How to declare bankruptcy to an individual and individual entrepreneur - the procedure for declaring an individual and individual entrepreneur bankrupt to creditors + legal assistance in bankruptcy

Hello dear readers of the Rich Pro business magazine! Today we will talk about how to declare bankruptcy to an individual and individual entrepreneur (IP), what conditions are necessary in order to declare bankruptcy in front of a bank.

From this article you will learn:

• How can a private person declare bankruptcy and what will it give him;
• What are the consequences of declaring bankrupt an individual and individual entrepreneur;
• How and what steps should be taken to declare yourself bankrupt;
• What could be a court decision in a bankruptcy case;
• And is it worth it to seek the help of professionals in declaring yourself bankrupt.

Also, at the end of the article, readers will find answers to frequently asked questions.

The financial side is one of the most important in life. That is why legal protection in this area is very relevant. In many cases, it is the bankruptcy procedure that helps to cope with a difficult situation.

About bankruptcy - what it is, what signs and stages this procedure has, we wrote in a separate article.

Therefore, the article will be useful to absolutely all individuals, as well as individual entrepreneurs. Features of recognition of citizens insolvent absolutely everyone should know.

It is important to understand that in the conditions of the economic crisis, even those who regularly pay their loans and manage their financial obligations can get into a difficult situation. Read more about the features of bankruptcy proceedings right now!

About how to declare / declare yourself bankrupt (physical person and individual entrepreneur), what conditions are necessary for declaring bankruptcy - read more about this and much more

1. How to declare bankruptcy in front of a bank, having refused debt - the legal side of personal bankruptcy 📎

Organizations have the right to declare bankruptcy in the Russian Federation for a long time. Moreover, for individuals, as well as individual entrepreneurs, such an opportunity has appeared recently - in October 2015.

The draft law governing the bankruptcy of individuals was discussed about ten years. All this time, it aroused keen interest among the population and was already adopted in 2014. However, its entry into force was delayed due to the need to consider several major amendments.

Another reason for this delay was the large number of expected applications from citizens. At that time, the court was not ready to handle with such an influx.

Despite a large number of difficulties, the law in question was adopted. As a result, private individuals got the opportunity solve your own financial problemsand also stop harassment of collection agencies.

In a sense, thanks to new amendments and changes to the legislative framework, every individual has a chance to start life from scratch.

1.1. Relevance and timeliness of the legislation on bankruptcy of individuals

Today, you can buy almost anything on credit. This is not only a very expensive property - apartments and cars, but also household appliances, telephones and other not too expensive things. At the same time, competition in the loan products market is very high.

A large number of banks, trying to lure customers to themselves, constantly simplify the procedure for obtaining loans. Today, a very substantial amount can only be obtained by passport.

On the one hand, this state of affairs has a beneficial effect on the economy: citizens can afford more, turnover is growing.

However, in times of crisis, as well as low financial literacy of the population, there are more and more situations when funds for calculating loans received lacks.

Statistics allow us to assess the extent of the tragedy of the situation. Nearly 15 million citizens of Russia (that is, every tenth) pay more than one loan. In the first half of 2018, the amount of overdue debt on Russian loans reached a record high and exceeded 19%. In monetary terms, this is about 37 billion rubles.

Experts estimate that approximately 1 out of 5 (five) borrowers do not make loan payments on time. This situation is observed for all types of loans - on mortgage, consumer, as well as car loans.

Not all Russian citizens are financially literate enough. Many people forget about the important borrowing rule - before taking a loan, you should carefully consider the possibilities of servicing it, and also take into account all existing risks.

As a result, a natural and completely laudable desire to improve living standards becomes cause significant problems.

The results of such irresponsible behavior in the financial part of life are always very unpleasant. Received income does not allow to pay the obligations undertaken in a timely manner and in full. Banks in this case charge finesand all kinds of penalties, and debt is growing continuously.

Even the fact that in connection with the onset of the crisis the growth in the number of new loans has declined, the amount of overdue payments remains very highbecause nobody cancels old debts.

The situation has become very critical: today a huge number of Russian residents have lost control over their finances.

All the above-mentioned circumstances forced the Russian government to take advantage of the experience of civilized Europe. In the countries located there, bankruptcy of citizens has been in effect for several decades.

