problem of individuals – captive consumers of banking services, which in need and / or ignorance were indebted too much, and cannot pay the bank rates and now are in need of a measure of social protection. Social protection measures need to nurture the individual who was not in an equal position to the closing date of the credit agreement with the other Contracting Party, meaning the bank and that does not even benefit from advice needed to realize the importance and consequences of contracting the loan.

Keywords: analysis; impact; giving in payment; property; assets; loans; financial obligations (search for similar items in EconPapers)
Date: 2016
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