Which branch is the best in IIST

Debt counseling for private individuals

How long does it all take?

It usually takes around 12 weeks from the first meeting to the point at which it is clear whether the attempt at an agreement was successful or not. Sometimes there are delays, for example because my work cannot be financed so quickly, or because creditor data is incomplete and has to be laboriously determined.

If you file an application for bankruptcy at the court, it takes about one to two weeks from the submission of the application to the decision whether to open the proceedings, but the times can also vary with other courts.

Insolvency proceedings usually last exactly six years from the day they are opened until the decision on the discharge from the remaining debt.NEW: In the course of the Corona crisis, the duration of the procedure for applications submitted from October 1st, 2020 has been reduced to three years. This relief applies until 2025.

Can Icome out earlier?

(Since 2014 it has been possible, under certain conditions, to shorten the procedure by one year or even by three years. During the general shortening to three years, these abbreviation regulations are suspended until further notice.)

It can go even faster if you negotiate again with the creditors and reach an agreement shortly after the opening of insolvency proceedings.

How do I pay that?

My fee is based on the actual time required to bring your cause to a result. This means that it is up to you how much support you want and what you can contribute yourself. After the first conversation, I can calculate pretty precisely how much time it will take and what it will then cost you in total. For an average case, the range is between € 500 and € 800.

You can pay the fee in installments as is feasible for you. As soon as a third has been paid in, data collection begins and the creditors are contacted for the first time. After receipt of the second third, the payment proposal will be worked out and sent. As soon as the fee invoice has been paid in full, I close the settlement proposal.