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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LEGAL CONSULTATION ON OVER-INDEBTEDNESS IN TAVIANO
SOLUTIONS FOR DEBT DISCHARGE AND DEBT REORGANIZATION



• FINANCIAL ASSESSMENT
  Personalized consultation and thorough financial analysis to best evaluate your over-indebtedness situation.
• STRATEGIC PLANNING
  Development of targeted intervention plans to manage over-indebtedness based on client needs.
• SUPPORT IN DEBT DISCHARGE PROCESS
  Preparation and organization of required documentation to successfully initiate the debt discharge procedure.
• LEGAL PROTECTION
  Legal representation during judicial proceedings to obtain protection of your rights.
• DEBT NEGOTIATION
  Negotiations with creditors to obtain easier payment conditions.
• CREATION OF DEBT MANAGEMENT PLAN
  Development of a sustainable plan that satisfies the needs of all parties involved.
• ONGOING ASSISTANCE
  Continuous supervision and monitoring to verify that the plan is being followed and to make any necessary adjustments.
• PROFESSIONAL EXPERTISE
  Solid experience in legal matters and in managing over-indebtedness and debt restructuring cases.
• SENSITIVE APPROACH
  Understanding of client difficulties and commitment to providing effective solutions and concrete support.
• SUCCESS RECORD
  A proven track record in reaching favorable agreements and restoring clients' financial control.

INSIGHTS FAQ

• What is the pre-insolvency phase in crisis management?
  • The pre-insolvency phase involves early recognition of financial difficulties and proactive restructuring before formal bankruptcy. It offers more favorable outcomes.
• How can small entrepreneurs prevent bankruptcy?
  • Small entrepreneurs can use Minor Concordat or crisis composition agreements to restructure debt before bankruptcy becomes necessary.
• What role does financial capacity play in plan approval?
  • The judge evaluates financial capacity to determine if proposed payments are realistically achievable. Plans must be sustainable based on income and expenses.
• Can dependents' income be included in financial assessment?
  • Dependent family members' income can be included in financial assessment if they contribute to household support and are willing to be part of the plan.
• How does judicial control prevent plan abuse?
  • The judge supervises plan implementation, ensuring compliance and preventing abuse. Regular reporting requirements maintain transparency.
• What is the advantage of early restructuring over bankruptcy?
  • Early restructuring preserves professional reputation, avoids bankruptcy proceedings, maintains family assets, and provides faster path to financial recovery.
• Can restructuring plans include equity-sharing with creditors?
  • Yes, innovative restructuring plans may include equity-sharing arrangements where creditors receive partial ownership stakes instead of full cash repayment.
• How does the plan handle income fluctuations?
  • Restructuring plans often include flexibility clauses for income variations. Temporary hardships may allow payment reductions, while income increases trigger higher payments.
• What is the difference between debt relief and debt discharge?
  • Debt relief reduces amounts owed, while debt discharge completely cancels remaining debts. Discharge is the final step after plan completion.
• Can I request debt restructuring if self-employed?
  • Yes, self-employed individuals can access restructuring procedures. Income verification requires additional documentation, such as tax returns and business records.
• What is the relationship between restructuring and business continuation?
  • Restructuring plans for entrepreneurs often allow business continuation while addressing debts, enabling economic recovery through operational improvement.

• 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 Taviano, Racale, Melissano, Alliste, Matino, Casarano, Parabita, Ugento, Alezio, Tuglie, Gallipoli e Taurisano.
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