1.2. What are the possibilities when assigning bankruptcy status?

Bankruptcy law allows citizens of Russia whose debt exceeds 500 (five hundred) thousand rubles, in the absence of the opportunity to settle accounts with the undertaken obligations, apply to the judicial authorities to declare bankruptcy.

However, in addition to bankruptcy, other ways to solve the problem are legislatively established:

1. conclusion of a settlement agreement between the lender and the borrower;
2. restructuring of existing debt.

The law applies to all citizens, including those registered as individual entrepreneurs. Not only the right to initiate bankruptcy proceedings the borrowerbut also lenderwhich he owes money.

Thus, the adoption of the bankruptcy law was very importantand expected. Most likely, in the near future the number of people who have used the right to declare bankruptcy will not run out.

At the same time, it is expected that most of the debts will be written off, and also for many citizens the best options for financial rehabilitation (recovery) will be found.

Possible consequences of declaring an individual entrepreneur and individual bankrupt

2. The consequences of declaring an individual and individual bankrupt

If an individual is declared bankrupt, all property belonging to him, which expensive 100 (one hundred) thousand rublesshould be sold through bankruptcy auctions within 6 (six) months. The sales process is led by a financial manager. He reports to the Arbitration Court on the implementation progress, as well as settlements with creditors.

When all property owned by the debtor is sold, the court recognizes the citizen as exempted from debt. Moreover, even in cases where obligations to creditors are not fully repaid, debts burn.

This is explained by the fact that there is nothing more to sell to the debtor. The result of the procedure is the recognition of an individual bankrupt and the closure of the relevant case.

Within 3 (three) years from the beginning of debt restructuring, a citizen shall not have the right:

• becomes the founder of a legal entity, as well as buying shares in any companies;
• carry out gratuitous transactions with property (this is possible only with the consent of the manager).

From the moment a natural person is declared bankrupt, the following restrictions apply:

1. Inability for five years to work in leadership positions.
2. Prohibition of any type of business.
3. The obligation, if you wish to get a loan, is to warn the bank about declaring bankrupt less than 5 (five) years ago.

In addition, a citizen may have difficulties traveling abroad. This restriction is usually removed after all property has been sold.

Everyone who decides to initiate a bankruptcy case should understand that a positive decision in this case will be a stigma on the reputation of an individual.

Credit organizations do not want to lend money to individuals which were declared bankrupt. Even if a loan is issued, interest rate will be at the highest levelsince your previous credit history will not be taken into account.

However, for citizens there are pros from declaring bankrupt. First of all, the positive point is that after the property is sold out, the persecution by creditors will stop. In this case, the debtor will cease to pester with calls, letters and visits.

As soon as a decision is made to declare the debtor bankrupt, the financial manager will send information about this to the relevant media. Moreover, a notification will be sent to each bank where the individual was the borrower.

A citizen will be in bankruptcy status for five years from the date of adoption of the relevant decision.

Thus, the bankruptcy procedure has a number of rather serious consequences. It is important to understand what they are, so as not to be in the future in an unexpected situation.

Bankruptcy conditions for an individual

3. Terms of declaring and declaring a natural person bankrupt - who initiates and decides

Today, most citizens have the opportunity to purchase almost any item, even without money for this. Moreover, rates today in Russia very high.

As a result, many borrowers have difficulty repaying existing loans. Often they try to solve such difficulties by issuing new loans to repay old ones.

Since the fall of 2015 those who have gained a large number of loans and are not able to pay them further have the opportunity to solve their problems by declaring themselves bankrupt. Relevant cases are being heard by the Russian arbitration court.

To date, bankruptcy proceedings have been introduced for almost six hundred thousand borrowers (the number continues to grow), which is about 1.5 (one and a half) percent of their total number. Also about 6.5 million borrowers have delinquencies of more than 3 (three) months. It is expected that they can also use the legal right to be declared bankrupt in order to solve financial problems.

In order for a citizen to have the opportunity to be declared bankrupt, a number of conditions must be met:

• the amount of debt for all obligations of an individual (for example, all types of loans, utilities and other payments) exceeds half a million (500 thousand) rubles;
• the delay period exceeded 90 days;
• citizen is insolvent.

It is important to understand what is insolvency. Lawyers put the following meaning into this concept: it is a financial status that manifests itself when, after making all the mandatory payments, a citizen has a sum of money that is less than the subsistence level.

3.1. Who initiates bankruptcy proceedings

Simply put, bankruptcy refers to a court proven inability of a citizen to pay his own debts. In this case, the initiator of the bankruptcy proceedings may be not only the individual or entrepreneur, but also directly to their creditors.

