Overindebtedness Law 3

• 1. NEGOTIATED COMPOSITION OF CRISIS
  
  • Eligible subjects
    • Consumers (natural persons not entrepreneurs)
    • Professionals and small entrepreneurs
    • Minor enterprises
  • Features
    • Allows debt restructuring through direct negotiations with creditors.
    • Offers a flexible and personalized restructuring plan.
    • Promotes rapid intervention to contain crisis worsening.
    • How does it work?
• Initial consultation meeting
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• 2. DEBT DISCHARGE
  
  • Eligible subjects
    • Consumers in crisis with specific requirements
    • In some cases, also professionals and minor entrepreneurs
  • Features
    • Allows cancellation of residual debt (fresh start) after meeting specific requirements.
    • Requires compliance with specific regulatory thresholds and requirements.
    • Promotes financial reinsertion with significant reduction of burdens.
    • How does it work?
• Initial consultation meeting
• Calculate your debt reduction now
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• 3. SIMPLIFIED AGREEMENT
  
  • Eligible subjects
    • Subjects in crisis with reduced repayment capacity, particularly those of advanced age
    • Consumers or businesses in conditions of moderate crisis
  • Features
    • Fast and agile procedure to obtain strong debt reduction.
    • Simplified procedures compared to traditional agreement.
    • Lower procedural costs and reduced implementation times.
    • How does it work?
• Initial consultation meeting
• Calculate your debt reduction now
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• 4. PREVENTIVE AGREEMENT IN CONTINUITY
  
  • Eligible subjects
    • Non-minor enterprises, especially those that must preserve business continuity
    • Companies in crisis with significant assets and need to maintain operations
  • Features
    • Restructuring planning that allows continuation of business operations.
    • Balance between creditor protection and recovery of productive capacity.
    • Structured approach with homologation of the restructuring plan.
    • How does it work?
• Initial consultation meeting
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• 5. JUDICIAL LIQUIDATION AND LIQUIDATORY AGREEMENT
  
  • Eligible subjects
    • Debtors in situation of irreversible crisis
    • Subjects who cannot access restructuring pathways
  • Features
    • Liquidation procedure aimed at controlled distribution of assets.
    • Simplified procedures to reduce time and costs of the procedure.
    • Aims to satisfy creditors through asset liquidation, eliminating the social stigma of bankruptcy.
    • How do they work?
• Initial consultation meeting
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• DIFFERENCES FROM PREVIOUS LEGISLATION
  • Greater flexibility
    The new rules of the Crisis Code have introduced greater flexibility in the management of overindebtedness crises.
  • Simplification of access to debt discharge
    The process for accessing debt discharge has been simplified, facilitating non-bankruptcy subjects.
  • Objective
    These procedures are designed to offer a way out to individuals and small businesses that cannot access traditional bankruptcy procedures such as insolvency, allowing them to resolve situations of serious economic difficulty.
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• Initial consultation meeting
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HOW DO THE DEBT RESTRUCTURING
PROCEDURES WORK?

• NEGOTIATED COMPOSITION OF CRISIS
  
  
  • Initial assessment
    • Financial documents are collected and repayment capacity is verified.
  • Definition of a plan
    • A preliminary meeting is held to analyze the situation and define a negotiated plan.
  • Negotiations with creditors
    • Initiation of direct negotiations to agree on debt restructuring.
  • Formalization of the plan
    • The plan is drafted and, if necessary, presented to the court for homologation.

• Initial consultation meeting
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• DEBT DISCHARGE
  
  
  • Verification of requirements
    • Verification that regulatory requirements are met and necessary documentation is collected (balance sheets, statements, etc.).
  • Submission of the application
    • Sending of the request to the competent authority for debt discharge.
  • Required compliance
    • Execution of compliance requirements (e.g., informational meetings or training courses) provided for by law.
  • Obtaining fresh start
    • Residual debt is partially or fully cancelled, allowing a fresh financial start.

• Initial consultation meeting
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• SIMPLIFIED AGREEMENT
  
  
  • Document preparation
    • Collection of information and financial documents, with the support of a lawyer.
  • Drafting of the proposal
    • A simplified proposal for debt reduction is developed, with clear objectives.
  • Negotiation with creditors
    • Presentation and discussion of the proposal with creditors to reach an agreement.
  • Homologation and implementation
    • The court homologates the plan, which is then implemented to obtain debt reduction.

• Initial consultation meeting
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• PREVENTIVE AGREEMENT IN CONTINUITY
  
  
  • In-depth business analysis
    • Collection of up-to-date balance sheets and documentation to assess the state of the business.
  • Drafting of the restructuring plan
    • Development of a plan that provides for continuation of business operations, balancing creditor needs with continuity safeguards.
  • Meetings and negotiations
    • Initiation of discussions with creditors and, possibly, with a professional to define plan terms.
  • Submission to the court
    • The plan is submitted for homologation, thereby activating the restructuring procedure.

