| The loss of the right to collect a debt is determined in the case in which one's own right has not been acted upon during a delimitated period of time. In Italy the limitation times are defined depending on the type of credit, except in the case in which the Italian law states otherwise, the debt has a period of prescription of 10 years (art. 2946 Italian Civil Code). Some circumstances in which the period of prescription of debt is reduced to:
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five years for the right to compensation of damages derived from an illicit offence, the debts for the payment of rent, of interest, for retributions, the end of service pay out and retirement payments
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three years for debts regarding professional services |
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two years for debts that derive from the circulation of vehicles |
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a year for debts for the payment of insurance policy premiums
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six months for hotels collecting debt and those that provide lodging with or without boarding
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| The period of prescription of debt can be interrupted with a notification to the debtor, an act with which the creditor manifests in an explicit manner his intention to interrupt the period of prescription in addition to constituting the debtor to be in default. From the date that this act is received, the period of prescription will begin to take effect again
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