Number of debt restructuring agreements hits new record

In the first quarter of 2007, nearly 4 thousand debt restructuring agreements were pronounced in Dutch courts. Since the introduction of the act on legal debt restructuring in 1998, an unprecedented number of persons were eligible for restructuring arrangements. In 2007, the number of persons involved in debt restructuring arrangements increased considerably, particularly among 45 to 54-year-olds.
Following a sharp increase in 2004, the increase apparently levelled off in the period 2005–2006. It is as yet unclear, whether the current record heralds a new period of sustained increase.

Court orders for debt restructuring arrangements per quater