THE RULES OF COMPENSATION FOR DEBT RECOVERY COSTS HAVE BEEN CHANGED AGAIN

On 24 March 2016 new rules entered into force on the compensation for debt recovery costs (“behajtási költségátalány” in Hungarian). Until this date, the compensation for debt recovery costs was regulated by the Hungarian Civil Code, now the rules are included in a separate act.

The most important change is that it is no longer compulsory to charge compensation for debt recovery costs (in forints in the amount equivalent to EUR 40), it is just an option. The scope of the application of the compensation for debt recovery costs is restricted to trade transactions.

If the compensation is not paid by the debtor on a voluntary basis, it can be claimed by the creditor in a payment notification within one year from the date of the delay. If the creditor does not claim the compensation for debt recovery costs, there is no need to prepare a separate waiver document. If the compensation is not claimed within one year, the debtor shall be released from this sanction.