Most often, banks and other companies to which citizens owe money resort to this opportunity in cases where they suspect the borrower of a lie.

That is, in fact, the borrower has the ability to make payments for its own obligations, but for some reason does not want to do this.

Moreover, theoretically there is a possibility file for bankruptcy of a deceased borrower. In this case, the initiator may be relatives who have inherited debts.

3.2. Who has the right to declare bankruptcy

It is important to understand that the decision to declare a citizen bankrupt may be made arbitration court only. At the same time, its employees must prove evidence of insolvencyeither lack thereof.

In other words, in the case of filing an application, if a citizen wants to get bankrupt status, he will have to prove that he cannot pay for his own obligations.

The reasons why a citizen can refuse to pay off his debts can be a huge amount. Not all of them agree to satisfy the court.

All reasons for refusal of cancellation can be divided into:

• objectivewhich do not depend on the borrower, for example, the crisis period in the country;
• subjective- reasons depending on personal life circumstances, for example, illness, dismissal, loss of money as a result of the collapse of a business.

If a citizen wants to be declared bankrupt, he must understand that within 5 (five) years he is unlikely to be able to get a new loan. On the one hand, this leads to the impossibility of acquiring expensive things, on the other hand, it is hardly possible to get into new debts.

Citizens should be as conscious as possible about solving financial problems. It is important not only to make the right decision, but also to analyze the possible consequences of the development of events.

Procedure for declaring yourself bankrupt

4. How to declare bankruptcy to an individual - step by step guide

Those who wish to declare bankruptcy will have to go through a series of steps. Only this will help get rid of debts. But do not forget that becoming bankrupt is not so easy. Even if the court ruling will be positiveIn any case, you will have to pay off your obligations in any way.

The calculation will be made as long as the debtor has any property movableand immovable.

All assets of the bankrupt that represent any value.

Only limitation - it will not be possible to take away the only housing owned by the debtor. (But it is proposed to introduce amendments to the law where they will be allowed to sell the only housing of the debtor and purchase cheaper, thus making the "not sale" of residential real estate, but its "replacement".

Therefore, one should not hope that bankruptcy will become a painless and successful solution to financial problems. For the most part this is only deferred settlement of own liabilities.

True bankruptcy can be a great way to remove psychological pressure, as well as eliminate claims from collectors.

As for the procedure for declaring a citizen bankrupt, it is carried out in several consecutive steps.

Step number 1. Registration of a package of documents

The first stage of bankruptcy proceedings is the collection of necessary documents. It should be remembered that a declaration of bankruptcy is far from the only necessary document.

The full package of all necessary papers is quite impressive, traditionally it includes:

• identity documents, as well as citizen status - passport, birth certificates of all children, as well as marriage;
• if the debtor filed a divorce, in addition to the relevant certificate, documents relating to the division of property will be needed;
• TIN certificate;
• statement of the personal account of the taxpayer;
• a document confirming registration (or its absence) as an individual entrepreneur;
• papers confirming financial viability - income statements for the last 3 months, as well as in the absence of a job, a document from the employment service;
• documents relating to citizens ’obligations - a list of creditors, certificates of outstanding amounts, arrears;
• medical papers - certificates of disability, illness, sick leave and other;
• papers on guardianship as well as availability of dependents;
• information about the property of the debtor.

Important! Indicate in the application all available data confirming the fact of bankruptcy.

The application must be submitted to the Arbitration Court (in person) by registering it with the office. You can download the application for declaring the debtor bankrupt (sample) here.

Sample application for declaring a debtor bankrupt (.docx, 17.8 kb.)

After preparing the necessary documents and filling out the application, you can proceed to the next step.

Step number 2. Transfer of documents to court

When the application is prepared and the entire package of necessary documents is collected, you can contact the arbitration court. In this case, it is important to decide which department should go.

There are several options:

• at the place of current registration;
• at the last registration address;
• in the area of ​​actual residence at the time of going to court.

Judicial authorities should be prepared as carefully as possible. This will avoid various bureaucratic delays and resolve the matter as soon as possible.

If you who decide to become bankrupt do not have the time and desire to do this procedure yourself, you can trust professionals. In this case need to issue a power of attorney, which should be information about the authority of the proxy. It should be indicated whether it has the right to represent the interests of the debtor in court, to submit all necessary petitions and applications. If the authority is fully delegated, the borrower himself will not have to worry about anything.

