If you are facing serious financial obligations, we help you find a path toward financial recovery.
We provide:
1) Out-of-Court Debt Settlement Mechanism
The Out-of-Court Debt Settlement Mechanism is an electronic, non-judicial procedure through which debts exceeding a total of €10,000 may be restructured with institutional creditors.
The out-of-court mechanism allows restructuring of debts exceeding €10,000 owed to banks, loan servicers, tax authorities, and social security funds, with substantial debt write-offs and repayment plans of up to 420 installments.
For debtors without assets, the new Bankruptcy Code allows full debt discharge with no payments, enabling a fresh financial start.
Eligible creditors include:
The settlement may provide for substantial debt write-offs (principal, interest, penalties, or surcharges), as well as long-term repayment plans, offering:
Our firm undertakes the complete handling of the out-of-court settlement procedure, including negotiations and restructuring of debts owed to banks, public authorities, and social security bodies.
Personal Bankruptcy
Beyond the out-of-court mechanism, effective debt relief may also be achieved through personal bankruptcy proceedings.
Jurisdiction for declaring bankruptcy lies with the Multi-Member Court of First Instance of the debtor’s place of residence or center of main interests.
In cases involving small assets, the procedure is initiated through the Electronic Insolvency Registry and may subsequently be heard before the Magistrates’ Court of the debtor’s residence or business seat.
For debtors with no assets, the new Bankruptcy Code provides an exceptional opportunity for full discharge of debts with no financial contribution, allowing a complete financial reset.
With our legal guidance, a debtor entering bankruptcy through liquidation of assets may obtain full and final discharge of all debts:
Otherwise, within three years
