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Old 13.02.2020, 12:48
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Coming out from my debt or filing bankruptcy .please help me to find out a solution.

Hello all.

im sorry ,if the topic is not allowed please delete them ADMINS .

i want to tell a small intro about me here , im rexan living in winterthur and working. i have B residence permit ,and im from Asia.

badly i have got around 60 000 Fr debt . and im working now and paying amount to betreibungsamt . but still i have high amount , im really feeling bad and im having high depression ,i have no interest to eat or sleep or live .i feel like , everything push me to end of my life .im married , my wife is not in Switzerland , but i want to bring her here ,but it is not possible ,because of my debt in betreibungsamt .i feel like im almost done in everything .

my last things is try on filing bankruptcy . so please if anyone know about it ,please share with me .

my questions are ,

1. i hold B permit .so what happen if i file bankruptcy for my permit ,will i lose it ?

2. can i bring my wife here if i file bankruptcy ? because im fighting with this problem around 3 to 4 years .but still i have this amount . im married 6 years before ,still we did not live together .im living here and she is not here .

also please share anything you know about bankruptcy in CH .it will help me . thank you .

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Old 13.02.2020, 13:14
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

how did you manage to rack up so much debt here??
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Old 13.02.2020, 13:34
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

Bankruptcy is not the magical thing a lot of people think it is.

- It takes time and a lot of paperwork to fix such.
- Be aware of personal assets/belongings that can be seized.
- It is costly, you have to pay 4.000,- towards bankruptcy costs.
- Debts do not disappear, at most the interests are frozen.
- Any debt remaining after a bankruptcy period can be collected by the creditor during a period of 20 years the moments you have assets or money again.
- Bankruptcy's can hunt you administratively for many years.

If you have an agreement with betriebungsamt on monthly payments than you should stick to that. And yes 60K is a lot, however keep on paying, ask for overtime, or get an extra weekend job, see where you can cut expenses in/around the house, get a cheaper car, or just sell it if you have one and don't really need it, heck you could even rent out a room in your home if you have the space, or move from your home to an as cheap as possible place for now. Trying to maximise the paybacks is your fastest way out of this.

And yes it sucks to have debts, but that is just how it is.

Last edited by EdwinNL; 13.02.2020 at 13:52.
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Old 13.02.2020, 13:58
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

Bankruptcy in Switzerland is only for companies, not people.

Tom
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Old 13.02.2020, 14:02
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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Bankruptcy in Switzerland is only for companies, not people.

Tom
That is not correct.

https://www.ch.ch/en/yourself-bankrupt/
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Old 13.02.2020, 14:14
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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I guess in the traditional sense personal bankruptcy in the UK and USA are more of a get out of jail free card
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Old 13.02.2020, 14:18
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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However the debts don't go away, it's now what UK/US understand as bankruptcy.
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Old 13.02.2020, 14:19
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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...because im fighting with this problem around 3 to 4 years .but still i have this amount . im married 6 years before ,still we did not live together .im living here and she is not here .
You need emotional as well as financial help.
Caritas are a Catholic association, but they do offer support for people facing up to their debt https://www.caritas.ch/en/finding-help/sos-debt.html They are just one of a number of organisations that can help you with the the emotional strain and practicalities of your situation.

Money is never worth risking your life and mental well being for.
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Old 13.02.2020, 14:31
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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However the debts don't go away, it's now what UK/US understand as bankruptcy.
But we are in Switzerland
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Old 13.02.2020, 14:38
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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But we are in Switzerland
Yes, so the debts don't go away.

It's a useless form of bankruptcy here.

Tom
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Old 13.02.2020, 14:39
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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But we are in Switzerland
However the UK was the no 1 place for Germans to go bankrupt in as the Germans have to accept the UK court ruling . I guess the bankruptcy tourism will end this year
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Old 13.02.2020, 15:03
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

Hi Rexan,

Thanks for sharing your situation with us, seeking help is the first step to getting control of your life once again. I am a former insolvency practitioner and I have dealt with several people in your situation and I understand it is a terrible situation to find yourself.

The first thing to address is your health, in my experience most people in your situation can benefit by visiting your doctor and discussing how you are feeling with them. They can usually prescribe something to help you relax, sleep etc. A good nights sleep can make things seem much better, so visit your doctor and if you don't have one, visit the walking doctors at Zurich main station (https://www.permanence.ch/en/).

The next thing to do is get some advice on your debt situation, so go visit these guys: SOS Debt - Debt Counselling. Since we know nothing about how you accumulated such debt, I'n not going to say anything beyond saying that it seems strange that a B permit holder managed to rack up so much debt unchecked. So without raising false hopes, I think this organisation may be able to help you deal with this situation.

