WHAT YOU NEED IN ORDER TO BE DECLARED BANKRUPT

Recognition of a physical person bankruptcy proceeds in the established procedural order. And its full compliance - is one of the guarantees of achieving the required result. For this purpose, it is strongly recommended as early as possible to obtain professional legal support - this will protect against possible errors and accelerate the passage of the entire procedure. It can be broken down into the following stages:

• Initially, a comprehensive preparatory work is required. It includes the preparation of all necessary documents, payment of state duty, payment of money to the account as a fee for the financial manager.

• Then the first court hearing is held. In its course, a decision is made on the choice of bankruptcy procedure - debt restructuring or realization of the debtor's property may be carried out.

• Here it should be noted that even in the absence of such property, this procedure is introduced, as only after it is possible to write off the debt.

• The next stage depends on what method of settlement of the situation was chosen earlier.

In this case, the appeal to the services of a lawyer for bankruptcy of individuals allows to minimize the participation of the citizen in the course of solving his problem. Such a specialist will undertake the execution of all tasks, interaction with creditors, the judicial authority and other participants in the process.

In addition, with a comprehensive approach, the lawyer will undertake and interaction with the financial manager - one of the key figures of the entire process.

REALIZATION OF DEBTOR'S PROPERTY AT AUCTION: WHETHER THE APARTMENT AND PROPERTY WILL BE PRESERVED

In most cases, the bankruptcy procedure is accompanied by the sale of the debtor's property at auction. Its list is necessarily attached to the application sent to the arbitration court, and is supported by documents confirming ownership rights.

• It will not be possible to hide the debtor's property - one of the main tasks of the financial manager is to identify and search for the property belonging to the debtor. Subsequently, if the realization procedure begins, the objects included in the bankruptcy estate are put up for auction, and the proceeds go to repay the debts of the individual.

• However, this does not mean that you will lose everything that belongs to you:

• the only housing of a debtor cannot be sold at auction;

• if you do not have the right of ownership of the housing in which you are registered, it is also not included in the bankruptcy estate;

• household and personal hygiene items are not put up for auction;
  
  BANKRUPTCY OF INDIVIDUALS AS A LEGAL DEFENSE AGAINST DEBT COLLECTORS

One of the main threats to the debtor are collection agencies, to which banks sell the right to demand repayment of money from the subject. After the adoption of anti-collector changes to the Legislation, citizens received some protection, but annoying calls can still continue.

The most effective way to protect yourself from such pressure is through bankruptcy proceedings. After the first court hearing, both banks and collectors are deprived of the legal right to make any claims against the debtor.

In addition, the beginning of the bankruptcy procedure implies the cessation of any actions aimed at collecting debts from the citizen. Consequently, all claims of collectors from that moment become illegal.

If they continue, the debtor has the legal right to appeal to law enforcement authorities. To do this, it is enough to provide confirmation of illegal actions of the collection agency:

• audio recording of a telephone conversation;

• a video recording of the collectors' visit to the house.

To help protect against their actions will help to address to experienced lawyers in the field of bankruptcy of individuals. Such specialists will help to choose the right line of behavior, obtain the necessary confirmations and evidence, etc.

AN IMPORTANT STAGE: PREPARING TO FILE THE APPLICATION

On how responsibly you approach this stage, the overall outcome of the case largely depends. The main task here is to collect and prepare the required documents:

• information about the debt;

• list of the debtor's property;

• information on transactions carried out over the last 3 years;

• statements of debit accounts reflecting the movement of funds for the last 3 years;

• information on income or lack thereof;

• information on dependents.

If there is no official employment at the moment, it is recommended to get on the labor exchange. The court will regard this as an attempt of a potential bankrupt to solve his financial problems, which will play in his favor. If there is no possibility of employment, it is necessary to provide appropriate confirmation.

It is also important to justify the purposes for which the borrowed funds were taken, the reasons for the inability to settle debts and provide evidence that the potential bankrupt tried to solve the problem.

Another important task is the choice of bankruptcy procedure. If the debtor has a stable and sufficient income, you can ask the court to apply debt restructuring. If there is no certainty that all debts in principle can be repaid, it is better to immediately declare the need to introduce a procedure for the realization of property.

Do not make mistakes already at the first stage will help to address to experienced lawyers specializing in bankruptcy of individuals. This will help to save not only time, but also money.