• Initial consultation meeting
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• JUDICIAL LIQUIDATION AND LIQUIDATORY AGREEMENT
  
  
  • Evaluation of the irreversible situation
    • In-depth analysis to determine whether debt restructuring is no longer possible.
  • Preparation of the application
    • Collection of necessary documentation and submission of the request to the court.
  • Realization of liquidation
    • Sale of assets to satisfy creditors, following a controlled procedure.
  • Closure of the procedure
    • Formal conclusion of the proceeding, with any residual measures for debtor discharge.

• Initial consultation meeting
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HELP FOR OVER-INDEBTEDNESS IN APPIANO SULLA STRADA DEL VINO
REMEDIES AND DEBT MANAGEMENT



• PERSONALIZED CONSULTATION
  Detailed analysis of your financial situation to understand the causes of over-indebtedness.
• CUSTOMIZED SOLUTIONS
  Design of specific interventions to help you overcome over-indebtedness.
• DOCUMENTATION PREPARATION
  Support in organizing necessary documents to start the debt discharge process.
• PROTECTION OF YOUR RIGHTS
  Legal representation in all appropriate venues to achieve a positive outcome.
• NEGOTIATIONS AND AGREEMENTS
  Negotiations with creditors to obtain favorable repayment conditions.
• DEBT REORGANIZATION STRATEGIES
  Design of a debt management plan that is sustainable over time.
• MONITORING AND ADJUSTMENT
  Continuous monitoring of the restructuring plan to make any necessary modifications.
• GUARANTEED PROFESSIONALISM
  Long experience in over-indebtedness and debt management.
• CLIENT ATTENTION
  We understand the difficulties of the moment and are committed to providing practical and concrete solutions.
• SUCCESS STORIES
  Many clients have achieved positive results in negotiating advantageous repayment agreements.

INSIGHTS FAQ

• How does restructuring affect future access to credit?
  • During restructuring, credit access is limited. Post-completion, debtors gradually rebuild credit through consistent payments and improved financial behavior.
• What is the role of the debtor's advocate in restructuring?
  • The debtor's legal representative negotiates with creditors, prepares documentation, argues before judges, and ensures debtor rights protection throughout.
• Can restructuring address garnishment orders?
  • Restructuring approval can suspend existing garnishment orders, though creditors may resume if the debtor violates plan terms.
• How does cohabitation status affect restructuring plans?
  • Cohabitation can increase household income consideration for plan assessment. Partners' assets and debts may be factored into financial capacity evaluation.
• What happens if a creditor goes bankrupt during restructuring?
  • If a creditor becomes insolvent, their claims transfer to the bankruptcy receiver. Restructuring plans typically include continuity provisions for such changes.
• Can restructuring include debt forgiveness components?
  • Yes, some restructuring agreements include partial debt forgiveness where creditors voluntarily reduce amounts owed in exchange for guaranteed payment of remainder.
• How does business seasonality affect restructuring plans?
  • Seasonal businesses can request variable payment schedules aligned with revenue cycles, ensuring sustainable payments during low-revenue periods.
• What happens to court fines in restructuring plans?
  • Court-ordered fines are typically non-dischargeable and must be addressed separately. However, judges may allow integrated payment arrangements.
• Can restructuring plans be transferred to family members?
  • Restructuring is debtor-specific and generally cannot be transferred. However, heirs may pursue restructuring for inherited debts if they accept the estate.
• How does the OCC maintain accountability in liquidation?
  • The OCC maintains detailed records, undergoes regular audits, and provides transparent reporting to ensure debtor and creditor accountability.
• Can restructuring prevent professional license revocation?
  • Professional licenses may be protected under restructuring if debts are being addressed responsibly. Judges can advocate for license preservation during proceedings.

• Would you like to book a meeting? Discover how to request an appointment.
  • The law firm operates in the field of managing overindebtedness crisis throughout the national territory using virtual meeting tools. The firm is able to offer its legal services also at the national level, aiming to assist you throughout Italy.
  • The firm is able to offer its legal services also at the national level, aiming to assist you throughout Italy.
  • L'Aurora Law Firm is based in Terracina in the province of Latina: throughout the Italian territory, legal consultation is offered using telematic tools also in the cities of Appiano sulla strada del vino, Caldaro sulla strada del vino, Laives, Terlano, Bronzolo, San Genesio Atesino, Cornedo all'Isarco, Ora, Termeno sulla strada del vino, Nova Ponente, Novella e Egna.
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