Personal Bankruptcy and Debt Restructuring


Questioner

Good afternoon, Is it true that if you incur new debts or fail to meet your agreements during debt restructuring, you will be declared personally bankrupt? Can you also apply for this yourself and is this wise? M fr gr

Lawyer

A personal bankruptcy is not a good thing because after closing you are not left with a clean slate. The creditors may hold you liable, the debts remain unless an agreement is reached on all debts. Debt restructuring is better.

Questioner

Thank you for your answer.

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