KÜHEYLAN HUKUK
What Happens If the Debt is Sold to an Asset Management Company? Assignment, Collection Rules and Debtor's Rights Updated as of 2026 within the framework of the Turkish Code of Obligations art.183-189 and the Regulation on the Establishment and Operation Principles of Asset Management Companies and Transactions Regarding Receivables to be Acquired (with August 2025 amendments).
Receiving a call or message from an unknown company one day regarding an old loan or credit card debt owed to the bank often means that the debt has been transferred to an asset management company. The transfer is not subject to the approval of the debtor; However, it does not increase the debt, does not eliminate the defenses that the debtor has against the bank, and binds the collection process to strict rules with BRSA regulations. With the changes made in 2025, call hours and frequency are further limited. The guide explains the legal nature of the transfer, the notifications that must be made to the debtor, the communication rules that asset management companies must comply with, the documents that must be obtained during reconciliation and payment, the statute of limitations and old enforcement files.
1. Why and How to Transfer Debt?
Asset management companies are companies established to purchase and collect receivables that banks and other financial institutions have difficulty collecting and are subject to the supervision of the BRSA. In addition to their non-performing receivables, banks may also transfer their receivables whose principal or interest payments are delayed for more than sixty days to these companies (Regulation article 19/3). As a rule, the transfer is made by tender procedure and in the form of portfolios (Art. 18/2).
The debtor's consent is not required for the transfer of the receivable; The creditor may transfer his receivable to a third party unless the law, contract or nature of the work prevents it (TBK art. 183). The Supreme Court accepts the assignment of bank receivables to asset management companies as valid within this framework and states that the debtor cannot be relieved of the debt solely based on the letter of assignment (11th HD, 11.09.2024, E.2023/4301, K.2024/6284).
2. Does the debt change with transfer?
No. The transferred receivable passes to the new creditor in the same condition as it was in the transferring bank, with all its superiorities and disabilities (HGK, 09.12.2021, E.2017/3099, K.2021/1647). The debtor may assert against the asset management company all the defenses he had against the bank when he learned of the transfer (TBK article 188). Objections such as calculation of interest contrary to the contract or legal limit, unfair dues and fees, statute of limitations or non-fulfillment of due date conditions remain valid after the transfer.
Guarantees such as pledges, mortgages and sureties, as well as accrued interests, pass to the transferee along with the receivable (TBK art. 189). The fact that the asset management company purchased the receivable from the bank for a low price does not automatically reduce the debt of the debtor; However, in practice, it creates an important bargaining area in compromise negotiations. When a receivable arising from a consumer loan is transferred, the nature of the dispute as a consumer transaction does not change.
1. Bank notification before the transfer: Before the transfer, the bank under the supervision of BRSA must notify the debtor, along with the original debt and its accessories, to which asset management company the receivable will be transferred (Regulation article 19/1-a).
2. Company notification before collection: Before starting tracking and collection processes, the asset management company sends a written notification to the debtor's address, including the transfer of the debt and the company's contact information. Details of the debt are not included in this notification (Art.20/1-2).
3. Full information at the first meeting: When the debtor calls the company or applies to the company in writing, the source of the debt, its origin, its accessories, the legal proceedings to be encountered in case of follow-up, and the fees and expenses to be paid are explained simply and communicated in writing (Article 20/3).
4. Document request: The debtor's complaint-based information and document requests must be met by the bank within fifteen days from the date the request is forwarded to him (Art. 19/1-d).
Payments made in good faith to the bank before the transfer is notified to the debtor are valid and relieve the debtor from the debt to that extent (TBK art. 186). For this reason, payment receipts before the notification date should be kept.
The Regulation specifically regulates communication with individual debtors under detailed rules. With the changes published in the Official Gazette dated 27 August 2025, call hours were reduced to 09.00-17.00 and weekends were also included among the days when calls cannot be made.
unreachable debtor Maximum 3 calls and 1 message per day, including different lines art.24/1-c
Reached debtor If there is no recorded consent, at least 5 business days until the next call art.24/1-c
Debtor who does not want to be searched A person who does not accept the debt, refuses to compromise and clearly states that he does not want to be searched cannot be searched unless there is concrete documentation. art.24/1-c
third parties Information about the debt cannot be given to people other than those who want to assume or pay the debt, nor can they be contacted. Article 21/2
Reputation Communication and collection methods that damage the debtor's reputation in society are prohibited. Article 21/3
A complaint can be made to the BRSA about the company that violates these rules. Calling the workplace, neighbors or relatives and talking about the debt may also constitute unlawful sharing of personal data, which may lead to an application to the Personal Data Protection Authority and compensation for violation of personal rights.
