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Are the amount of debts starting to overwhelm you?
Are you short of funds to repay your debts?
With our help, you will have the chance for freedom from debt and a new start
However, being in business does not completely determine the impossibility of declaring bankruptcy.
A bankruptcy declaration may occur when there is a state of insolvency. In other words, it is help in a situation of overwhelming debt, mostly arising from reasons beyond the debtor's control, such as illness, redundancy, difficult personal circumstances, as well as ill-advised financial decisions. The purpose of declaring consumer bankruptcy is debt relief, i.e. enabling the insolvent person to get out of debt.
In a significant proportion of proceedings, liabilities are written off completely. In the remainder of the proceedings, the majority of debts are written off and the remaining unremitted debts are repaid through a viable repayment plan - one low instalment set by the court.
Contacting the law firm is the first and essential step. We will analyse your financial situation free of charge and check whether declaring bankruptcy is the right solution for you.
We collect all the information and documents necessary to prepare an effective application. Based on these, we will comprehensively prepare a complete consumer bankruptcy application.
The court may declare bankruptcy proceedings or dismiss or return a consumer bankruptcy petition.
At this stage, the trustee determines the value of your debts, examines what assets you have at your disposal and which of your assets can be disposed of and which are exempt from enforcement under current legislation
Depending on which form your proceedings take - simplified or general - the trustee will prepare a draft repayment plan for you, or it will be incumbent on you to submit a timely request for the establishment of a repayment plan or a request for remission of liabilities.
The court, after reviewing the case material, will decide to what extent your liabilities will be written off and when this will finally take place.
Consumer bankruptcy is a special opportunity for debt relief, if you are a non-business individual who is unable to meet your obligations on your own. However, declaring consumer bankruptcy has far-reaching consequences, that you should be aware of when considering filing for bankruptcy.
The assets will become the bankruptcy estate. It is worth noting that the bankruptcy estate is not only the assets you own at the time of the bankruptcy declaration, but also those you acquire during the bankruptcy proceedings. Hence, part of the income you earn may be seized for the benefit of the bankruptcy estate.
All your assets, subject to the exceptions set out in the legislation, will be sold by the trustee during the insolvency proceedings. The funds raised in this way will be used to cover the costs of the proceedings and your obligations towards your creditors.
Among the unpleasant consequences of consumer bankruptcy is a restriction on your ability to enter into contracts. In practice, this means that you will be able to enter into typical everyday contracts, such as buying food. However, you are absolutely precluded from entering into contracts that could increase your debt balance - i.e. you will not be allowed, for example, to take out another loan.
The assets will become the bankruptcy estate. It is worth noting that the bankruptcy estate is not only the assets you own at the time of the bankruptcy declaration, but also those you acquire during the bankruptcy proceedings. Hence, part of the income you earn may be seized for the benefit of the bankruptcy estate.
All your assets, subject to the exceptions set out in the legislation, will be sold by the trustee during the insolvency proceedings. The funds raised in this way will be used to cover the costs of the proceedings and your obligations towards your creditors.
These are just some of the consequences of declaring bankruptcy; nevertheless, consumer bankruptcy is a good recipe for combating the problem of over-indebtedness.
You can count on counsel from our law firm to help you prepare the necessary documentation.
Some of the cases and people we assist include:
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Consumer bankruptcy is the type of legal proceeding provided for for consumers, i.e. people who are not in business. If you have found yourself in a difficult situation contact us - We will help you find a solution tailored to your situation.
Upadłość konsumencka jest postępowaniem sądowym przewidzianym dla osób prywatnych, które nie prowadzą działalności gospodarczej i stali się niewypłacalni. Upadłość konsumencka pozwala osobom prywatnym na oddłużenie oraz na nową szansę
Osób posiadających nadmierne zadłużenie jest wiele, a niewątpliwie znaczna ich część posiada współmałżonka. To w jakim zakresie współmałżonek odpowiada za zobowiązania zależy m.in. od ustroju majątkowego jaki pan
Consumer bankruptcy covers all debts incurred before the date of the bankruptcy declaration. The procedure ends with the discharge of all debts or the creation of a repayment plan that states how much and for how long the debtor will have to settle his debts. According to the law, bankruptcy
Before filing for bankruptcy, a number of documents that are required by bankruptcy law must be prepared. The proper preparation of the documents is extremely important for the smooth conduct of the bankruptcy proceedings themselves. It is on the basis of the application that the Receiver appointed
The application for consumer bankruptcy should be filed through the National Debt Register. As of 1 December 2021, all applications in bankruptcy and restructuring cases should be filed electronically. However, the legislator has provided for an exemption from the above-mentioned rule in a few cases.
As of 01 December 2021, the telecommunications system National Debt Register came into force and it is through this system that all communication in bankruptcy and restructuring proceedings takes place. Therefore, as a rule, insolvency petitions should be filed electronically via the
Bankruptcy proceedings are opened on the basis of a bankruptcy petition. The petition mainly contains a description of the debtor's situation and the documents indicated in the bankruptcy law. The petition is filed when an individual is insolvent, i.e. when he has lost the ability to meet his obligations
An indebted consumer who has filed an application to withdraw a bankruptcy petition, if his or her financial situation changes, may file an application to withdraw the bankruptcy petition. The application itself does not require a statement of reasons, but this is an important element of the application, as the Court may dismiss the application on the grounds that it
The primary tool for recovering one's debts from a debtor is a civil action. Civil proceedings end with an order for payment, which is then issued with an enforcement clause. With such an order for payment, the creditor may go to a bailiff, who will take action to
It leaves no doubt that people who are thinking of filing for bankruptcy are in a difficult financial situation. Indeed, bankruptcy was created for such people. Such people very often have, in addition to financial problems, problems with debt collection companies or bailiffs.
