Step by step - How it works after the initial consultation:

Step 1

• We check that all required documents are complete and up to date
• Client file creation and creation of the list of creditors
• Analysis of possible solutions
• We discuss these solutions with you
• Determination of the target

Step 2

• Claims query with the creditors or creditor representatives
  
• Recording of responses in the list of creditors
• Review with determination of the objective, change if necessary (in a personal meeting with you)
  Duration: approx. 4 - 8 weeks

Step 3

• Out-of-court settlement attempt with the creditors.
• Recording of responses and evaluation
  Duration: approx. 4 - 8 weeks

Step 4

• In case of agreement: Transfer of payment plan = proceedings are concluded
• In the event of failure: issue certificate in accordance with InsO - see step 5.

Step 5***

• Preparation of insolvency application, including submission to
  Insolvency court
  Duration: 2 - 4 weeks
  Proceedings are completed.

***Costs may be incurred here, but we will discuss these with you in advance if necessary