Debt mitigation- remedies to debt problems

You are expected to keep your property as a real estate or a car.

All debts incurred before the application was approved are negotiated.

A contract is approved when all creditors have agreed to its terms. When a contract enters into force, the payment shelter ends.

The contract generally lasts 1 to 3 years.

Points of agreement

• The debt relief is carried out at the end of the contract.

• Monthly payments: You pay a fixed monthly payment to the bank. The bank transfers payments to the claimant

• Lower payment or maturity: You pay a reduced payment on mortgage claims, such as mortgage claims for real estate or car loans.

• Conditional changes: Various changes to the terms of the contract.

An agreement may contain one or more points.

Mortgage claims

You can negotiate a reduced payment or a fee-free period. This applies to mortgage lending claims and other mortgage lending claims, for example, for car loans.

Special remedies

Special remedies apply to debts to public bodies:

• Student loans: You can negotiate the payment period for student loans. If you default before agreeing to a loan, you will be added to the principal amount of the student loan.

• Premium liabilities: Premium liabilities are agreed on alongside a payment adjustment agreement.

• Unpaid public charges: Unpaid public charges are agreed upon in or with the contract.

• Fines: Fines are agreed on in parallel with a contract, for example with. A contract does not prevent the collector from imposing a surcharge for a financial penalty.

• Criminal costs: Criminal costs are agreed in a payment adjustment agreement.

Contract expires

An agreement shall automatically expire if:

• you have not paid from the contract for 6 months and have not requested a change because of the circumstances

• your home is subject to bankruptcy proceedings

• the applicant is withdrawn

Back: Application is appoved

Onwards: Your assets