Although the loan contracts are executory
titles, the procedures of taking into possession the debtors’ goods are long
and costly. In order to speed up the recovery procedures some amendments to the
respective legal framework (Law no. 99/1999 and Civil Code) should be brought.
Impact Drivers
Public: Consumers and state budget could benefit from
the decrease in banks’ losses.
Private: By improving the regulatory framework for debt
recovery, banks’ costs would diminish.
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