Situations of over-indebtedness that make a file receivable
It is not enough to find yourself in great financial difficulty for the debt commission of the Bank of France to qualify your application. Indeed, this remedy meets strict rules.
A long and complex process
Appealing will take time.You will need to accurately answer many questions and gather all the vouchers to prove the state of your financial situation. So expect a real obstacle course.
Before mounting an over-indebtedness file
Step one: meet your creditors
If you have monthly loan payments that can not be settled and you are registered in the National Credit Reimbursement Incident File (FICP), be aware that the first contact to meet is your bank. Remember, if you have a debt to it, they owe it to you. Clearly, its interest is that you are able to repay it.
The debt restructuring broker
If the negotiation fails and you find yourself in litigation with your banker, you can try to contact a broker to buy credits. These are legions on the internet, but you will have to sort them out.
Serious professionals are not so numerous. In addition, many of them take advantage of the distress of their customers to charge exorbitant fees. In short, distrust!
We advise you to favor national brokers who have proven themselves and deal with a large volume.
Finally, if these attempts are unsuccessful, you will have to mount a file with the debt commission and hope that it is acceptable.
Constitute the file
Any employee residing in France who is unable to pay his or her non-professional debts (expenses, monthly loan payments, invoices, etc.) may go before the board. Independent professions (craftsmen, traders, etc.) must follow another procedure, even if their debts are personal.
You can download the documents directly on the Banque de France website or move to the branch of your department.
At this point, you will check that this is not an easy task. Moreover, it is not by filling in your file that you will know if it is admissible. For this, it will be necessary to wait for the end of the procedure to know the decision of the commission of overindebtedness.
When your application is constituted, you must deposit it in the agency of your department by attaching an explanatory letter in which you will give the reasons which lead you to seize the commission.
Our advice : do not file an incomplete file . Always wait until you have all the pieces to join.
The decision of the commission
In addition to its advisory mission, the commission aims to help you find solutions. However, she will not necessarily declare you in a situation of debt distress . You will then – if you have not already done so – immediately enter the payment incident file.
If the decision decides that you are in debt distress, your file will be said: “admissible”. In this case, the commission will contact all the organizations with which you have incurred a debt to try to find an amicable solution .
- Are you patient?
- Remember to report to the commission any change in your situation.
- Do not aggravate your situation by contracting other debts.
The choice of solutions obviously depends on the situation in which you find yourself. If your finances allow a spread of unpaid debts, then the commission will propose to your creditors a new payment schedule by staggering the debts according to your current debt ratio and your repayment capacity. It will also try to propose readjusting rates.
At the extreme, if no amicable agreement can be found, the commission may, with the assistance of a judge, impose a solution on both parties. And if your financial situation is really inextricable, she will have to initiate a personal recovery procedure .
If it is accompanied by a judicial liquidation, all your property will be sold (with the exception of those deemed essential: bed, table …). If the judge grants it, all your remaining debts after the liquidation can be erased.
If the procedure fails to say that your file is “inadmissible” – you can only rely on yourself and the sale of personal property is unfortunately an end to which many homes are forced.
Our articles on the same subject
- The advantages of a loan abroad
- The actual costs of an unauthorized overdraft
- What to deal with the refusal of loan from the bank
- The joint and several guarantee and its legal consequences
- Prepaid bank card for over-indebted people