What happens to my current contracts in the event of insolvency?
March 14, 2022 | 30,00 EUR | answered by Helma Beck
Dear bankruptcy lawyer,
My name is Paul Hohenwarter and I am in a difficult financial situation. Due to economic problems, I am forced to file for bankruptcy. Now I am concerned about what will happen to my current contracts in the event of bankruptcy.
Currently, I have various contracts in place, such as rental agreements, mobile phone contracts, insurance contracts, and subscriptions. I wonder if these contracts will remain valid or if they will be terminated due to my bankruptcy. It is particularly important for me to know if I still have to pay my rent and if my mobile phone contract will be maintained.
My main concern is that after bankruptcy, I will be left without a home or without the ability to be reachable. Therefore, I ask for your help to understand the impact of my bankruptcy on my current contracts and to find solutions to secure my basic needs.
I thank you in advance for your support and am ready to provide further information or documents if necessary.
Sincerely,
Paul Hohenwarter
Dear Mr. Hohenwarter,
Thank you for your inquiry regarding your current contracts in connection with your insolvency. In such a difficult financial situation, it is understandable that you are concerned about how your insolvency will affect your contracts and how you can secure your basic needs.
First and foremost, it is important to understand that your insolvency does not automatically result in the termination of your current contracts. Most contracts remain in place even in the event of insolvency, as long as you continue to fulfill your obligations. This means that you must continue to pay your rent to keep your apartment, and your mobile phone contract is not usually automatically terminated.
However, creditors may try to terminate contracts as part of your insolvency proceedings. In such cases, it is important that you know your rights and seek legal assistance in a timely manner. As a bankruptcy lawyer, I am here to assist you in reviewing your contracts and helping you enforce your rights.
When it comes to securing your basic needs, there are various options such as applying for government assistance or renegotiating your contracts taking into account your financial situation. It is important that you take action early and seek professional advice to clarify your situation and find possible solutions.
Feel free to contact me to schedule a consultation for your online appointment. Please provide me with all relevant information and documents so that I can assist you as effectively as possible.
I hope that this information has been helpful to you, and I am available to assist you with any further questions.
Sincerely,
Helma Beck, Bankruptcy Lawyer
