What is insolvency? An overview of mittlel's insolvency portal
- Seeking insolvency proceedings
- Has already been opened insolvency proceedings
- Finding insolvent companies – How does this work?
- Who has filed for private insolvency…
- Private insolvency made personal search easy?
- public insolvency notices – Where can you find them?
A look from a corporate perspective helps ..
You may be insolvent without being bankrupt, but you cannot be insolvent without being insolvent.
Private Insolvency List of Names
Very often we are asked about a private insolvency list. In the last few years alone, there have been many debtors throughout Germany who have successfully filed for private insolvency.
Since 1999, several million private individuals have made use of the opportunity to fight their mountain of debt through legal insolvency proceedings.
The issue of debt and insolvency is unpleasant for many people. No wonder, because unlike in other countries of the world, insolvency in Germany is very quickly seen as a personal failure. At first glance, it does not seem helpful that everyone can see private insolvencies … Why does it make sense for a private individual's insolvency to be published? The first reason is that insolvency proceedings are official legal proceedings. And court hearings are public, with a few exceptions.
The second is an economic reason. Before 2002, only consumers were able to find out whether a company was insolvent. It is now possible for both parties to investigate whether there is an over-indebtedness or insolvency. This makes perfect sense, as the way we consume has changed a lot. Whereas in the past many goods were personally paid in cash, e-commerce now offers countless payment options, which can cause problems more often in retrospect. A keyword is payment on account.
Actions and procedures…
Are you already confused? Many people see them as the same, but they are very different. Insolvency is a problem that bankruptcy is aimed at resolving. Insolvency is the inability to pay off debts at maturity. Fortunately, there are solutions for resolving insolvencies, including borrowing money or increasing income so you can pay off the debt. You can also negotiate a debt payment or comparison plan with the vendors.
Bankruptcy is usually a last resort when other attempts to pay off debts fail. To make things a little more complicated, there are two variants of insolvency. The first, called "cash flow insolvency"; occurs when an insolvent debtor is unable to make a payment because he does not have the money. The second, the so-called 'balance sheet insolvency'; when the debt exceeds the assets.
In the first case, the debtor does not have the money to make a payment when it is due; in the second case, it may be possible to make a payment with cash, but the financial collapse might not be far away. Paying off debt will reduce liquidity, leading to insolvency.
Insolvency only becomes a problem when…
a creditor wants to move in and the debtor cannot pay what is due. Non-payment of debt usually leads to debt collection efforts that force some kind of action. For example, if you own a house and don't pay the mortgage, you'll go to the standard that can soon lead to foreclosure.
If you can't meet the monthly minimum payments on your credit cards and don't try to work out a solution with the card company, you'll almost certainly hear from debt collection companies. You can also find information in a private insolvency list of names.
Bankruptcy is usually a last resort when other attempts to pay off debts fail. Think of insolvency as the trigger for financial difficulties. If you can't pay your rent or electricity bill because you don't have the money, you can call the loyal Aunt Beth
and ask for a loan. If you get one, the insolvency goes away, probably temporarily, unless you are able to offset your income and expenses. The longer you're insolvent, the worse it gets.
If you can't solve the bankruptcy, bankruptcy could be the only way to stop your financial bleeding. Proof that you are insolvent is necessary to file for bankruptcy. The Federal Bankruptcy Act defines the insolvency of companies and individuals as the financial situation in which the sum of the debts of such a company is greater than the total assets of such a company at a fair price. In other words, you owe so much that selling all your assets doesn't cover the bill.
|Bio + Chemical Industry||Biotechnology, Chemistry Industry, Pharmaceuticals|
|It||Digitization, Mint Technology, Telecommunications|
|Finance||Banking, Insurance, Finance, Financial Services|
|Health Service||Healthcare, Medical Technology, Care, Medicine|
|Energy||Renewable energy, energy supply, energy industry|
|Engineering||Mechanical engineering, engineering, plant engineering|
|Automotive||Automotive, automotive supplier, automotive industry|
|Electronics Industry||Electrical appliances, electrical engineering|
|Logistic/Retail||Transport, Logistics, Trade, Clothing Textile|
Cash Flow Insolvency.. simply explained ..
If you can't pay a debt because you don't have the money, you're insolvent. If insolvency were a medical problem, doctors could call it an acute condition. Many people see financial difficulties in their future, which could be called a chronic problem, but they are not insolvent until they can no longer pay their bills. Financial difficulties are chronic; Not paying bills is acute, as this is the moment when a problem becomes a personal crisis.
Cash flow or fair insolvency affects both companies and individuals. Usually, it occurs when they have exhausted other ways to solve debt. If you have a credit card payment due, you may be able to liquidate an asset such as a lawnmower to pay off a debt and avoid default, at least for now. If you run out of assets you sell
and the places where you can borrow money, and your income is not enough to cover your debt, you will probably be forced to negotiate a payment agreement with your creditors, either directly or through a debt management company. Information can also be found in a private insolvency list of names.
Deciding what to do with this type of insolvency requires a cash flow test. The debtor must assess current and future cash flows to determine whether your income is sufficient to cover debt payments. If you have an inheritance distribution or other stroke of luck that occurs in a few months, your insolvency could be temporary, but if you have sold your assets and your income will not increase, you have
perhaps not an easy way out of insolvency. The analysis can help you decide whether you want to settle a debt or apply for insolvency protection.
Balance sheet insolvency.. Quick test helps ..
Companies typically use an accounting bankruptcy test to decide whether they need to take action to stay fast or file for bankruptcy. To decide, the company evaluates its inflows and outflows and assets. If inflows are lower than outflows and the value of the company's assets are lower than what is owed – a condition known as negative net assets – one could
conclude that restructuring without the help of a bankruptcy application could be pointless. But if it has assets that could be sold – such as a truck or stockpile – that could be used to cover debt, it could try to sell the asset and shrink the company.
Financial advisers will review the business, propose scenarios for debt reduction or debt repayment, and propose a course of action. Staying in business may require the company to convince its creditors that it has made the right assumptions about future cash flows, but often companies and their lenders are not on an equal footing.
An enterprise may be insolvent but accountable if it holds non-liquid (non-cash) assets worth more than its liabilities. The reversal is also possible: an enterprise may be insolvent on the balance sheet (more debt than assets), but cash flow is solvent if its revenues allow it to meet its immediate financial obligations. Many companies that hold long-term liabilities operate continuously in this state.
Insolvency vs. Bankruptcy.. Opportunity or risk?
Insolvency is not the same as bankruptcy. Insolvency is a state of economic hardship, while bankruptcy is a court order that decides how an insolvent debtor handles unpaid liabilities. This usually involves selling assets to pay creditors and clearing off debts that cannot be paid. Bankruptcy may affect a debtor's creditworthiness and the ability to borrow for years
A person or company may be insolvent without being bankrupt – especially if the insolvency is temporary and correctable – but not the other way around.
Insolvency can lead to bankruptcy if the insolvent party is unable to successfully manage its financial situation. Information can also be found in a private insolvency name list ..
Insolvent companies can reverse course by cutting costs, selling assets, borrowing money, renegotiating debt, or being taken over by a larger company that agrees to take over the insolvent company's debts in return for controlling its products or services.