Completion of debt relief

Deb relief ends with a court resolution acknowledging the full implementation of debt relief.

Debt relief ends with the insolvency court’s decision acknowledging the full implementation of debt relief. There is no right of appeal against that decision. If the debtor complies with all obligations under the approved debt relief method in a due and timely manner, the insolvency court – on a motion from the debtor – issues an order freeing the debtor from the payment of claims included in the debt relief procedure to the extent to which they have not yet been satisfied.

Debt relief may also end by the court’s cancellation of the approved debt relief. At the same time, the court either decides to deal with the debtor’s insolvency in bankruptcy proceedings, or discontinues the insolvency proceedings if the debtor is has no assets at all. Approved debt relief is cancelled in cases stipulated by law that relate, in particular, to the debtor’s failure to comply with the conditions of debt relief.

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