Debt mitigation- remedies to debt problems

In a contract for payment adjustment, it is possible to assume that the applicant will keep assets such as a car and a property.

There are legal powers on the payment adjustment of individuals intended to accommodate property owners in temporary difficulty.

You can provide for:

• Temporary lower monthly payment of mortgage claims

• Temporary suspension of mortgage claims in the event of a negligible or no payment capacity

• Also applicable to mortgage claims other than real estate mortgage claims

Over - mortgaged properties

Individuals may request a reduction in the mortgage of a property in such a way that it is based on the market value of the property, subject to certain conditions.

This is done alongside the payment adjustment process.

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