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All about debt

Last Updated on Sunday, 29 May 2011 21:49 Written by Administrator Sunday, 29 May 2011 21:08

You are in serious debt if you can obviously not deal with all of your debts outside of work. You can file an application to the debt commission individuals to benefit from its involvement with your creditors.

Attention: special treatment is provided if you live in the departments of Haut-Rhin, Bas-Rhin and Moselle.

Those concerned

Only the person in debt, and under no circumstances creditors may request the procedure.

The person with financial difficulties should complete each of the following criteria:

• be an individual,
• be of French nationality, or to a stranger, be domiciled in France,
• have non-professional debts,
• have a debt of such importance that it is clearly impossible to deal with,
• in good faith.

Details of the criteria

Be an individual

Excludes legal persons (corporations, civil societies, associations, etc ...).

Persons engaged in self-employment (merchants, artisans, farmers, professionals) are other devices and are excluded from this procedure even if the debt has its origin in non-business debts.

The request may be made individually or with his consent, together with the person with whom you live and share expenses and resources.

All persons domiciled in France may be involved, whether French or foreign, as well as the French living abroad if they have incurred debts with creditors established in France.

Non-business debt

Debts considered must have been entered into for personal and family needs and not have an occupational origin. Is considered to be professional all debts which are directly or indirectly to the economic activity. If combined debt of occupational and non-professional, it is necessary that the amount of non-business debt is large enough to be the cause of surendetttement.

Indebtedness

The importance of debt should be such that it can not cope. There is no precise mathematical rate debt that would determine mechanically that is over-indebted or is not. The state of indebtedness is derived from a practical appreciation of the personal, family, business and property of debtors. Of course, it is not sufficient to have temporary financial difficulties or overcome.

Debts may result from unpaid mortgage or consumer loans.

They may also consist of charges outstanding (unpaid taxes, rents, etc. ...).

A single large debt may be sufficient to characterize the indebtedness.

In addition to the amounts due, that is to say already due and remained unpaid, the upcoming deadlines (eg a loan) are taken into account if it is a future debt, but some.

Good faith

A person in good faith is a person who does not consciously and deliberately incurred debts for living beyond its means or cash to avoid its obligations by the protection offered by the processing procedure of over-indebtedness.

Is not in good faith, the person who makes false statements or inaccurate documents provided to take advantage of the processing procedure of over-indebtedness.

Namely: good faith is required throughout the procedure.