There are several ways to file documents with the judiciary:

• personally;
• through mail;
• through a trustee;
• using the court site.

When all documents are submitted, the work of the judiciary begins. Their tasks include to proveor disprovethe fact that the debtor is not able to pay his own obligations for any reason.

To this end, court staff verify whether citizen’s desire to become bankrupt. At the same time, it is mandatory to ascertain whether the applicant has not been carried out in recent years major property transactions.

This is especially true of donating real estate, as well as closing bank accounts, followed by depositing funds in the name of relatives.

It should be remembered that any attempts to hide the presence of any property are fraught with all sorts of troubles. It could be like penalties (administrative liability)and imprisonment (criminal liability).

Step number 3. Arrest of debtor property and appointment of an arbitration manager

As soon as the court opens a record-keeping procedure for declaring a citizen bankrupt, an arrest is imposed on his property. Besides judicial authorities appoint a financial manager.

Functions and importance of arbitration (financial) managers

The main functions of financial managers are:

1. control the financial condition of the defaulter;
2. communicate with creditors;
3. if possible, draw up a debt restructuring plan;
4. if a citizen is declared bankrupt, evaluate and sell his property.

The debtor should understand that the disposal of his property as a whole carried out through an arbitration manager. Therefore, any transactions with assets that will be completed without the participation of the designated controller will be declared invalid.

The financial manager carries out his work for a certain fee. Usually it consists of a fixed part (from 10 (ten) up to 25 (twenty five) thousand rubles) and an additional bonus of 2% of the amount paid to creditors.

For a better understanding of the features of each step of the bankruptcy proceedings, they are described in the table below.

Guidelines on how to make IP bankrupt - the necessary conditions and consequences of declaring IP bankrupt

5. How to declare (recognize) IP bankrupt - conditions and reasons for declaring bankruptcy

Individual entrepreneurs are equated with individuals. Therefore, the procedure for declaring them bankrupt is carried out in accordance with the same steps as for citizens. However, there are some differences.

The main difference concerns the package of documents provided. In addition to the list relating to the ordinary citizen, SP must submit:

• certificate of state registration of an individual entrepreneur;
• extract from the USRIP;
• certificate of making payments to the budget (taxes).

In a crisis, many entrepreneurs find it difficult to stay afloat, not slide into losses.

Most often, ruined entrepreneurs in such a situation either close the IP, or plead bankrupt. The article "How to close the IP yourself" we wrote in a separate article.

Those who have been operating on the market for a long time usually have professional lawyers or regularly consult with such specialists. Therefore, they often do not have difficulties with declaring bankruptcy.

Like a citizen, an individual entrepreneur must apply to the Arbitration Court and go through bankruptcy proceedings. Only then can debts be written off.

Important to remember, that not only the entrepreneur, but also his creditors have the right to initiate the recognition of insolvency procedures.

You can apply in the following cases:

1. the amount of debts exceeded 300 (three hundred) thousand rubles;
2. payments on obligations are not carried out more 90 days;
3. delayed wages.

As in the case of bankruptcy of an individual, an arbitration manager is appointed to the entrepreneur.

It is he who becomes the central figure in the court case and performs the following functions:

• drawing up and monitoring a debt restructuring plan;
• participation in court hearings;
• negotiations on a settlement agreement.

In addition, the financial manager is required to find out why the activities of the entrepreneur have become ineffective.

The reasons for this situation can be:

1. the entrepreneur lacks the necessary knowledge and professionalism;
2. incompetence of hired employees;
3. incorrect pricing policy;
4. low competitiveness and other factors.

Thus, the procedure for declaring an individual entrepreneur bankrupt practically does not differ from this process for citizens.

6. What may be the decision of the court (settlement, restructuring, declaration of bankruptcy) ⚖

After receiving the relevant application, together with the package of documents, the court begins the proceedings on declaring the citizen bankrupt.

The outcome of the trial may be one of 3 (three) decisions:

1. settlement agreement;
2. debt restructuring;
3. assignment of official bankruptcy status to a citizen.

Consider each solution in more detail.

6.1. Settlement agreement

An amicable agreement is concluded if the debtor and the creditor agree to resolve the financial dispute on certain conditions.

For example, some microfinance organizations in which the percentage is prohibitively high agree to stop prosecuting the debtor if they pay half of the debt.

