Debt mitigation- solutions for debt problems

By law, a debt mitigation agreement automatically lapses if payments are in arrears on six due dates of the agreement and there is no indication that the debtor has requested an amendment.

The Debtors' Ombudsman shall notify creditors of the annulment upon receiving information regarding the default of the party concerned.

Furthermore, a debt mitigation agreement automatically lapses if the debtor dies during the debt mitigation period or if their estate is subject to bankruptcy proceedings.