FAQ

is submitted  . This is a quicker non-litigation procedure, with no court hearing and lower costs.

The expedited order for payment procedure may be used to settle claims up to a  maximum of EUR 6400.
The expedited order for payment is processed through an E-file, so the whole operation is digital.

After the application for urgent payment order is lodged, the court or tribunal shall resolve the application within 10 days and send the debtor a form to file an objection.

In fact, the expedited order for payment and the whole subsequent process may be quite good for you. When you receive a court order for an urgent order for payment, you must either acknowledge the claim, or admit it, or state an objection as to why you consider the claim to be incorrect.

If you accept the claim, you have to make it clear that you have not been able to pay the amount so far and you can contact the creditor and ask for a payment schedule. This payment schedule must be signed by both parties and submitted to the court, where it will be certified as an enforceable title.

If you have an objection and you raise it, the matter will be resolved in the litigation, so the case becomes so serious, and the litigation also comes with everything that goes with ordinary litigation.

A bailiff is a person who has the right to seize a debtor’s property (including real estate, movable property, etc.) and even bank accounts to enforce a debt. At the expense of seized property or income, the claim is satisfied. This is the most extreme measure and hence the term ‘compulsory enforcement’ – the debtor is literally forced to pay the debt and there is no room for dispute or escape.

The enforcement notice will be sent first and will indicate the deadline for voluntary completion .
This means that a so-called ‘last term’ is given, by which time the debt is due.

If this is not possible, the bailiff must be reported on his assets and dependents. The bailiff has the right to seize the account to the extent that the minimum subsistence level remains, but an application must be made to the bailiff in order for the subsistence minimum to remain on the account.

Without a statement, there will be problems where the wrong account will be seized or withdrawn. The Lawyer’s page  still has some very good questions and answers about bailiffs.

There are two maturities related to debt maturity: 3 and 10 years. For claims arising from a transaction, the limitation period is 3 years.
However, the claims lapse after 10 years, when the debtor deliberately failed to fulfill his obligations. For example, bailiffs’ fees will expire in 10 years. The same period shall apply to claims which have entered into force by a judgment.

Bankruptcy proceedings satisfy claims against the debtor’s assets and, in essence, provide an opportunity to discharge his obligations. A bankruptcy petition may also be filed by the creditor or by the debtor himself.
Bankruptcy is a very extreme measure and declaring bankruptcy is not an easy matter. First, you need to file a bankruptcy petition with the court and, if the petition is accepted, a temporary trustee will be appointed to see if you have enough time to cover the debts and the costs of the bankruptcy proceedings in general. If you do not have enough assets, the procedure ends.
So the bankruptcy procedure really means that if you have no assets at all and are naked like a buttonhole, no bankruptcy will save the individual. The only thing that saves is increasing your income.

• the debtor has been warned against filing for bankruptcy and the debtor has not complied with the obligation within ten days.
• the enforcement proceedings have revealed that the debtor does not have sufficient assets to cover his obligations.
• the debtor hides or wastes his assets and has become insolvent due to mismanagement.
• the debtor has notified the creditor, the court or the public that he is unable to fulfill his obligations.
• the debtor has left the country or is hiding in order to refrain from dealing with his obligations.

If several bankruptcy petitions are filed against one person, they will all be brought together in a single proceeding.

The application must prove its insolvency – the application must explain the reasons for the insolvency and the list of debts. The list must include the names and addresses of the creditors, the particulars of the claims and all their assets.
A state fee of € 10 is also payable  .

Application Structure:

• Name of the court seised of the application (county court of location).
• Applicant details (name, personal identification code, address, contact details) and date.
• A brief summary of the situation and an indication that the details are set out in the Annexes. At the end of this summary, for example, it may be written: ‘I have become insolvent and will not be able to carry out my duties normally for an extended period of time. I request the opening of insolvency proceedings, the declaration of insolvency and the opening of insolvency proceedings against me. ” Your name and signature should be added at the end. When signing digitally, you should also note that the application is digitally signed.
• Reference should then be made to the annexes, which amount to a total of 4: 1) an application for relief, 2) an explanation of the reasons for insolvency, 3) a list of assets and liabilities and 4) a payment order for the state fee can be paid in cash on the spot).
• After the list of extras comes the aforementioned extras. The list of liabilities must include the name, address, registry code and details of the creditor as well as an honest record of your assets: monthly income, allowances,
  real or movable property, etc. Honest mentioning of assets is of paramount importance as assets cover liabilities.

Then the application will be reviewed and decided whether to take it to intervene.
Under bankruptcy law, an application is not admissible unless it has been proved that the insolvency has not been established or it has not been established that the creditor has a claim against the debtor. If the application is admissible, the  appointment of an interim administrator shall be decided within 10 days .

are terminated for lack of assets.
An interim trustee in bankruptcy is essentially the debtor’s representative and has the right to obtain from the debtor the necessary documents concerning his assets and liabilities and even to stay in the debtor’s premises. The interim trustee in bankruptcy shall, for the performance of his duties, be entitled to a fee to be determined by the court. The manager’s hourly rate is limited to EUR 96.
In bankruptcy proceedings, it should also be borne in mind that if the assets are inadequate and the proceedings end with the disappearance, the debtor must pay the trustee’s fees. The court may also order that the trustee be remunerated from State resources, but only up to EUR 397.

On the positive side, however, bankruptcy proceedings stop the payment of default interest and interest, terminate compulsory enforcement proceedings and can alleviate the stress that debt would otherwise have. The bankruptcy trustee monitors the debtor’s rights, and if the debtor has nothing to fear or conceal, bankruptcy proceedings are a good way to free himself from his obligations and rebuild his life.

Bankruptcy Law Consequences of Declaring Bankruptcy:

• The debtor’s assets become bankruptcy estate.
• The trustee in bankruptcy receives the right to manage the debtor’s assets and to represent the debtor in litigation concerning the bankruptcy estate.
• The debtor forfeits any right to transact with any bankruptcy estate.
• Interest and default interest shall be suspended.

Bankruptcy proceedings, however, can be quite costly, not to mention the fact that bankruptcy proceedings fundamentally lose all your assets. Before filing for bankruptcy, it is worth thinking about whether there is really any way out of debt or debt settlement. Consider these options, for example:

• Talk to your creditors – you may be able to find a golden mean to make your payment schedule. If you take the initiative to deal with the problem actively, it is also a good sign for the creditor.
• Consider Mortgage Loans – If you have real estate that is not already mortgaged, you may want to consider taking a mortgage loan. This option is suitable if you also have a stable income that allows you to pay off your loan payments. However, you will be able to pay off all your liabilities for the loan amount received – that is, refinance your loans  .
• Ask for help from family and friends – Understandably, it is very difficult to ask your friends or relatives for help, but you may still want to contact your loved ones before starting bankruptcy proceedings. If they can support you, this is a much better option than going to court and risking the loss of your property.
• Seek Debt Advice – Professional debt counselors will help you understand how you can handle your debts and the ways out. Together with the debt counselor, you may find that solving the problem is not as difficult as it seemed.

In any case, you shouldn’t be alone – seek help from your loved ones. The shared concern is half the concern, so consider all other options before making a hasty decision, as declaring an individual bankrupt should be the last in the list of solutions.

Public electronic auctions are conducted in an e-auction environment – the official auction environment for bailiffs and bankruptcy trustees. As mentioned above, the property seized by the bailiff or the property put in place by the bankruptcy trustee is sold by auction and seeks to liquidate the debts.