Additional funds can also be excluded

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For the other it is a source of income. from the bankruptcy estate. All receipts to the bankrupts accounts in excess of the subsistence minimum must replenish the bankruptcy estate. But if the borrower has minor children or elderly parents dependent on him, or there are expenses for treatment, etc., write a petition to the court to keep the money. Social payments, survivors pensions, etc. are not subject to collection. The restructuring stage is introduced if the debtors financial situation allows it. The maximum term is years. It allows you to change the.

Terms of a loan for a certain period. The loan agreement remains in effect. During restructuring, for example, you can reduce the interest rate. Sometimes the situation changes and the restructuring plan becomes laos telegram mobile phone number list unfeasible. Then the stage of property sale is introduced. . Completion of bankruptcy proceedings and debt writeoff Following the sale of property, a bona fide debtor is released from fulfilling obligations his debts are written off. What does bona fide mean? If creditors prove that the bankruptcy is intentional, or the debtor hid the property, intending to go bankrupt the debts will not be written off. ..

Early termination of bankruptcy This stage can be appropriate at almost any time during the procedure until it is brought to a logical conclusion. You can sign a settlement agreement with creditors and the bankruptcy case will be closed. This happens when, for example, a person has lost his job, despaired and thinks that it is time to declare himself bankrupt, but suddenly gets back on track, starts earning and understands that he initiated the procedure in vain. Here it is important to convince creditors that now and in the future you are solvent and will return everything to them..