Self filing for bankruptcy

Miscellaneous FancyThief December 9, 2016 1 9
When you see that your business is going to bankrupt it is best to apply the bankruptcy itself. This is to prevent you can later be held personally liable by the courts. In recent years, the number of bankruptcies in the Netherlands rose sharply. The main reason is the credit crunch. You can apply for a bankruptcy with the court. If it lasts in your application is designated a receiver. Read all about it in this article. In response to the credit crisis, the number of applications has increased dramatically for bankruptcy. A thousand entrepreneurs went bankrupt. In October 2009 for example, there were already 42 percent more applications for bankruptcy than in October 2008. In the period that followed there was still talk of a sharp rise. The main reason was simply that most entrepreneurs financially could no longer strongholds. A large part of their income often fell from one day to the other way. Many entrepreneurs are also vulnerable because they ran themselves into debt. Banks were also plenty of them contributed. Also, many banks themselves had a hard time. Therefore they were more restrictive as regards the repayment of debts. In some cases, they pulled himself unplug after companies even fail to meet their obligations. If a company goes bankrupt, this will have consequences for other companies. Firstly, because they lose revenue because the company goes bankrupt no products decreases. Therefore, they walk so of income. The second reason is that companies sometimes quite large debts can have outstanding at another company. If the company goes bankrupt so that they can forget their money.

When should I apply for a bankruptcy?

In most cases, bankruptcy is initiated by creditors. In many cases the banks, but it may also involve other companies. They do this usually when a company has not made its payment obligations over a longer period. It seems strange then to apply for bankruptcy, because you would think that if a company can get his money if another company goes bankrupt. However, this may not always be so. Sometimes, there are still quite a lot of money in the business are going bankrupt, but that can not be used directly. This could be for example because it does not involve cash. The money may be based on stone. A curator always allows for the handling of bankruptcy and looking if there's still money to be distributed among the creditors. They can decide to sell the building or the grounds of the company. Sometimes certain machines or user objects also pose quite a lot. That way, creditors can sometimes recover a substantial portion of their money. Among the creditors are secured creditors and non-preferential creditors. The preferential creditors take precedence when they want to reclaim their money. A good example of a secured creditor may be for example the bank or the government. Lots of things are usually sold by auction.

Petitions for bankruptcy

It is also possible to apply for your own bankruptcy. This can happen when you yourself see that it is hopeless to try to get back on top. Sometimes even the best. A judge can an entrepreneur or manager because personally responsible if they know that his business is ultimately not going to make it, but enters into purchase commitments. In this case, the fault can rise very fast. If your creditors do not request it, then you would do well to do it yourself. So do not stab your heads in the sand.

Self file for bankruptcy in court

You can apply for bankruptcy to the court. Through the site you can see which court will take you. This is often tied to a region. You do not necessarily have to hire a lawyer when applying for bankruptcy. Sometimes that however well recommended. You can apply for bankruptcy for a sole proprietorship, but also for an unnamed company, foundation or example. You must then hand over documents to the court showing that you are no longer able to meet your obligations. The court will then invite you in court and orally hear the case. If the judge meegat the application must be appointed an administrator there. That usually happens instantly.