Debts .... now what? 

Debt can feel like you are alone on a small island that you can’t get off. It can make you lonely, give you a lot of stress and make you feel stuck. Don’t know what to do? Don’t worry, below we have created a step-by-step plan that you can follow. I also add examples of forms that you can use.

The most important thing to do if you have debts is to stay in touch with your creditors. Be honest about your situation with the help agencies and creditors.

Making an overview of your debts 

Start by writing down all your debts. Note the date of the last letter or email, the amount of the debt and the file number or reference.

Click on the button below to check via Schuldenwijzer whether someone has seized your income.

Putting debts on hold

If you have made an overview, you can ask the bailiffs to put your file "on hold" for a month. This will give you time to contact the debt assistance of your municipality. Replace the blue text in the letter between <..> with your own details.

Applying for the amount of the exempt amount

The exempt amount is the minimum amount you need to make ends meet, even if your income is seized. Do you want to know how much your exempt amount is? That is easy to arrange! Contact the bailiff or the collection agency that has levied the seizure. They will calculate this amount for you based on your situation, such as your income, housing costs and family.

To ensure that this goes quickly and smoothly, it is useful to prepare the necessary paperwork in advance, such as your pay slips, rental contract and any allowances. This way they can calculate exactly what your exempt amount is and you can be sure that you will have enough left over for your fixed costs and daily expenses.

Appointment with the municipality for a solution

Make an appointment with your municipality for debt assistance as soon as possible. You can find the right department of your municipality via the buttons below. They can help you further. This can be done, for example, via an amicable process or the WSNP. In both cases, you will receive help with your debts and you must adhere to a few rules.

Amicable process:

In an amicable process, you try to find a solution together with the creditors without the judge being involved. Both parties make agreements about how the debts will be repaid. The aim is to settle the debts in a feasible way.

WSNP:

Sometimes it is not possible to reach a solution with the creditors. For example, if the debts are very high or if the creditors do not want to cooperate. In that case, you can apply for the WSNP (Natural Persons Debt Restructuring Act).

The WSNP is a legal arrangement that allows you to eventually become debt-free. You apply for this via the court, and your debt counselor can help you with this.

Are you eligible for the WSNP? Then you have to put aside as much money as possible to pay back your creditors. A trustee helps you with this, and a bankruptcy judge checks whether you keep to the agreements.