Personal bankruptcy & debt counseling
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We are a law firm in Vienna specializing in advising and representing private individuals in financial difficulties. Personal bankruptcy can often provide such individuals with a financial fresh start. Below, we have summarized the most important questions and answers.
Who or what is fuhrmann.legal?
fuhrmann.legal is a law firm. Dr. Albert Fuhrmann LL.M. is the attorney and founder of the firm. The firm's office is located in Vienna (1st district). The exact address is Graben 22 / Petersplatz 4, TOP 6, 1010 Vienna. The nearest subway station is Stephansplatz (U1, U3).
Insolvency?
If you don't have enough money to pay your bills (e.g., loan payments, car payments, rent, etc.), you may be insolvent. Insolvency is a legal term that means you won't be able to pay all your bills, loan payments, and debts in the near future.
If you are unable to pay, we could help you get rid of your debts.
What is personal bankruptcy?
Personal bankruptcy (also called personal insolvency) is a court proceeding. If the court proceeding is successfully concluded, you no longer have any debts. There are essentially three different types of proceedings: restructuring plan, payment plan, and debt collection proceedings. Which type of proceedings is possible and best for you depends on your personal situation: How much debt do I have? Who do I owe money to? Do I have assets (e.g., an expensive car, condominium)? How much income/salary do I have? Do I have children?
You can read details about the different types of procedures here:
Restructuring plan: Creditors (these are the individuals, companies, banks, or insurance companies to whom you owe money) are offered a minimum quota of 20%, payable within a maximum of two years. A majority of creditors must agree. Advantage: The assets (e.g., condominium, expensive car) are retained and do not have to be liquidated (handed over). Payment plan: Creditors are offered any quota they wish. The quota must correspond to the debtor's income situation over the next three years. A majority of creditors must agree. Advantage: You only have to pay the agreed quota (installments); you can generally dispose of any future increase in assets as you wish. Disgorgement procedure: In this procedure, all attachable portions of income (roughly speaking, income less the minimum subsistence level) must be surrendered for a specified period. After five years (in a disgorgement plan) or three years (in a repayment plan), the court usually grants discharge of residual debt, and you are free of your debts. Advantage: The consent of the creditors is not necessary.
What does fuhrmann.legal do?
Initial consultation : If you describe your personal situation to us, we can discuss in detail what options you have (e.g., personal bankruptcy) to get rid of your debts. We will then explain to you what consequences and effects personal bankruptcy will have on you and how long it is likely to take. A detailed initial consultation costs €240.
Negotiations with creditors : In some cases, personal bankruptcy can be avoided by reaching an agreement with creditors in advance (e.g., installment plan, debt restructuring, etc.). We will discuss this option with you and conduct negotiations with creditors. The costs for this depend heavily on the extent of our intervention.
Personal bankruptcy : You can file for personal bankruptcy with a court. We will prepare all the necessary documents for you, submit the necessary applications to the relevant court, and accompany you to court hearings. The fees depend on your personal situation and start at approximately EUR 1,500.
Why go to a lawyer and hire fuhrmann.legal?
Competence : We are trained experts as lawyers and jurists.
Individual : We take time for your personal situation and work with you to develop the best strategy.
Confidential : All information you provide to us will remain strictly confidential. Attorneys are bound by confidentiality.
Fast : We'll get you an appointment promptly. We'll advise and represent you quickly and efficiently.
Transparent : No hidden costs or nasty surprises – we will discuss all costs with you in advance.
How can you contact us?
Call us without obligation on +43 (1) 533 66 61 - 0 or send us an email to office@fuhrmann.legal and leave us your contact details (name and telephone number) - we will clarify the next steps with you.