Ending in bankruptcy

In the past, debtors who could not meet their obligations during the debt restructuring period were invariably declared bankrupt.

On 1 January 2008, the WSNP was amended to the effect that the debtor can only be declared bankrupt, if they can pay their debts after being declared bankrupt. If debt payment is unlikely, the restructured debt ends without a clean slate (categorised among ‘Other ways of termination’). All remaining debts revive and creditors can employ all means available to collect their claims.