Managing Overindebtedness Crisis
Law 3/2012
Structured and personalized legal solutions aimed at restoring financial and legal balance in the territory of Novellara, using virtual tools
DEBT RESTRUCTURING PROCEDURES IN NOVELLARA
Being in a state of overindebtedness can be difficult, but there are tools to manage it.
- Every day, many people and companies face apparently insurmountable financial difficulties.
- The good news is that legal solutions and procedures specifically designed to manage and resolve these issues exist, both for consumers and for professionals and businesses. In the province of Reggio Nell'Emilia:
- Calculate your debt reduction now
- HOW TO GET OUT?
- In the region of Emilia Romagna these are the tools that the law makes available to us:
- FOR CONSUMERS (natural persons not entrepreneurs)
- Negotiated composition of personal crisis
A procedure that allows direct negotiation with creditors to restructure debt, focusing on asset protection and income maintenance. - Debt discharge
A mechanism designed to free the debtor from residual debt, offering the possibility of obtaining a "fresh start" after meeting specific requirements and overcoming the crisis phase. - Judicial liquidation
A last resort solution, available in particularly serious situations, which involves the liquidation of assets to satisfy creditors and allow the debtor to make a fresh start.
- Negotiated composition of personal crisis
- FOR PROFESSIONALS AND SMALL ENTREPRENEURS
- Simplified agreement
Ideal for subjects in crisis with limited personal or business profiles; this procedure offers strong debt reduction in a rapid and simplified manner, protecting income or personal financial stability. - Negotiated composition of crisis
A flexible tool that allows defining, through direct negotiations, a debt restructuring plan, adaptable to the specificities of the profile and financial situation. - Debt discharge
In some cases, after going through the negotiated composition phase, it is possible to access a debt discharge mechanism that allows cancellation of residual debt.
- Simplified agreement
- FOR ENTERPRISES (large and small)
- Negotiated composition of crisis
The central tool for restructuring business debt, aimed at obtaining a plan negotiated with creditors that allows maintaining productive continuity. - Preventive agreement in continuity
Aimed especially at larger enterprises. This tool allows drafting a restructuring plan that preserves business value and continuity, balancing creditor protection with the company's ability to continue operations. - Judicial liquidation and liquidatory agreement
In irreversible situations, these simplified liquidation tools allow realization of business assets to satisfy creditors, eliminating the social stigma of bankruptcy.
- Negotiated composition of crisis
- THE LAW FIRM
- WHO WE ARE
- L'Aurora Law Firm, with multi-year experience in managing overindebtedness crisis, is ready to offer you personalized assistance throughout the national territory, with the clear objective of helping you face this difficult scenario.
- We have a clear and well-structured process that will allow you to proceed step by step without feeling overwhelmed.
- Every case is different, so the procedure will be carefully evaluated to verify its admissibility according to current legislation.
- Initial consultation meeting
- WHAT IS OVERINDEBTEDNESS AND WHAT DOES IT ENTAIL?
- Overindebtedness occurs when a person or company is no longer able to regularly fulfill its financial obligations.
- It is a condition in which accumulated debt exceeds the ability to repay it, leading to a situation of financial crisis that may seem hopeless.
- Executive procedures do not stop on their own, and the longer you wait, the fewer options you have.
- Book your first meeting now
- EFFICIENT REMOTE MANAGEMENT THROUGHOUT ITALY
- Debt restructuring is managed by the firm through a structured and widely tested telematic process at the national level.
- Thanks to a consolidated method, each phase is followed with precision, ensuring security in document management and constant assistance via email, phone or videoconference.
- We are available not only in Terracina and in the province of Latina, but also virtually throughout Italy, in the cities of Luzzara, Cadelbosco di Sopra, Carpi, Dosolo, Gonzaga, Pomponesco, Poviglio, Novi di Modena, Boretto, Suzzara, Campegine e Brescello.
- As this is a nationally regulated procedure, distance does not affect the effectiveness of legal intervention.
- Book your first meeting now
- BENEFIT FROM LEAN AND RESPONSIVE LEGAL SUPPORT
- We offer multiple intervention opportunities designed to address legal issues with practicality and consolidated professional competence.
- Through the use of video connection technologies such as Google Meet and WhatsApp, we are active in remote form at Novellara and within the national territorial scope, providing expert legal consultation and available wherever necessary.
- Introductory Meeting Preliminary meeting exempt from consulting activities. Objective: to map needs and circumscribe the legal issue encountered.
- Analysis and Evaluation Meeting for detailed deepening and assessment of attached documentation for an initial rigorous investigation. Objective: to clarify with precision the appropriate strategic course and provide first-level consulting.
- Strategic Consultation Rigorous and intensive processing of provided documentation enriched by consultation and 2 follow-ups. Objective: to develop an integral legal strategy and outline an articulated strategic course for matters of significant complexity.
- WHO WE ARE
In Novellara, here are the 5 main overindebtedness procedures available provided by the Code of Business Crisis and Insolvency (CCII), former Law 3, introduced with Legislative Decree 12 January 2019, n. 14 and subsequently amended.
- 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?
- Eligible subjects
- Initial consultation meeting
- Calculate your debt reduction now
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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?
- Eligible subjects
- 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?
- Eligible subjects
- 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?
- Eligible subjects
- Initial consultation meeting
- Calculate your debt reduction now
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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?
- Eligible subjects
- Initial consultation meeting
- Calculate your debt reduction now
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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. - Back to top
- Greater flexibility
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 assessment
- 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.
- Verification of requirements
- 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.
- Document preparation
- 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.
- In-depth business analysis
- 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.
- Evaluation of the irreversible situation
- THOROUGH FINANCIAL ANALYSIS
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Personalized evaluation and detailed assessment of your financial situation to better understand your over-indebtedness status.
