In our processing office in Rinteln, we try to reach an out-of-court settlement with all creditors, i.e. an out-of-court agreement on the repayment of the claims.

This means that if an agreement is reached, there is no need for insolvency proceedings and therefore no need to file for insolvency. Accordingly, in the event of an agreement, you do not have to go into so-called "private insolvency". In any case, you can come to us at any time to find out about the status of your case. Our processing office is open Mondays to Thursdays from 9:00 - 16:30 and Fridays from 9:00 - 13:30. Appointments outside these times are of course always possible by appointment.

You must attempt to reach an agreement with your creditors before you can file for insolvency! This is a basic requirement. In the event of a failed attempt to reach an agreement, we will provide you with the relevant proof. You will need this in almost all cases to apply for insolvency proceedings.

Apply for personal insolvency

If the attempt to reach an agreement fails, you as the debtor can apply for consumer insolvency proceedings. This is also known as judicial debt settlement proceedings. The court examines the prospects of success. If the insolvency court is convinced that the insolvency proceedings have a chance of success, it will submit a judicial debt settlement plan to all creditors. Your creditors then have 4 weeks to object to the debt settlement plan. If the plan is accepted by at least half of the creditors, the court can replace the consent of the other creditors (who have objected) at your request. To summarize: a compulsory insolvency court settlement.

The application form for consumer insolvency proceedings is not easy to complete. However, we will support you and submit the application to the court on your behalf.

 

Opening of insolvency proceedings

The third phase of the proceedings is the opening of insolvency proceedings. This is only opened if the court debt settlement plan is rejected by the creditors. If insolvency proceedings are opened, a so-called trustee is appointed from this point onwards. Their main task is to list the creditors' individual claims and manage all of the debtor's assets.

The so-called "good conduct period"begins in the final stage of the proceedings . During this time, it is the trustee's task to distribute your attachable income to the creditors. This is done with the help of a fixed quota according to the insolvency table. It is important to note that not all of your income may be seized. Rather, you must retain a certain proportion for your own living expenses.

Once the good conduct period is over, a new court hearing is held between the creditors and debtors at the end of the insolvency proceedings. This is the last opportunity for creditors to raise objections. As a rule, however, you do not have to attend.

If there are no objections from creditors, the insolvency proceedings are concluded and you are finally released from your debts (residual debt discharge).

This means that there is no longer any legal possibility for your creditors to enforce their claim.

Cooperations

Finally, we would like to inform you that the head of our debt advice service is Mr. Heinz Krüger, lawyer. This ensures that legal advice is provided as part of our debt counseling service from the very first consultation. We will advise you individually and in detail. You will receive an appointment with us within 3 working days.

Our premises are also home to the Schaumburg Advisory Center and the agency Ihr Checkpoint.