In many cases, it is a settlement is the best option for both sides. However, not all cases end with an agreement.

In this case, the court may decide to restructure the debt or declare the citizen bankrupt.

6.2. Debt restructuring

Key features in a debt restructuring process fall on the shoulders of the financial manager. It is he who, after a thorough analysis of the debts and the financial situation of the citizen, draws up a new possible repayment plan. After that, the manager submits it to the creditors.

The procedure for developing a new debt repayment plan is called restructuring.

The main objective of this process is to improve the finances of the borrower, at least partial restoration of its solvency. Ideally, a restructuring plan should be developed in close collaboration with the creditor and the debtor.

There are several basic options for debt restructuring:

1. reduction in monthly payments;
2. increase in debt repayment period;
3. credit vacation announcement - postponement for several months when debt repayment is not carried out.

Restructuring usually suits both sides of the process. The debtor has a chance to pay off the debt in accordance with his financial capabilities. Moreover, after the adoption of the restructuring agreement interest and fines accrual ceases.

Creditors such a decision is also beneficial, in contrast to the situation when the debtor is declared bankrupt, and his debts are completely written off.

When restructuring, creditors have real chance sooner or later to return the amount transferred in debt.

The implementation of the plan developed by the manager during the restructuring is carried out during 3 (three) years.

For this period, the seizure of the property of the debtor is removed, however a number of restrictions are imposed on the legal rights of a citizen:

1. It is forbidden to become the founder of companies.
2. Not allowed to buy shares in the business.
3. A ban on the implementation of gratuitous transactions.

In any case, during the period of debt restructuring, a citizen will have to absolutely all operations associated with large sums of money, coordinate with the financial manager.

The debtor should know that not everyone can count on restructuring. The condition for its implementation is constant income. Moreover, the amount received should be sufficient not only for making payments stipulated by the developed plan. Part of the funds should remain for the debtor to live.

6.3. Bankruptcy of an individual (IP)

In cases where the conclusion of a peace agreement, as well as debt restructuring impossible, the court may decide on assigning a citizen bankruptcy status. In this case, further actions will be the sale of property owned by the debtor. They may even decide to sell part of the apartment owned by the spouse and acquired together.

However, not all property can be sold.

Not subject to implementation:

• an apartment, which is the only housing (an exception is if it is a mortgage loan. It is also possible to sell an existing one and buy a cheaper one);
• personal items;
• the land on which the house is the only housing;
• household items;
• fuel intended for heating housing;
• livestock as well as pets;
• official winnings and prizes;
• state awards.

In addition, before the end of the procedure for selling property at auction, the debtor not entitled carry out any operations with seized assets.

Also, the debtor does not have the opportunity to travel outside of Russia until it is declared bankrupt (this decision can be challenged in court).

Thus, court decisions on declaring bankrupt in case of bankruptcy proceedings of an individual or entrepreneur may be different. It all depends on the circumstances of a particular case, as well as a large number of nuances.

In some cases, the only way to solve financial difficulties is to recognize insolvency.

7. Legal assistance for bankruptcy professionals 📎

Bankruptcy- the question is very complex, not everyone can figure out all the features and nuances on their own. Anyone who wants the court decision to be as profitable as possible for him can be advised to turn to professionals for help.

Announcements with offers of assistance in conducting bankruptcy proceedings today are quite numerous. In such situation the main thing make no mistake with the choice. The leaders in the field of bankruptcy proceedings, experts call several companies.

1) National Bankruptcy Center

The presented company operates in most regions of our country. Help is provided by highly qualified specialists with legal education.

Employees of the company help to prepare documents, as well as the corresponding statement. Moreover, subsequently they conduct the business of the client until the desired result is achieved.

2) All-Russian Bankruptcy Service

The head office of this company is located in Moscow, branches are distributed throughout Russia. For the convenience of customers, online consultations are organized.

Specialists recommend contacting those who want to solve the bankruptcy problem as quickly as possible. Provide services and bankruptcy of legal entities.

3) STOP collection

The staff of the represented company has its own arbitration managers. The company offers those who wish to undergo bankruptcy the best ways to overcome financial problems.

The company has been operating in the market for a long time. During this time, she has earned a favorable reputation, so you can safely contact here.

4) Legartis

This is the so-called legal support center. They offer help, as well as advice from professional lawyers on absolutely all issues related to bankruptcy. Employees of the company develop an individual approach to each client.

