The big question - what is left to live for?

In a joint, confidential discussion with you, we summarize the sum of your debts and compare this sum with your income.

We calculate how much you need to live on and how much of your income can be used to pay your creditors. If it turns out that your income no longer leaves any scope for monthly payments to your creditors, insolvency proceedings should be initiated.

However, if there is some leeway, we will write to your creditors and offer you an installment payment (or a one-off payment if necessary).

We organize your monthly living expenses according to urgency and advise you on possible subsidies, such as housing benefit or unemployment benefit or supplementary unemployment benefit II, or on how you can minimize your expenses.

We will also work out a restructuring plan with you so that you can easily keep your finances under control and your expenses do not exceed your monthly income.

Living expenses during the good conduct period

The good conduct period begins as soon as the insolvency administrator has distributed the available assets to the creditors, provided there is anything to distribute.

The period of good conduct generally refers to the period between the end of the insolvency proceedings in the narrower sense and the final granting of residual debt discharge.

In principle, the period of good conduct begins as soon as insolvency proceedings are opened and runs in parallel until they are terminated.

During the good conduct period, everything finally becomes easier for you as a debtor. You hardly have any contact with the insolvency administrator and can even save assets, agree capital-forming benefits with your employer, etc.

However, you must clearly adhere to your obligations in order to obtain discharge of residual debt.

Prior to this, all attachable assets and newly acquired assets are realized by the insolvency administrator when insolvency proceedings are opened. This includes attachable income, tax refunds, 100% of an inheritance or savings from savings accounts or attachable insurance policies.

During the period of good conduct, the attachable part of your income is still attachable. You will receive a 100% tax refund for the period after the period of good conduct and only 50% of inheritances can be seized.

In short: the sooner you enter the good conduct period, the better. Smooth and conflict-free cooperation with your insolvency administrator is absolutely crucial for this.

The most important facts about attachable income