Čeština
PROFESSIONAL DEBT RELIEF AT A GREAT PRICE
Has your business not worked out? Have you or your company fallen into insolvency (úpadek)? Are creditors or bailiffs putting pressure on you? Don't worry, we will help you. Insolvency or over-indebtedness can happen to anyone, often through no fault of their own. The way out is then usually difficult. That is why we offer professional debt relief (oddlužení) in cooperation with a reputable law firm.
Debt relief, personal bankruptcy or insolvency (insolvence) are terms for a way of resolving the insolvency of a debtor who has liabilities more than 30 days overdue with several creditors and who is unable to meet them. The aim of debt relief is to revitalise their financial situation so that they can return to ordinary life. And that then without debts and with the chance to start with a clean slate.
Debt relief is the most effective legal way to get rid of debts, once and for all. Every such proceeding always takes place under the direction of the court and under the supervision of an insolvency administrator (insolvenční správce). Based on a careful assessment of your situation, we will propose a possible solution and guide you through the insolvency proceedings. You will benefit from our support during personal bankruptcy – we are here for you!
BENEFITS OF PROFESSIONAL DEBT RELIEF
- Consolidation of all debts into one
- Write-off of up to 70% of all debts
- Monthly instalment from just CZK 2,178
- After 5 years of repayment, the remainder of the debt written off
- Halting bailiffs and debt-collection agencies (after filing the petition
- No need to submit a list of all debts
WHY REQUEST PROFESSIONAL DEBT RELIEF FROM US
Low prices
of services
Affordable for companies
and entrepreneurs
Extensive
experience
We are a well-coordinated
team of experienced professionals
Everything under
one roof
From formation through registered offices
to changes and other services
Satisfied
customers
We have helped over
4,500 companies and the self-employed
PRICE FOR PROFESSIONAL DEBT RELIEF
The professional personal debt relief service is based on assessing the situation of the debtor and proposing the most effective way to resolve it. We build above all on understanding and speed; we do not examine the causes of the indebtedness. We will prepare all the documents needed to file the insolvency petition (insolvenční návrh) for you, so you don't have to waste time with paperwork or running around the authorities.
HOW DOES DEBT RELIEF ACTUALLY WORK?
During debt relief, all debts are settled at the same time, either by way of a repayment schedule (splátkový kalendář) or by realising movable assets. Most often a combination of both is used. A repayment schedule is normally arranged for a period of 5 years; however, if you repay 60% of the debts within 3 years, or 100% of the debts and the insolvency administrator's fee sooner, your debt relief will end
As part of debt relief, creditors may assert their claims only in the ongoing proceedings, and only in the amount and form laid down by law. It is also common practice that not all creditors register in the insolvency proceedings, for example because they do not follow the insolvency register or miss the strict deadline. It may therefore happen that the debtor repays the liabilities in a lower amount than expected. Once the proceedings end, all claims and the right to enforce them cease to exist.
HOW THE DEBT RELIEF PROCESS WORKS
It all starts by filling in the form below. On that basis, our specialists will contact you, go through everything with you and explain what we will need from you and how to obtain all the necessary documents. The process then normally runs as follows:
- Once we receive the documents, we will start working on your case – We assess the situation, propose possible variants of a solution, and if any obstacles to debt relief arise, we will inform you of the possible risks and do our utmost to remove them
- Next, we will prepare the insolvency petition and file it with the competent court – The petition may be filed only by an authorised person under the Insolvency Act (insolvenční zákon); the debtor cannot file it against themselves, so you will have the certainty that everything is handled professionally, without the need for further corrections or supplementing of formalities
- Commencement and course of the court proceedings – Once the court receives your petition, it will open the proceedings, and from that moment you must not pay instalments to your creditors and bailiffs lose the authority to conduct enforcement proceedings; the court proceedings are under our supervision throughout (we check that the process is correct, keep track of deadlines, etc.)
- Appointment of the insolvency administrator – A significant step in the process, which confirms that your proceedings meet all the conditions and at the same time sets a 30-day period within which your creditors can register their claims in the proceedings (if they fail to do so, their claims against you cease to exist)
- Approval of the debt relief – At the review hearing and the creditors' meeting, the conditions under which your debt relief can be approved will be discussed; the court will then issue a decision with the start date of your debt relief, the amount of the instalments and other information
- Completion of the debt relief – After the stipulated conditions have been successfully met, we will draw up a draft application for release from the debts; once the court approves it, you will be released from all your existing liabilities and will be able to start with a clean slate
Frequently asked questions from our clients
Specifically, these are cases where the debtor:
- Is unable to repay their debts and knows they will not be able to repay them the following month either (impending insolvency)
- Is not repaying debts to several creditors at once
- Already has enforcement against them, or wishes to stop the auction of assets by a bailiff.
The minimum threshold for writing off the remainder of the debts is payment of at least 30% of the liabilities. In addition, an amendment to the Insolvency Act came into effect on 1 June 2019, under which the writing off of debts can also occur once you have paid your creditors at least as much as the insolvency administrator's fee — namely the administrator's remuneration, the charge for drawing up and filing the petition and any maintenance. It then depends on the court whether it writes off the remainder of your debts. The law requires the debtor to make every possible effort to satisfy their claims in full. So if the court finds that you have tried hard enough, it may write off the remaining liabilities even above 70% of them.
Yes, you can. Debt relief for entrepreneurs is common practice, even if you have previously gone through bankruptcy (konkurz). The process of debt relief for entrepreneurs is somewhat more demanding than debt relief for non-business individuals. But we have experience with this too and know how to handle it. We do, however, always need as much information as possible from the client.
Yes, you can. Owning an ownership interest (obchodní podíl) in a company does not prevent debt relief. It is, however, an asset of value that you must list in the schedule of assets. If, on the other hand, you conceal your ownership interest, the court may assess this as dishonest intent and cancel the debt relief.
No, it is entirely out of the question to take on new liabilities while debt relief is ongoing. If you breach this, you also run the risk of your already approved debt relief being cancelled.
Yes, you can – the law allows it. After debt relief, however, the debtor remains listed in the insolvency register for a further 5 years. In most cases, though, people listed in this register have their application for a loan/credit rejected. But once the mentioned period has elapsed, the record is automatically removed from the insolvency register
REQUEST A QUOTE — DEBT RELIEF
Please fill in the form and we will get back to you within 24 hours on working days. If you would like to discuss anything, call us on +420 602 654 355 or send an email to [email protected].
