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personal bankruptcy in Belgium

Question

hi everyboday. can any boday advise me about my one friend from brussel. he have credit card amont of 9000 thousand euro.he take mony for some expensive arount about 6500. bit after a little time he loose his job and unemployed. he dont pay since four month. please any body have information what he do now .or he can declare bankruptcy.or what EFFECT IF HE DO BANKKRUPCY???

wezembeekwanderer

Step 1 Go and talk with your bank first.
Having a debt on a credit card is plain stupid. Interest rates are very high.

Aug 23, 2019 09:43
anon

Every commune has a department known as the CPAS in French, and they can refer you to a debt counselor. Go and see them.

Finally - you should know that personal bankruptcy is not an option in Belgium. It effectively doesn't exist. What is more likely is that your friend will enter an arrangement with the court to garnish his wages once any earning exceed a minimum level required for them to survive. It is not unusual to be in debt for decades.

Aug 23, 2019 09:51
J

The debt follows you around. It can even be passed on to your heirs when you die. The only realistic option is a "mediation de dettes" where you pay it off little by little. Otherwise, it's bailiffs and fees adding to the debt.

Pay it off or leave the country (preferably the EU altogether)

Aug 25, 2019 16:36
wezembeekwanderer

@J Funny you should suggest that. A couple of days ago, the OP was asking why he couldn’t get a US visitor visa.

Aug 26, 2019 00:06