There is a law that protects those who have too many debts to the tax authorities and are unable to pay them off. What does it offer and who can benefit from it?
Tax bills and taxes to pay are taxpayers’ biggest nightmare, especially in this latest complex year of economic crisis.
in some cases, Debt situations are very serious Those concerned wonder what they can do to improve their situation and restore order.
To that end, it might be helpful to know There is a specific regulation, and Over-indebtedness lawspecifically designed to provide assistance to those who have too many debts and are unable to pay them off.
It’s a law (also called “Rescue suicidesIt was introduced in 2012 to help small and medium enterprises, through a debt restructuring plan.
It can also be used by other workers, such as small tradesmen and the self-employed, or by ordinary citizens who are heavily indebted.
Over-indebtedness law: what does it do and how does it help taxpayers pay off all debts?
The over-indebtedness law states: The creditor’s right to pay differently What is fixed in the agreements concluded with the creditor.
can therefore, fulfill it within the limits of its financial resourcesThis is done through procedures that allow attachments to be withheld and executive procedures to be stopped.
The procedures required by law are as follows:
- the consumer planIt is intended for individuals and can only be used after verification by a court of the applicant’s condition and possession of all required requirements;
- to’Agreement with creditorsdedicated to companies and based on an agreement between the two parties;
- there Asset liquidationIt is recommended for the most serious and complex cases;
- to’Discharge of defaulted debtortargeting low-income debtors.
What cases can the law protect?
Debt that can be paid off thanks Over-indebtedness law I am Those contracts concluded with banks, financing companies, individuals, suppliers and public administrations (including the Revenue Agency).
On the other hand, debts arising from unpaid spousal maintenance or non-contractual damages are not covered by protection.
The reference legislation therefore provides an exceptional opportunity for all those who need to pay off debts but find themselves in apparent difficulty. Thanks to the tools it provides, Taxpayers can get rid of creditors permanently.
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