- PERSONALIZED STRATEGIES
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Tailored proposals for your needs to effectively address over-indebtedness.
- SUPPORT DURING DEBT DISCHARGE
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Assistance in gathering and preparing all required documentation to initiate the debt discharge procedure.
- LEGAL REPRESENTATION IN COURT
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Legal defense to ensure your interests are protected during all phases of the procedure.
- DEBT RESTRUCTURING AGREEMENT NEGOTIATION
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Negotiations with your creditors to obtain more favorable and sustainable payment conditions.
- DEBT MANAGEMENT PLAN
-
Creation of a debt restructuring plan that is acceptable to all parties involved and manageable over time.
- ONGOING SUPPORT
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Continuous supervision and monitoring of the restructuring plan to ensure it is followed and to make any necessary adjustments if needed.
- LEGAL EXPERTISE AND EXPERIENCE
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Years of specific experience in over-indebtedness law and debt restructuring, aiming for high-level assistance.
- EMPATHETIC AND PROFESSIONAL APPROACH
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We know how difficult these situations can be, and that's why we are committed to offering concrete solutions and empathetic support.
- GUARANTEED RESULTS
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A proven track record of success in negotiating favorable agreements and restoring clients' control over their finances.
LEGAL ASSISTANCE FOR OVER-INDEBTEDNESS IN NOVELLARA
DEBT DISCHARGE AND DEBT REORGANIZATION
THE FIRM | WHO WE ARE
- The L'Aurora Law Firm is available for anyone seeking tailored virtual legal assistance and personalized solutions in Novellara. We offer a wide selection of personalized legal services to effectively meet the needs of private individuals, companies and independent professionals.
- We remain constantly updated on the latest developments in legislative matters and the most recent judicial trends, ensuring personalized, punctual and cutting-edge assistance. Each case is unique and presents its own specificities, which is why we strive to offer targeted and strategic consultations to resolve legal matters in the most efficient, rapid and professional manner possible, both in private and business contexts.
- Our approach is founded on a thorough, meticulous and detailed evaluation of each situation, providing practical and concrete solutions, always aimed at defending the rights and legitimate interests of our clients. We firmly believe in absolute transparency and mutual trust, always maintaining open a constant, clear and direct communication channel with our clients during all phases of proceedings.
- We provide qualified virtual consultation and legal assistance in Novellara and in the region of Emilia Romagna in various areas of law, including civil, commercial, corporate, labor and criminal law. Whether it involves a contractual dispute, complex family matters or business litigation, we are here to provide you with the necessary professional support to face every legal matter with serenity, confidence and complete awareness.
- We work with passion, determination and professional rigor to achieve concrete and measurable results, always with the primary objective of ensuring the complete legal protection and safeguarding of our clients' rights. Contact us for an initial introductory meeting and discover how we can protect your rights and resolve every legal issue with professionalism, expertise and promptness.
INSIGHTS FAQ
- How does the minor concordat protect small entrepreneurs?
- The Minor Concordat offers small entrepreneurs protection from bankruptcy while enabling debt reorganization. Creditors receive payment according to the approved plan.
- What documentation is required for a consumer plan application?
- Required documents include proof of income, list of debts, financial statements, and proposed payment schedule. Complete documentation strengthens approval chances.
- Can the crisis composition agreement be modified after approval?
- Yes, if circumstances change significantly, the agreement can be modified through court proceedings. Changes must be approved by the judge and, if substantial, by creditors.
- What happens to tax debts in debt restructuring?
- Tax debts are included in restructuring plans and must be addressed. They are generally not dischargeable unless specifically included in the judicial approval.
- How are creditors notified of the restructuring plan?
- The court issues formal notice to all creditors, informing them of the plan and providing opportunity to object or vote depending on the procedure type.
- Can I file for controlled liquidation while employed?
- Yes, employed individuals can request controlled liquidation. Employment income is considered when calculating payment capacity and designing the debt plan.
- What is the role of the certified mediator in crisis composition?
- The certified mediator facilitates negotiations between debtor and creditors, drafts the agreement, and presents it to the judge for homologation.
- Are there any exceptions to debt discharge eligibility?
- Individuals who have engaged in fraud or gross negligence may be denied discharge. Additionally, dishonored checks and certain criminal debts may not be dischargeable.
- How does the plan protect against creditor harassment?
- Once a debt restructuring plan is judicially approved, creditors must cease enforcement actions and follow the plan terms. Violations can result in legal consequences.
- Can I access multiple restructuring procedures simultaneously?
- Generally, debtors should choose one primary procedure. However, circumstances may allow combined approaches under professional guidance.
- What happens to the debtor after debt discharge is granted?
- After debt discharge, the debtor's obligations are legally cancelled. They can rebuild their financial life, though credit report impact remains temporary.
- 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 Novellara, Campagnola Emilia, Rio Saliceto, Fabbrico, Correggio, Bagnolo in Piano, Gualtieri, Reggiolo, Guastalla, Rolo, San Martino in Rio e Castelnovo di Sotto.
- Initial consultation meeting
My name is Liliana L’Aurora, Lawyer registered with the Bar Association of Latina. I practice business distress law, over-indebtedness and insolvency, in line with the Business Distress Code. Crisis Manager in over-indebtedness procedures and in insolvency proceedings. I am also registered with the Register of Crisis Managers and the OCC of Latina.
I have matured practical experience at the De Felice Law Firm, with a focus on bankruptcy proceedings and real estate sales. I provide legal consultation in various areas, including commercial law, family law, debt recovery, and civil liability.
Graduated in Law from La Sapienza University in Rome, I continue to participate in updating courses, including those on the Business Distress Code.
I offer remote legal consultation at the national level, thanks to the use of digital technologies that allow me to operate at a distance in complete security.