Germany
Maximilianstr. 280539 München
Germany+49 89 4444 373-20
Kanzlei Verbracken & Partner
Personal insolvency: routes out of debt
Personal loans, failed self-employment or personal liability: the right route starts with a complete overview.
Consumer or ordinary insolvency?
German law distinguishes procedures by economic activity and the structure of claims. For formerly self-employed people, creditor numbers and employment-related claims are particularly relevant. A consumer insolvency application generally requires a failed out-of-court settlement attempt supported by the required certificate.
Duration and duties
For a first discharge, the regular assignment period is generally three years from opening proceedings. Preparation adds time. Complete disclosure, work-related obligations and other statutory duties remain essential. Not every debt is discharged; section 302 InsO contains exceptions.
Compare domestic and international routes
Foreign proceedings are not simply a price or timing decision. Centre of interests, family, work, costs and recognition must fit together. We assess your actual situation first, then compare realistic options including creditor settlements.
Your situation deserves a clear next step.
We assess your circumstances personally and involve the appropriate professionals for legal and tax questions.