The personal bankruptcy procedure: This is how we proceed your case

Step by step to debt-free with personal bankruptcy

For private individuals, Attorney Debt Fighters carries out all the preparation for bankruptcy proceedings. From making contact with all creditors through to the complete preparation of your insolvency application including all necessary ancillary applications, we are at your side as specialist lawyers for bankruptcy law.

We also create a legal prerequisite for personal bankruptcy by completely carrying out an out-of-court debt settlement attempt for you and issuing the certificate according to § 305 as a "suitable body”.

All of our support is provided at a one-time flat rate, regardless of the amount of your debt.

When initiating a personal bankruptcy or check usda loan map, we proceed as follows:

1. Free initial consultation

Contact us with your debt situation. Describe your financial situation to us, this is an important psychological relief. The free initial consultation takes place by telephone, video consultation or as part of a personal appointment in our premises.

We will do a debt analysis for you and then advise you on the best course of action. Because depending on the amount of your debts, your income situation and your creditors, personal bankruptcy is not always optimal. In some cases, a debt settlement is quicker, or just bankruptcy is an option.

Following the free initial consultation, you can immediately instruct us to discharge your debt.

2. Identification of all creditors (cover letter from all creditors to avoid enforcement)

As soon as you have decided to use our personal bankruptcy support, we start with the thorough preparation. First of all, we will conduct inquiries with the largest credit reporting agencies. This step ensures that there are no creditors who you may not know about or who have been forgotten. We get the information according to § 34 BDSG from various legislation and with accordance with the constitution. 

In order to prevent further enforcements or to come before them, all of your creditors will be contacted by us and informed about the current state of affairs. In this way, the creditors find out about your current situation, which usually leads to them refraining from further contact, judicial proceedings or foreclosures. Because many creditors know that we, as a law firm specializing in bankruptcy cases, have already initiated many proceedings, they refrain from further action. Because they know that foreclosures will have no prospect of success.

In addition, a query is made to the debtor register at your place of residence.

3. Contacting the creditors (establishing your debt by querying all of your creditors)

In order to prevent enforcement, all of your creditors will be contacted by us and informed about the impending personal bankruptcy. The creditors find out about your current situation, which usually means that they refrain from further contact, legal proceedings or foreclosures. Because many creditors know that we, as a law firm specializing in bankruptcy cases, have already initiated many proceedings, they refrain from further action. Because they know that foreclosures will run with no prospect of success: Shortly before bankruptcy, foreclosures are ineffective and must be reimbursed for a fee.

In order to avoid a refusal to discharge the remaining debt, we conduct debt level inquiries with all creditors. On the basis of our inquiries, the creditors inform us of all current receivables as well as assignments, any willingness to renounce, change of representative or change of creditors.

This avoids the common problem that creditors themselves do not respond to inquiries from debtors.

We inform the creditors that a law firm has taken over your debt relief. Thus the creditors know that you are not “gambling for time” but that you are serious about debt relief.

4. Determination of the current debt level

A correct and complete list of creditors with the current amount of debt is a prerequisite for securely obtaining residual debt. Since the documents are not always up-to-date, we conduct debt level inquiries with all creditors. On the basis of our inquiries, the creditors inform us of all current receivables as well as assignments, any willingness to renounce, change of representative or change of creditors. This avoids the common problem that creditors do not respond to requests from debtors.

5. Out-of-court debt settlement attempt and issuance of the certificate according to § 305

A prerequisite for personal bankruptcy is a previous out-of-court debt settlement attempt. We regularly create a so-called zero plan; in which it is explained to the creditors that you cannot meet your claims at the moment. We direct this to your creditors and then evaluate them. This fulfills the prerequisite for an out-of-court debt settlement attempt. We will certify this to you as a suitable body in accordance with Section 305. 

6. Preparation of your application for personal bankruptcy

On the basis of all the data we have received, we will now prepare your application for personal bankruptcy. To do this, we take care of the so-called subsidiary proposals:

• The application for discharge of residual debt

• As well as the application for deferral of the procedural costs

7. Final consultation and further support

Experience has shown that further questions arise after the personal insolvency application has been created. That is why we hold a final consultation, during which we explain the further procedure to you and answer your questions.