What deadlines do I have to consider when filing for insolvency?
December 6, 2022 | 30,00 EUR | answered by Erwin Hausdorf
Dear bankruptcy lawyer,
My name is Ammelie Kuhn and I am currently facing the difficult situation of considering filing for bankruptcy due to financial problems. I have already thoroughly researched the topic, but I am still unsure about the deadlines I need to consider.
I am currently in a precarious financial situation, as my debts continue to rise and I am no longer able to meet my creditors' demands. I am under a lot of pressure and do not know how to get out of this situation. I fear that I will not be able to handle my debts alone and that filing for bankruptcy is inevitable.
Therefore, I would like to ask for your help and find out from you the specific deadlines I need to meet when filing for bankruptcy. I want to make sure that I comply with all legal requirements and avoid making any mistakes that could further worsen my financial situation. It is very important to me that I correctly go through the process of filing for bankruptcy and uphold my rights as a debtor.
Could you please explain in detail the deadlines I need to consider and the specific steps I need to take to correctly file for bankruptcy? I am grateful for any support and information that will help me find a way out of my financial distress.
Thank you in advance for your help.
Sincerely,
Ammelie Kuhn
Dear Mrs. Kuhn,
Thank you for your inquiry regarding the deadlines and steps to be followed when filing for insolvency. It is understandable that you are currently in a difficult financial situation and are looking for solutions to manage your debts. Filing for insolvency can be a sensible option in such cases to enable a fresh start.
First and foremost, I want to emphasize the importance of taking action early once you realize that you can no longer service your debts. Insolvency should not be postponed as it also shows a certain level of transparency and fairness towards your creditors.
The specific deadlines to be observed when filing for insolvency vary depending on the type of insolvency (private or business) and the state in which you are registered. However, the following deadlines generally apply:
1. Insolvency: As soon as you realize that you are unable to make due payments, you should act promptly. Insolvency is a crucial moment for filing for insolvency.
2. Three-week deadline: Following the onset of insolvency, you usually have three weeks to file for insolvency at the insolvency court. This deadline must be adhered to, as legal consequences may arise otherwise.
3. Obligation to file for insolvency: As a debtor, you are obligated to file for insolvency once you are insolvent or there is an impending insolvency. This obligation should be taken seriously to avoid further problems.
To properly file for insolvency, I recommend seeking advice from an experienced insolvency lawyer. They can provide comprehensive guidance and support you through all the steps. These steps include compiling all relevant documents, preparing the insolvency application, and communicating with creditors.
It is important to take the insolvency filing process seriously and adhere to all legal requirements to protect your rights as a debtor and achieve successful debt relief.
I hope this information is helpful to you and wish you success in managing your financial situation. If you have any further questions or need assistance, feel free to contact me.
Best regards,
Erwin Hausdorf
Insolvency Lawyer
