Collective debt settlement

If you fail to solve your money problems and pay off your debts, you can apply for collective debt settlement. The labour court will assign you a lawyer as debt mediator. Through a repayment plan , this will help you pay off your debts. Despite high debts and the pressure that goes with them, you can lead a dignified life.

The debt mediator receives your salary. With it, he pays you living expenses and pays off your debts. In principle, a collective debt settlement lasts a maximum of 7 years. What is not repaid by then is usually cancelled. However, some debts such as maintenance and penal fines cannot be cancelled.