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T Perrin C
T Perrin C, Consultant: information en droit du travail
Category: French Law
Satisfied Customers: 1412
Experience:  8 years as a Senior judge at Paris Conseil de Prud'hommes (Paris Industrial Tribunal)
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Hello! My name isXXXXX have a French mother and as

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Hello! My name isXXXXX have a French mother and as well as a sister both resident in Alsace. My sister Anne-Marie called me to inform me that as she has received a phone call from my mum's bank stating the following:
In 1976, my mum took a loan against a life insurance policy (which will cease upon her death). The bank are claiming that they want this debt settled which includes interest accumulated overs 37 years. My mum is partially sighted, and recently suffered a strock; she is now unable to recall this loan and to best of her memory, does not recall any correspondence requesting the settlement of the loan. They are claiming that correspondence was sent to my mum but we have no evidence of this. There is a statute of limitation in France and I am wondering whether the above situation would fall within it. Any advice would be appreciated. Best. Christiane
There is a very strong chance that this falls within the statute of limitations. One would suggest you refer the case to AFUB. They will be delighted to help you sort this out, for free.
Customer: replied 4 years ago.

Merci! what is the relevant statute of limitation in this? 5, 10 or 30?


Lastly, what does debt in general fall under? Is this commercial law?

Bank debts contracted by consumers fall under banking and consumer law.

The statute of limitations for most bank debts is 2 years (beginning 3 months after the first missed payment. The bank can put a stop to this statute of limitation by initiating a collection action at any time during this 2 year period). However, some loans backed by life insurance contracts used to be payable at the end of the life insurance contract, either when the life insurance policy was terminated by the investor recouping his/her funds, by the death of the investor, or by any other clause included in the contract. In which case, it could be dormant for 30, 40, 50 years in some cases.

Thus, you are facing a rather complex matter which can be solved only by reading very carefully the contractual information you have regarding this loan and this life insurance policy or by requesting that the bank submit a copy of all the contracts signed at the time. You need to figure out what triggered the bank's request for a settlement of the loan and when what the initial contract said about the settlement date for this loan (fixed - more than 2 years ago?, triggered by some circumstance set in the contract?,...)
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