| 01 | bank loans |
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Important!
An attempt to transfer property to other persons through bankruptcy does not protect it from the procedure. An individual is also required to provide the court with declarations for 3 years, including the property of family members, even ex-spouses, if 3 years have not passed since the divorce. If the court comes to the conclusion that the financial situation of the debtor and his family allows to repay the debts, it can reject the request for bankruptcy.
An attempt to transfer property to other persons through bankruptcy does not protect it from the procedure. An individual is also required to provide the court with declarations for 3 years, including the property of family members, even ex-spouses, if 3 years have not passed since the divorce. If the court comes to the conclusion that the financial situation of the debtor and his family allows to repay the debts, it can reject the request for bankruptcy.
Consequences of bankruptcy status for an individual
Recognition of a natural person as bankrupt is accompanied by the following restrictions:
| 01 | it is prohibited to file for bankruptcy within 5 years if the debts from the previous bankruptcy have not been repaid |
| 02 | the obligation to notify the other party in writing during the conclusion of loan agreements, credit agreements, sureties or pledge agreements about financial insolvency within 5 years |
| 03 | inability to be considered a person with an impeccable business reputation for 3 years, which may affect the possibility of occupying certain positions |
In addition, during the first 120 days after the bankruptcy begins before it is declared or closed, restrictions may also be imposed on the individual. These restrictions include:
Ban on bail
Prohibition on entering into loan or life support contracts, as well as transfer of debts
Restrictions on the sale of property whose value exceeds 10 minimum wages
In addition, the court can establish other restrictions, such as a ban on traveling abroad or seizure of property, as well as restrictions in the field of concluding contracts.
IMPORTANT!
*The cost of services within the limits is determined individually, taking into account the specifics of your problem and upon agreement with the Client.
The bankruptcy procedure is relatively complex and lengthy. Although it is theoretically possible to conduct it independently, in practice many people prefer to entrust this matter to lawyers.
Lawyers of the "DIPLOMAT" Bar Association will provide you with reliable protection and build an effective strategy for solving your issue.
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