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August 25, 2016 23:10

How is the procedure of bankruptcy .The material is considered that such a bankruptcy restructuring process , required documents

Bankruptcy - the fact of the debtor's inability to satisfy the claims of creditors (the inability to pay mandatory payments).A person may declare such status on their own or with the help of the arbitral tribunal (important: the transformation of a solvent debtor insolvent occurs only after the decision of the arbitral tribunal).

Debtor in this case can be an individual or legal.a person who was unable to pay debts to creditors within the time limit that has been set by the law on bankruptcy (three months) under the pressure of circumstances.Lenders serve persons claiming the execution of monetary obligations (sometimes other commitments).Bankruptcy cases are resolved in court at the place of the debtor's location (perhaps on the location of the person or enterprise of residence).

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required for registration of bankruptcy documents

bankruptcy procedure begins with preparation.The first step is to establish their own financial affairs and to prepare documents for further processing.The application

will need to apply to the Arbitration Court with the documents, which confirm the existence of a difficult situation.

Documents required for registration of bankruptcy:

  • debtor's passport;
  • if the debtor is married, you must provide a copy of the certificate of its conclusion and the birth of children;
  • if contract marriage, you must provide a copy of it, and;
  • if a man divorced for more than 3 years, you must provide proof of this (if necessary, will also be required to provide documents on the division of property acquired);
  • need to provide documents issued by public bodies: a copy of TIN, copy SNILS to extract the personal account, the document on the presence or absence of PI status;
  • final documents contain information about the list of all the debtor's property, documents of title, copies of the amount of income for the last 3 months, information about the presence of a bank account, the amount of taxes withheld;
  • if shares - you need to provide an extract from the register of shareholders.

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What else you need to know to design

bankruptcy After the preparation of documents necessary to briefly describe the situation, because of which the person is no longer able to repay the debts.In the future, this information will be included in the bankruptcy petition.Bankruptcy procedure involves making an asset management restrictions.If a bankruptcy petition is accepted, the person will not be allowed to pay any debt (this prohibition also applies to the property, which was laid).Parallel to this, the court will appoint a financial manager who will monitor the receipt / issue of loans, guarantees, claims and rights, etc.

last group of documents are those associated with the debt (the impossibility of confirming payments on loans).You must also provide a list of debtors and loans, the necessary amount of their location.After collecting the documents it is possible to prepare a statement of recognition of a person bankrupt and need to fill in the form established by the Economic Development Ministry.

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restructuring

Before confirmation of the person bankrupt, is considered the restructuring plan proposed by the debtor, the creditor or other authorized body.Restructuring is a kind of compromise, which is useful for solving problems with money and the lender and the borrower.The basis of this plan takes the income of the debtor, from which, of course, be deducted the amount of accommodation.The remainder of the amount will be used to repay debt.Term of execution of the plan - not more than three years.

Reality shows that more than 90% of people will not bother to restructuring due to low income or lack thereof.Only with the help of professional lawyers, you can create a successful plan, through which it will be possible to avoid bankruptcy proceedings.