Having carefully understood all the nuances of each particular case, specialists will develop the optimal solution even in those situations that seem very complicated and unusual.

5) Lawyer consultation

This company will help get rid of all debts in an absolutely legal way. Clients have repeatedly been convinced of the reliability of the represented company. Moreover, before setting a fee for their own services, in the company is free advise everyone who applies.

Thus, those who wish to declare themselves bankrupt as much as possible quickly and profitablyIt’s best to turn to professionals for help. They will help solve problems as efficiently as possible.

8. Answers to frequently asked questions

Those who decide to initiate bankruptcy proceedings inevitably have a huge number of questions.So that you do not have to look for answers to them, studying a huge amount of information, we tried to answer the most frequently asked of them.

Question 1. Can I get a new loan if the court assigned me bankrupt status?

Theoretically, nobody takes away the right to get a new loan from you. However, keep in mind that during 5 (five) years from the moment a bankruptcy decision is made bankrupt, the potential borrower must inform the creditor.

Even after the expiration of this period, a person who has gone through bankruptcy will not easy to get a new loan. Most credit institutions believe that in this case, the risk of non-return of funds increases significantly.

Even if you still manage to get a loan, you should not count on preferential interest rates. The fact is that after a citizen is declared bankrupt, a favorable credit history burns out.

Question 2. I was fired during the layoff. Can I declare myself bankrupt?

Often during the reorganization or liquidation of the company, employees are invited to write a letter of resignation of their own free will.

Important! Do it not worth it, especially if you plan to file for bankruptcy. The court considers such actions as a deliberate deterioration of their own financial situation.

At the same time, dismissal due to downsizing on the contrary into the hands of a citizen. It means a decrease in solvency for reasons beyond the control of the debtor.

In this case, most likely, the case of declaring bankrupt will be resolved as soon as possible under the best conditions for the debtor.

Question 3. I live in a mortgage apartment (this is my only home). There is no way to pay a loan now. If you declare yourself bankrupt, what will happen to this apartment?

An apartment bought in a mortgage is a guarantee on a loan. If the debtor has a desire to declare bankruptcy, the bank is entitled to withdraw the apartment, which is a pledge.

At the same time, it can be sold at auction, even if it is the only housing.

In the indicated case, the borrower will have to decide whether to continue to pay the mortgage or move to another place.

The debtor should understand that when selling property at an auction, he much less money.

Therefore, it is quite possible that instead of declaring yourself bankrupt, it is better to try to sell the apartment yourself (We wrote about how to quickly sell an apartment in a separate article).

In this case, the borrower is independently looking for a buyer who pays the rest of the debt on the mortgage, and transfers the remaining amount directly to the debtor.

It is possible to solve the problem in this way if the situation is agreed in advance with the bank.

This also includes the issue with the car (that is, try to sell it). We recommend in this case to read the article - "How to sell a car quickly and expensively."

Question 4. If I am declared bankrupt, will the debt for child support be written off?

It is important to understand that even if a citizen is declared bankrupt, he will not be released from payment of a number of obligations:

• on alimony;
• for compensation for moral damage;
• for inflicted physical harm.

This applies to both current debt and one that will arise in the future.

9. Conclusion + video on the topic

Thus, recently, each individual, as well as an individual entrepreneur (individual entrepreneur), has the opportunity to declare bankruptcy. It is important to understand that recognition of a citizen as insolvent can be very difficult. Such a solution is far from always beneficial.

That is why experts advise resorting to bankruptcy proceedings only in cases when other solutions to financial problems not exist.

It is important that before filing an application for declaring a debtor bankrupt with a court, it is important to carefully analyze all the possible consequences of such a decision. Moreover, it is worth deciding how much this burden will be feasible even before applying for a loan.

If you still have questions about the bankruptcy of individuals and entrepreneurs, how to fill out an application, where to download laws and documents on bankruptcy, you can read the article here.

In conclusion, we recommend watching a video where the arbitration manager tells how to declare bankruptcy:

And the video, how to become bankrupt to an individual (IP) from StopCredit company:

The team of Rich Pro magazine thanks for the attention to this publication! We wish our readers to avoid financial difficulties and learn how to correctly assess their solvency.

If you have any comments or have questions about the topic, then ask them in the comments below.

Watch the video: How Bankruptcy Really Works. AJ+ (December 2024).