Be sure to Request a payday loan debt settlement now
In principle, a WNSP process takes three years from the WSNP ruling. You have the necessary duties during this period. If you do not comply with this, the court can terminate the debt restructuring without you getting the clean slate. Your debts are then due and payable by your creditors. Push Button For… a payday loan debt settlement.
You have the following obligations:
No new debts
You cannot make new debts. Think of rent arrears. You may also not be read on your bank account or incur a delay in the payment to the estate account.
Work or apply
When you have a job you must do your best to keep it. If you have no work, you are required to apply. You must work at least 36 hours a week (or do everything to find a 36-hour job), even if you have young children. You must forward proof of your applications to me.
If you are unable to work (in full) due to illness, you may be exempted from the obligation to apply. The judge decides on this. You must then provide documentary evidence of this, for example, a statement from a specialist.
You must keep me informed of all changes in your living, living and income situation. For example, if you start living together, divorce or receive an inheritance. You often need permission from the court to relocate.
We calculate a ‘release amount’ for you, this is the amount that you are allowed to keep each month to pay the fixed costs (rent, water, energy, insurance, household money, etc.). The amount that remains must be transferred to the estate account that has been opened for you. If you have an income that is lower than your ‘amount to be released’, you do not have to pay either.
The balance on the estate account is intended to pay the creditors and the administrator at the end of your debt settlement.
During the first 13 months of the Wsnp, there will be a post block at your address. All your mail delivered through PostNL arrives at us, is opened, read and then forwarded to you. We do this once a week, on Thursdays. We will immediately send important documents or send you an e-mail about this.
If you comply with the above obligations, you will receive a ‘clean sheet’ from the court. The clean slate means that creditors can no longer reclaim their (remaining) money.
If you have saved enough during the WSNP to repay all debts, the court can stop the process. This can also be earlier than after three years.
You may also receive financial support from a third party. In that case, you can offer the creditors an agreement. Sometimes they agree with this. If the court approves this agreement, it will stop the Wsnp process. Then you will continue to implement the agreement.
If you have not complied with the obligations, the court may terminate the Wsnp prematurely. The amount that you have saved up to that time will then go to the administrator and the creditors. At that time, the creditors can reclaim remaining debts, for example by seizing your wages, benefits or things.