individual bankruptcy in belgium

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Member since 02 April 2017

Imran choudhryActive member23 August 2019 13:15:17

hi everybody. i want take advise from anyboday if someone have experience .my one friend take crefit card amount of 9000 euto.he use money 6500 for some expensive. now from 4 month he loose job and take unemployment. so h cant pay credit amount from 4 month becuse he have four child thats y he have not enough money to pay. can any boday telll me what he can do now or if he declare bankruptcy then what effect on him or his family wages. thanks

phipiemar VIP Member

Member since 01 May 2013

phipiemarVIP Member23 August 2019 14:06:35

4733

A declaration of bankruptcy will not change the situation. Either he asks for a monthly plan to clear his debt and does the right thing. Or a bailiff will come to confiscate everything that the law allows. One must never forget that borrowing money costs money. And even more with a credit card ...

phipiemar VIP Member

Member since 01 May 2013

phipiemarVIP Member23 August 2019 14:58:46

4733

No other choice

Currylover Serial expat

Member since 06 August 2016

CurryloverSerial expat25 August 2019 21:31:55

272

Personal bankruptcy is not possible.

Currylover Serial expat

Member since 06 August 2016

CurryloverSerial expat25 August 2019 21:33:34

272

The excuse not to pay is pretty feeble too . Go see CPAs for debt repayment

phipiemar VIP Member

Member since 01 May 2013

phipiemarVIP Member26 August 2019 07:51:42

4733

Currylover wrote:
Personal bankruptcy is not possible.

Hi,

There is a possibility via the CPAS. But with very strict access conditions and passage in front of the judge.

And if it is accepted, all the financial income of the person is seized by the CPAS who then pays the debts and leaves a minimum vital for the person ... This tutelage of the CPAS can last for years and is very very hard psychologically...

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