Our Firm carry on, among others, proceedings within consumer insolvency. What is consumer insolvency? This solution is aimed at remission or diminishing of the debts of a natural person, who, when claiming insolvency, does not do any business. The insolvency laws also refer to consumers who have ceased their partnership in companies.
Declaration of consumer insolvency takes place when they are not able to cover their debts. Insolvency proceedings are to satisfy the creditors’ claims. The debt is covered by means collected from liquidation of the whole or of a part of the debtor’s property.
Consumer insolvency proceedings can be commenced by the means of the debtor’s or creditor’s application. After analysing the claim, the court examine whether all conditions of consumer insolvency are relevant and also whether insolvency is of no avail.