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CONSUMER BANKRUPTCY

The Law Firm specializes in handling cases of bankruptcy filed by natural persons who do not conduct business operations, or the so-called consumer bankruptcy. In this case we have a lot of experience; we have managed to help a number of Clients who were not able to repay their debts, and consumer bankruptcy was the only way for them to regain solvency and peace of mind. This is a relatively new option provided by the law, as a result of which people with heavy debts have a chance for their cancellation.

Advantages arising from consumer bankruptcy:

  • suspension, and then discontinuation of judicial, debt recovery and other enforcement proceeding; this is applicable e.g. to eviction process,
  • interest on debt stops accruing from the moment bankruptcy is announced,
  • individuals in a difficult situation, with no job and no property, have a chance to end the proceedings, and to have their debts cancelled without the necessity to satisfy their creditors,
  • it is possible to have all debts, interest and any costs cancelled in part or in whole,
  • it is not necessary to give up one’s job to be able to effectively file a consumer bankruptcy petition and struggle through the proceedings,
  • bankrupt does not have to pay off his/her creditors in full; the Court determines a repayment plan, and specifies the amount to be paid to the receiver, as a result of which the bankrupt retains access to his/her money, and voluntarily transfers the specified amounts. As a rule the “repayment” period is up to 36 months, and in determining the amount to be paid off the Court takes into account the bankrupt’s personal situation, making sure that they retain sufficient means of support for themselves and their family,
  • consumer bankruptcy can be declared even if you do not have many creditors; it is enough to have one loan whose repayment exceeds your financial capabilities,
  • bankrupt person will not be evicted from their house or flat “into the street” because following sale of their property they can receive money sufficient for renting a place for a period from 12 to 24 months,
  • low costs of judicial proceeding because the fee for filing the petition is only 30 PLN; it is also possible to be exempted from other costs by the court,
  • after bankruptcy proceeding has been effectively completed, Client may count on being removed from debt registers and may regain their creditworthiness.