Extinguishment of privileges

Privileges get extinguished:- 1. By extinguishment of principal obligation; 2. Through relinquishment by the creditor; 3. By prescription; 4. In the cases specified in paragraphs 1, 2, 3, 4 and 5 of article 882, and in paragraph 1 and 2 of article 883, except for the provisions of paragraph no.6 of article 882.