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Bankruptcy Consumer Bankruptcy
| Consumer Bankruptcy |
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| Written by admin | |
| Monday, 19 January 2009 | |
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Thanks to the Law on Bankruptcy, consumer who can not cope with the payment of financial obligations, will be able to once in ten years to declare bankruptcy. This will be possible only under warunkiemm that the debt was for reasons beyond their control, for example an accident, chronic illness or involuntary job loss.
Please note, however, that bankruptcy does not mean that the consumer will be freed from the burden of liabilities. For example, the court may order the sale of the debtor's apartment, and if it is not enough to impose on him a five-year repayment plan. During this time the consumer bankrupt will not be able to make purchases with deferred payment date or in installments. The new rules take effect in the first months of next year. |
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