The level of indebtedness of the French households decreased last year thanks to the measures of framing of the State.
There are always households who are victims of over-indebtedness or who are trying to get into it with hard, even complicated, endings of the month. There are effective and difficult solutions in procedure.
The first and by far the most realistic and effective solution is the redemption of debts. With this formula, the borrower who is unable to honor the monthly payments, has a new loan.
The redemption is contingent upon market conditions and is only possible when the current interest rate is lower than the original loan rate. The borrower will have a loan, monthly payments lightened and spread over a longer period.
Company debts, social charges and VAT are not eligible for redemption and should not be filed with the Bank of France.
The second solution is in the same way. If the borrower has only one debt, he can resort to an operation called renegotiation of the credit in progress. He negotiates a new loan with his bank with the conditions of the moment.
Another solution: resort to the over-indebtedness commission. Thanks to the mediation of the commission, the over-indebted one hopes the renegotiation of his debt with his creditors.
It will have a new schedule, a lowered amount or simply a total write-off that is normally decided for domestic debts.
Professional debts not related to personal bankruptcy are not eligible. This is also the case of unpaid alimony and debts due to the Treasury related to a decision of the Tribunal.
In the case of an intervention of the debt commission, it is expected the sale of property in the context of a liquidation judicial.
The last word belongs to the judge regarding the resolution of an over-indebtedness.
To successfully use the over-indebtedness commission, the borrower can be helped by an approved association accustomed to this kind of financial difficulty. This is the case of Croesus and Cypresses.
Rental debts are the big plague. The landlord and tenant are required to negotiate a clearance plan prior to any eviction proceedings. In this event, the CAF that pays the APL must be involved.
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