Asset management companies often offer a closing amount below the file debt. It is mandatory to notify the debtor in writing or via a permanent data recorder that the debt ends when each amount offered and the agreed amount is paid (Regulation Art. 21/1). If there is an open enforcement file, the fee, tax and opposing party's attorney fee that must be paid to close the prosecution must be clearly stated before payment, and the total closing balance must be transferred by including these costs (Art. 22/3). When the follow-up is eliminated, the company is obliged to make the necessary notifications to the Risk Center and relevant authorities (Article 22/4).
A significant portion of the receivables transferred to asset management companies are debts that arose years ago. Loan and credit card receivables are subject to a ten-year statute of limitations (TBK article 146); Each follow-up transaction, partial payment or written acceptance of the debt interrupts the period (TBK article 154). In a finalized enforcement file, if the creditor has not taken any action for a long time, it should be examined whether the statute of limitations has expired since the last action; If the period has expired, the debtor may apply to the enforcement court and request the cancellation of the proceedings (EBL art. 71/2). A small payment made as a "goodwill gesture" towards an old debt can start the expiration date over again.
The bank initiated enforcement proceedings in 2017 for the credit card debt that E.Ç. could not pay in 2016, and the receivable was transferred to an asset management company in 2022. In 2026, the company started calling E.Ç. five or six times a day, including weekends. An employee called his workplace, told a colleague about the debt, and made a "last chance" offer in exchange for sixty percent of the file debt.
When the enforcement file was examined, it was determined that the follow-up request included a dues and compound interest account for the period after the card cancellation date. These objections were also put forward against the asset management company in accordance with Article 188 of the Turkish Code of Obligations; A complaint was made to the BRSA regarding the call frequency, hours and notification made to the workplace. In the renegotiation, the closing amount was reduced, the total balance, including enforcement fees and attorney's fees, was received in writing before payment, and after the payment, a notification that the debt was terminated, an enforcement record indicating that the follow-up was closed, and a Risk Center update were provided.
If the asset management company bought the debt cheaply, would it be enough to pay the same amount?
Legally no; The debtor is responsible for the entire inherited debt. However, the fact that the company purchased the receivable at a discounted price makes it easier to reach a reasonable closing amount in settlement negotiations.
Can the asset management company apply for a guarantor?
Yes. Suretyship and other guarantees pass to the transferee together with the receivable. The guarantor may also assert his own defenses and those of the principal debtor against the company.
How to understand that the incoming message is really from an asset management company?
Asset management companies with operating permits are listed on the BRSA website. Payment should only be made to the company's official accounts or enforcement file, and money should not be sent to personal accounts or links sent by message.
Will the credit score improve after the debt is paid?
When tracking is closed, the company is required to notify the Risk Center. The record is updated as closed; However, past delay information may be taken into account in credit evaluations for a while longer.
Basing payment on verbal offer: Payment should not be made without receiving the agreed amount and the termination of the debt in writing.
Not asking for enforcement costs: If fees and attorney fees are not included in the total closing balance, the file may remain open after payment.
Giving up old defenses: Interest, dues and statute of limitations objections can also be raised after the transfer.
Interrupting the statute of limitations with small payments: A partial payment made without reviewing the account may restart the statute of limitations.
Enduring illegal calls: Violation of time, frequency and communication rules with third parties must be reported to the BRSA.
A debt transferred to an asset management company is not a new debt for the debtor; It is the pursuit by a new creditor of the old debt, which carries all the defects and defenses of the relationship with the bank. In this process, determining the real amount of the debt, evaluating statute of limitations and interest objections, making legal applications against violations of communication rules, and completing the reconciliation with documents that will truly end the debt are decisive. Küheylan Law Firm offers a process management that secures the legal position of debtors, from detailed examination of the inherited receivable and enforcement file, to the settlement negotiation with the asset management company, to closing the proceedings and correcting the Risk Center records.
Important Legal Notice: The legal explanations, tables and case studies in this guide have been prepared by Küheylan Law Firm for general information purposes based on the legislation and judicial decisions in force as of 2026 and do not constitute legal advice. Since contract provisions, notification dates and periods directly determine the outcome in banking and finance disputes, it is recommended that each concrete case be evaluated separately by a lawyer. © 2026 Küheylan Law Firm. All rights reserved.
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