Not only companies can seek a declaration of bankruptcy when they are unable to meet their payment obligations, but individuals can also apply.
It is a mechanism that can be used in cases of over-indebted families or individuals who have lost control of their personal finances or the impact of the economic crisis has made them unable keep the balance of payments that they previously had.
The positive effects of bankruptcy as an individual or family can be to reduce all their debts to 50% and arrange a payment agreement with creditors over five years, with annual or monthly payments, excluding mortgage debt. It can be a good option for them, and a new chance at life. Free consultation.