The Romanian Senate has adopted, in Monday’s meeting, the modification of the Romanian leasing law, according to which the leasing contracts are no longer executory and the user will be able to pay the debt from the capitalization of the asset.
In past legislation there is was no distinction between who the borrower/user was. But with the new leasing legislation, it is foreseen that such contracts will no longer be enforceable when concluded with consumers.
”We have established the procedure by which a user who uses a good can end his debt with the leasing company. Today things are as follows: when the user handles the asset, the leasing company still requests them to pay the instalments until the contract expires. It is unnatural to be dispossessed and continue paying those rates.
We have clearly established the procedure by which the lease with the leasing company will be concluded – the asset will be capitalized, the value of the respective asset is redeemed by the user, the user is obliged to conclude the accounts with the leasing company, and if he obtains a lower amount than the amount due is forced to bring money from other sources to clear the debt, and if he gets a higher value he will keep the difference and pay the amount due to the leasing company, ” said the initiator of the amendments, liberal Senator Daniel Zamfir .