Amendments On Bounced Checks, Protested Bonds, Credit And Credit Card Debts Brought About By Law No. 7226

Amendments On Bounced Checks, Protested Bonds, Credit And Credit Card Debts Brought About By Law No. 7226

1. Amendments On BouncedChecks, Protested Bonds, Credit And Credit Card Debts

Provisional article was added to the law No. 5824 with the article numbered 48 of the Amendments on bounced checks, protested bonds, credit and credit card debts of the Law No. 7226. According to this article; records held by The Banks Association Risk Center of Turkey regarding disruptive payments of the principal, interest and/or secondary payments of the cash and non-cash loans used by natural and legal persons and credit customers’ unpaid checks, protested promissory notes, credit cards and other credit debts before the principal and / or installment payment date 24/3/2020 shall not be taken into account by the credit institutions and financial institutions on the financial transactions with these persons in case of full payment or restructuring of the delayed payment of such debts by 31/12/2020. The aim of this regulation is to limit the effects of the epidemic on commercial life and cash flow.

2. Amendments Regarding the Execution of Bounced Check Crime

With the temporary article 5 added to the Check Law with the article 49 of the law numbered 7226; The execution of the bounced check arrangement crime regulated in Article 5 of the Check Law has been stopped for once. However, this stop is bound to certain circumstances and the convict must pay 10% of the check price within 3 months from eviction and the remaining amounts in 15 installments in two months intervals.

If payments are made smoothly, the public case will eliminated by the court with all its consequences. Otherwise, if payments do not occur and installments are hindered twice, the decision will be made to continue execution upon the creditor’s complaint. And in accordance with Article 353 of the Execution and Bankruptcy Code, against these decisions will be legally objected and judicial control measures may be applied against the condemned person whose execution has been stopped in accordance with Article 109/III-a of the Law of Criminal Procedure.