Enforcement & bankruptcy · Legal information

How Is Interest Claimed in Enforcement?

Author · Av. Ayşenur Konar, Avukat

Published ·

In short

The question of how interest is claimed in enforcement is the showing, in the request for enforcement, of the rate agreed in the contract or of statutory default interest. The creditor writes the claim with interest, its basis, and the day running began. An item that was not written is not added to the file later of itself. There is no interest rate and no percentage in this text.

A rate that is not in the contract is not added so that it passes of itself into the cover account. If the rate is written in the contract, that text is read. If it is not written, a rate is not invented. If the starting day is not on the document, the day is not completed.

Where the rate comes from

If there is a valid contract rate, the request rests on it. If there is no rate, or it is invalid, the statutory regime applies. A commercial matter and an ordinary matter may not carry the same percentage. This separation does not require putting a fixed figure in the article. The current rate is taken from the legislation on the date of the proceeding and from the office's account. This text does not put a figure in the place of that account. If the contract shows for which period it wrote the rate, that period is read. If there is no period, a period is not invented.

In a claim in foreign currency, interest is built separately according to the currency of the debt and the contract. The day on which the foreign currency will be converted must stand in the request or in the judgment. A conversion rate is not given in this text. If the rate is not on the document, a rate is not invented. Compound interest does not run of itself in every file. The contract and the limit of the statute are read. Interest upon interest is not claimed without a basis. An invoice may show the principal. An invoice is not itself the interest rate.

Two separate lines in the request

Interest accrued up to the day of the proceeding is written apart from the principal. Interest yet to run after the date of the proceeding is also requested separately. Joining the two in a single figure blurs the item in the debtor's objection and in the cover account. The other elements of the request text sit under a request for enforcement without a judgment. In a file upon a judgment, interest is not carried outside the frame the judgment awarded. If the judgment says statutory interest, the account is built according to the regime in the judgment. If there is no interest in the judgment, a rate is not added to the sentence of the proceeding. The decision should write which item was tied to interest. While there is no decision, the item is not widened.

The petition must show accrued interest and interest yet to run on separate lines. A single line is not treated as having joined the two periods. If service carries the debtor's notice of default, the start is read with that annotation. If there is no annotation, the day of the notice is not completed. The minutes may show on which day a partial payment was entered. If there are no minutes, the day of allocation is not invented.

Payment does not erase interest

Even if the debtor deposits part of the principal by hand or into an account, the interest and the attachment do not close before the payment is entered in the file. Allocation is read in the order of costs, interest, and principal. This order sits under I paid the debt. The fee item is not interest. The fee sits under the enforcement fee. By which route the claim will be sought comes before the interest line. That decision sits under the person who owes me is not paying. The document must carry the receipt of the payment. If there is no receipt, payment is not assumed. The registry may show the debtor's identity. The registry does not write the interest rate.

The creditor should show in the request from which day to which day the accrued-interest line accumulated. If the two dates are not on the document, an interval is not invented. While there is no interval, a single amount is not treated as having carried both accrued interest and interest yet to run. If the debtor made a partial payment, the day of payment is an input of the allocation debate. If the day is not on the receipt, the receipt date is not completed. Foreign currency and Turkish lira are not melted on the same line. A line that is not melted is not filled with an exchange rate in this text either. If the judgment tied interest to a set frame, the proceeding does not add a sentence outside that frame. A sentence that is not added is not written as a percentage either. If the rate in the contract is illegible, it stands in its illegible state. The place where it stands is not replaced with a round rate.

Where interest is read from

The contract and the request for enforcement stand side by side, and this article does not add an interest rate or a percentage. An Ankara lawyer reads from the record in the request that the office being in Çankaya does not change the competent authority. This article does not make accrued interest and interest yet to run a single line. This article does not treat a rate that is not in the contract as written in the file.

Conclusion

How interest is claimed in enforcement is answered with the basis and the starting day. The interest rate and the percentage are not written in this text. Accrued interest and interest yet to run are separate lines. The frame sits on the enforcement and bankruptcy page. The basis is Law No. 3095 and the Enforcement and Bankruptcy Law.

Legislation

Frequently asked questions

What is the current rate of enforcement interest?

This article does not write a rate. If the contract has a valid rate, that rate applies. If it does not, the Law on Statutory Interest and Default Interest and the communiqué in force are taken as the basis. The rate may change from year to year. There is no figure in this answer.

From which day does interest run?

The start is the date of default, or the day agreed in the contract. A day that was not written in the request for enforcement does not enter the file of itself. The date is read from the document.

Are accrued interest and interest yet to run the same item?

No. Interest accumulated up to the day of the proceeding is shown separately. Interest yet to run after the date of the proceeding is requested separately. Melting the two into a single amount breaks the cover account.

If the debtor pays the principal, does interest stop?

A payment that has not been entered in the file does not of itself close the interest and the attachment. The order of allocation is read from the cover account.

Related reading

This article sits under one practice area. The neighbouring guides carry the detail that does not belong in this text.

Practice areas · Enforcement & bankruptcy

Sources

AK

Author

Av. Ayşenur Konar

Lawyer on the Ankara Bar Association roll, founder of Konar Hukuk. This text is general information; a specific file is reviewed separately. Author profile · Editorial policy

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