According to the applicable regulations, the bankruptcy estate includes assets of the bankrupt acquired also during the course of the proceedings. Such assets include, for example, remuneration for work. According to the general rule, it is subject to seizure up to the amount of half of the remuneration, however, the amount not exceeding the amount of the remuneration is not subject to seizure.
The mere issuing of a bankruptcy order by the court does not yet mean that your debts have been discharged. In order for your debts to be discharged in bankruptcy proceedings, it is necessary to conduct bankruptcy proceedings, during which the exact amount of your liabilities is determined
When declaring bankruptcy, it should be taken into account that all assets held will be liquidated, i.e. sold, and the funds thus obtained will be used to cover the costs of the bankruptcy proceedings and satisfy the claims of creditors. The sale is subject to the following
Insolvency proceedings affect many issues concerning the life of an indebted person. The effects of bankruptcy can extend to actions taken by indebted persons before bankruptcy, during bankruptcy proceedings and also after bankruptcy.
The declaration of consumer bankruptcy involves a court procedure, hence the conditions to be met are described in detail in the law, and more specifically in Part Three, Title V of the Bankruptcy Act. This act regulates against whom and under what circumstances a declaration of
Instant loans, consumer credit, non-bank loans, unpaid instalments or overdrafts - despite appearances, this is the reality for many people. Several million Poles are drowning in debt, living in constant stress and fear for their future.
Whether your debts will be written off in the course of insolvency proceedings, and to what extent this occurs, depends on a number of factors, including. how your debt came about, as well as on the extent to which the trustee succeeds in satisfying your creditors with the funds obtained from the sale of your assets, and also depends on the following what earning capacity you have, what your living situation is, how many dependants you have.
These factors will influence whether the court will make an order refusing remission your liabilities, will set up a repayment plan for you, or will write off your liabilities without you having to make any repayments to your creditors.
However, it is important to be aware that there is a catalogue of liabilities that cannot be written off during insolvency proceedings.
Check whether the liabilities you have can be written off in bankruptcy proceedings.
Contrary to what some lawyers claim, owning a flat, a house or other valuables is not a prerequisite for the court to agree to a consumer bankruptcy.
It is also worth highlighting, that there is a misconception in the media space that only items with a value in excess of PLN 5 000 are considered assets.
In addition, this must also be taken into account, that, on the basis of the applicable legislation, e.g. agreements for the donation or sale of assets that were concluded during a certain interval before the filing of the insolvency petition may be declared ineffective during the insolvency proceedings.
If you have done so in the recent past and are considering filing for bankruptcy, it is essential that you consult us to ascertain whether they will be effective.
The bankruptcy estate includes the consumer's assets, including that which is acquired during the course of the bankruptcy proceedings. Thus, in the event that you are living off your salary or pension, part of these benefits will be subject to attachment.
However, it is important to remember, that the law regulates the extent to which salary and pension benefits can be enforced. In addition, the law also regulates whether other benefits, e.g. social benefits, insurance indemnities, funds paid from the Company Social Benefits Fund, income tax overpayments, etc. do or do not enter the bankruptcy estate
Make sure which of your incomes are safe and will not be seized during bankruptcy proceedings.
Declaring bankruptcy affects your spouse depending on whether there is joint or separate property between you. It is also important to consider how and when the separation of property came about, as this may not be effective in certain cases. When one spouse is declaring bankruptcy, it is also worth considering whether the other spouse is jointly liable for your debts, e.g. as a result of providing surety or signing a promissory note, and how this will affect him or her.
As a general rule, the joint property of the spouses shall form part of the bankruptcy estate in its entirety and serves to satisfy the debts of that spouse who has been declared bankrupt. Nevertheless, the other spouse may claim his or her rights in respect of his or her share of the joint property in the course of the bankruptcy proceedings.
With the declaration of bankruptcy, your assets will become the bankruptcy estate, which will be used to satisfy creditors' claims. However, it is worth knowing that not all of your possessions will be subject to sale. The law directly regulates which items must remain at your disposal and also provides for severe sanctions for failure to demonstrate all your assets.
If you are in doubt about which items belonging to you will be sold by the trustee, please contact us - we will answer your questions.
The basic court fee for filing a bankruptcy petition is PLN 30.00.
You can find out how to file it and whether these are the only costs you have to take into account when filing for consumer bankruptcy during a free consultation with our specialist.
It is only possible to declare consumer bankruptcy once you have ceased trading.
If you are in doubt about the status of your business or are wondering how long you need to have been out of business before you can apply for consumer bankruptcy, our advisors can answer your questions.
We are a law firm whose the overriding aim is to help in difficult situations crisis for companies as well as for private individuals. We have been handling insolvency and restructuring proceedings for many years.
We have at your disposal licensed restructuring advisors, who in cooperation with experts communication, finance and law will guide you through the insolvency process.
Call:
+48 22-30-05-105
+48 22-30-05-106 (fax)
Write:
kancelaria@pmr-restrukturyzacje.pl
Visit us:
70 Prosta Street
00-838 Warsaw
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Wednesday: 13:00 - 16:00
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PMR Restructuring S.A. @ 2024
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