Debt relief: a real solution to over-indebtedness?

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How to access the debit? Operation guide

How to access the debit? Operation guide

A bankrupt (and / or debtor) who has debts that he is not able to satisfy can resort to a procedure provided for in private law, and in particular by the bankruptcy law, which is called debit. The meaning, easily understood by the same name, is of “liberation” of the debts still in progress.

Main requirements

Main requirements

This release cannot take place against all debts: some remain excluded (for example, maintenance or maintenance costs of the family). Instead for those that can be admitted to the same procedure, it is essential that they cannot be satisfied anyway (for example after the conclusion or in any case the start of a bankruptcy procedure where the available assets have already been used).

The goal in particular of the debt relief procedure (and in this it refers above all to the failed entrepreneur) is to allow the applicant to get rid of debts that he cannot satisfy, without bringing them forward in time, so as to delay or even prevent a recovery economic and the start of a new activity (see also Balance and excerpt ).

Obviously this is a benefit (must be granted by the Court, which must be applied for) and must be in a position to “deserve it”. The applicant must demonstrate that he had no attitudes that were an obstacle to an insolvency procedure or debt settlement and that, on the contrary, he was cooperative and did not take any action to reduce his assets (or that it was aimed at speeding up economic collapse).

Access impediments

Access impediments

In this regard, the applicant must not have been convicted of fraudulent bankruptcy or similar penalties (it is not by chance that the criminal records and the pending charges must be included in the documents to be presented).

Furthermore, those who have already enjoyed all the previous 10 years of age (although see all the requirements for not paying taxes ) cannot access them. Finally, in the event of bankruptcy (technically, it can be requested even if the insolvency procedure is still in progress) it cannot exceed one year from the closing date.

How to apply?

How to apply?

As mentioned this must be done by the person concerned, or possibly by his heirs, and must be addressed to the territorially competent court, in particular to the registry of the bankruptcy section.

Generally, direct information can be obtained by calling the various chancelleries, for example to obtain the list of documents to be presented. Once the question has been asked, there are short times for the court to provide notifications to unsatisfied creditors, and to reach the possible sentence with which it accepts or rejects the request for debts (in this case it can be appealed within 90 days ).