Escaping creditors: becoming insolvent.On August 3, 2019 by Joel Simmons
To avoid having to pay his debts,
One can organize his insolvency voluntarily. But it’s forbidden by the law. There are other ways to escape creditors.
Provoking one’s own impoverishment in order to escape the creditors is not necessarily a good solution..
No need to think that there is a flawless method of not paying off debts. Morally, a person should always repay what they owe. Legally also by the way, even if the fraudsters are numerous, unfortunately.
One can establish a ” declaration of insolvency notorious”, deposited by the indebted person. This statement is distinct from the ” cessation of payments “: the declaration is rather reserved for those who have absolutely nothing to repay even by selling their property, while the cessation of payments is rather for those who have no more liquidity.
If you are insolvent, considered as such by a judge, you no longer have to repay your debts. It’s a miracle solution for not paying what you owe.
To obtain “official” insolvency,
One must go through a court, and a judge, who will study the situation carefully. From there, the debts are repaid with the sale of the seized property of the person in over-indebtedness. If the sale is not enough to pay everything back, the creditors will not be able to recover the missing money. In addition, the insolvent person is stuck at the Bank in France: she can not make credit for several years.
We understand that it is better to be able to pay off debts than to be put in the process of personal recovery: even if we are legally no longer anything, we also have nothing left. We have to start from scratch. This is not an enviable situation unless it was fraudulently provoked, as we will see.
It is better, however, to take the lead in case of very big concern to pay its debts, as I explain it in the article “incident of payment”. We must prevent rather than heal, we must warn the creditor that we can not pay his debt, and try to find, together, a solution. To make the ostrich, to wait to go through the court then the visit of the ushers is not a solution: the debtor will have to pay all and more, the legal expenses being with his load.
- Make a credit by being registered with the Bank
- How to get rid of the Bank
- Make a repurchase of credit by being stuck at the Bank of France
For there to be an offense, the court must prove that the fraudster knew that he could be ordered to pay (alimony, compensation.) and that he voluntarily organized, knowingly, his insolvency. This is not easy, especially if this “organization” is old, well before its obligation to pay. The most fragile people, for example the ex-wife waiting for alimony to feed the children, we too often struggle to assert their rights: here, do not hesitate to ask for help free of charge.
For those who, despite everything, would be tempted to organize their insolvency, be careful: the punishment is heavy, both socially and financially. In addition to no longer possessing anything (confiscation), you condemn your relatives who have walked in the scheme and risk prison.