Resolving a personal debt crisis: your route out of bankruptcy
Resolving a personal debt crisis: your route out of bankruptcy
Focus: remain calm, meet deadlines, safeguard your livelihood.
Bankruptcy opened? Act now — the appeal deadline is running
Urgent bankruptcy opening and appeal (Art. 174 SchKG): Receiving a bankruptcy judgment is a shock, but in many cases the decision is not yet final. Every day now counts: a strict deadline of just 10 days to lodge an appeal starts when you receive the judgment opening bankruptcy. In a timely appeal, we request suspensive effect to halt bankruptcy provisionally, prevent realisation of your assets and safeguard continued work. The appeal also presents arguments specific to your case demonstrating solvency, with the aim of having bankruptcy definitively set aside.
Revocation of bankruptcy (Art. 195 SchKG): If the 10-day deadline has already expired, we examine options for revocation of bankruptcy to end proceedings early through repayment of claims or agreements with creditors.
Debt restructuring and personal bankruptcy: Are you in a serious debt crisis, but bankruptcy has not yet been opened against you, or you are not subject to ordinary bankruptcy enforcement? We provide preventive support for out-of-court debt restructuring or work with you to prepare orderly personal bankruptcy (Art. 191 SchKG) for a financial fresh start.
We review your documents promptly, meet your statutory deadlines and develop an effective strategy for your financial future.
Answers to your questions
How much time do I have to appeal the opening of bankruptcy?
Generally ten days from service of the bankruptcy decision. Calculation of the deadline and service must be checked carefully. An appeal does not automatically halt bankruptcy; suspensive effect must be separately requested and granted.
Can a final bankruptcy decision be revoked?
Under the statutory conditions, revocation is possible before distribution is completed, for example upon proof of repayment of all claims, the required withdrawal declarations or a confirmed composition agreement. Payment of a single creditor is not automatically sufficient.
How does personal bankruptcy work in Switzerland?
A declaration of insolvency may lead to bankruptcy under the statutory conditions. Costs and prospects of debt settlement must be examined. Bankruptcy does not provide a general discharge of debts; certificates of shortfall and later debt enforcement remain important in practice.
What is the difference between debt restructuring and personal bankruptcy?
An out-of-court restructuring relies on agreements with creditors. Bankruptcy is a judicial enforcement procedure involving realisation of assets and further consequences. Which solution is viable depends on income, assets, debts and costs.
Are bank accounts frozen after bankruptcy is opened?
Banks often restrict access because of the powers of the bankruptcy authorities. The bankruptcy estate, funds exempt from seizure and income earned after opening must be distinguished. An appeal or application alone does not automatically unblock an account.
Do I automatically lose my home when bankruptcy is opened?
No. If the tenant becomes bankrupt, however, the landlord may request security for future rent and, if it is not provided, terminate the lease under the statutory conditions. Ongoing payments and security must be examined; calculation of minimum living expenses does not always guarantee retention of the home.
Complex questions from practice
Can old debts be enforced against me again after personal bankruptcy?
Personal bankruptcy does not automatically discharge debts. Certificates of shortfall in bankruptcy and the defence of no new assets must be examined under the statutory rules. Whether new assets exist does not depend solely on the current account balance.
In new debt enforcement proceedings, the payment summons, certificate of shortfall and current income and assets should be reviewed together. The correct defence and prescribed procedure are decisive. A certificate of shortfall in bankruptcy therefore means neither an automatic debt-free fresh start nor an unrestricted, immediately enforceable claim.
How can I challenge excessive attachment of earnings and prove my minimum living expenses?
Minimum living expenses, recognised expenditure and actual payment circumstances must be evidenced. Short appeal deadlines apply to debt enforcement office decisions. Report relevant changes promptly; a direct agreement with a creditor does not automatically alter attachment.
Compile income and necessary ongoing expenditure with current evidence. Rent, maintenance obligations and other relevant costs should be verifiable. Prompt notification to the debt enforcement office is important when circumstances change; the appeal deadline must not be overlooked.
Under what conditions can unjustified debt enforcement be withheld from disclosure to third parties?
Non-disclosure, withdrawal and judicial cancellation are different routes. Statutory conditions and waiting periods apply to an application after an objection. Non-disclosure does not prove that the underlying claim does not substantively exist.
First examine which procedural steps have already occurred and whether an objection was lodged. The appropriate option depends on the particular stage. Non-disclosure concerns information supplied to third parties, whereas court proceedings may determine whether the claim exists. These effects should not be confused.
How is an appeal against bankruptcy supported by restored solvency?
The statutory grounds preventing bankruptcy must be proved within the deadline and solvency credibly demonstrated. A single payment is not always sufficient. Complete evidence of liquidity and a separate application for suspensive effect are important in practice.
A reliable liquidity overview should show available funds, due liabilities and verifiable payment sources. Promises without evidenced financing are not always sufficient. The appeal deadline and application for suspensive effect must be coordinated with the evidence so that commercial arguments are also presented in time procedurally.