Limitation of certificates of unpaid debts (Switzerland)

In Switzerland certificates of unpaid debts expire after 20 years. This applies since the entry into force of the amended Debt Collection and Bankruptcy Act on 1 January 1997. Prior to the revision certificates of unpaid debts were not statute-barred. Now for the first time, 20 years after the revision of the law, certificates of unpaid debts expire, and with them all certificates issued prior to 1 January 1997. It is estimated that several million certificates of unpaid debts and receivables of CHF 15 billion are affected. The limitation can be avoided by initiating debt collection or court proceedings, acceptance of debt or partial payment. We recommend that you check the certificates of unpaid debts in your possession and where appropriate effect the suspension of limitation in time. We gladly advise and assist you.