And the bottom line - your health is most important, if it becomes all too much after this, pack your bangs and go home to your wife - there really is not much they can do about your debts if your are no longer on the continent.






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Hello all.

im sorry ,if the topic is not allowed please delete them ADMINS .

i want to tell a small intro about me here , im rexan living in winterthur and working. i have B residence permit ,and im from Asia.

badly i have got around 60 000 Fr debt . and im working now and paying amount to betreibungsamt . but still i have high amount , im really feeling bad and im having high depression ,i have no interest to eat or sleep or live .i feel like , everything push me to end of my life .im married , my wife is not in Switzerland , but i want to bring her here ,but it is not possible ,because of my debt in betreibungsamt .i feel like im almost done in everything .

my last things is try on filing bankruptcy . so please if anyone know about it ,please share with me .

my questions are ,

1. i hold B permit .so what happen if i file bankruptcy for my permit ,will i lose it ?

2. can i bring my wife here if i file bankruptcy ? because im fighting with this problem around 3 to 4 years .but still i have this amount . im married 6 years before ,still we did not live together .im living here and she is not here .

also please share anything you know about bankruptcy in CH .it will help me . thank you .

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Old 13.02.2020, 15:06
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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Yes, so the debts don't go away.

It's a useless form of bankruptcy here.

Tom
Bankruptcy comes worldwide in many tastes and flavours. And even if the debts would go away it still might be a process of many years before they do.

I like the idea where people are responsible for their own debts. However with America I can see that there should be a sort of way out since they just keep lending money to every poor idiot who already has 10 debts against incredible insane interests. People should be protected against their own stupidity in some way, here that is mostly by not lending to those who can't afford, there it is by bankruptcy processes.
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Old 13.02.2020, 15:15
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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Bankruptcy comes worldwide in many tastes and flavours. And even if the debts would go away it still might be a process of many years before they do.

I like the idea where people are responsible for their own debts. However with America I can see that there should be a sort of way out since they just keep lending money to every poor idiot who already has 10 debts against incredible insane interests. People should be protected against their own stupidity in some way, here that is mostly by not lending to those who can't afford, there it is by bankruptcy processes.
The reason for UK / US bankruptcy laws is it allows people to take risks in business that should things go wrong they can have another chance.
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Old 13.02.2020, 15:16
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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The reason for UK / US bankruptcy laws is it allows people to take risks in business that should things go wrong they can have another chance.

If I recall correctly, you can even be elected president after doing that
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Old 13.02.2020, 15:19
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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The reason for UK / US bankruptcy laws is it allows people to take risks in business that should things go wrong they can have another chance.
There is a difference in personal and company bankruptcy. A lot of countries allow the last for example, but not the first.

Anyway, OP talked about bankruptcy. I gave him the short briefing of what bankruptcy in Switzerland is about so we can all be clear it is not a solution for him, so we might as well just drop the whole subject.

Last edited by EdwinNL; 13.02.2020 at 15:31.
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Old 13.02.2020, 15:23
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

I understand you are all interested in discussing the different forms of Bankruptcy in different countries but the OP seems to be in a bad place. Sure it's probably his own fault but he's asked for help.

Be good if someone who is able to help or offer advice could do so.
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Old 13.02.2020, 15:31
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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Bankruptcy in Switzerland is only for companies, not people.

Tom
Not correct. Info available in German and French.

But it's not the "I'll be free" solution here. Basically one can never build assets again as the moment one does, the creditors will bring up their demands again.
It could be a momentary relief (wage garnishment is stopped) if someone is willing to pay up when times are better.

As to the two questions of OP, it says in link above:
<<Migranten und Migrantinnen haben Schwierigkeiten zu erwarten, falls die Erneuerung einer Bewilligung, der Familiennachzug oder die Einbürgerung ansteht. Sie müssen individuell beweisen, dass Konkurs die bessere Lösung ist als die Pfändung oder der Eingriff von Gläubigern in das Existenzminimum.>>
Migrants have to expect difficulties in cases of renewal of permit, family reunion or naturalization. They must prove individually, that bankruptcy is the better solution than garnishment or the intervention in the subsistence level by the creditors.

I have no idea how you managed to get yourself into such a situation if you knew you had plans to bring your family here and it's none of my business either. But for sure you will not find the solution on an internet forum. You need professional advice. You can for example get it:
Caritas Schuldenberatung
Schuldenberatung Kanton Zürich they work together with "Baratungspunkt" at Metzgasse 2 in Winterthur. In this case not for woman only, I would suppose.

As to your personal state at the moment - being down, depressed etc. - which while subjectively understandable, it won't get you anywhere. The problem is selfmade = you have to solve it. It might sound harsh but the sooner you take that stand-point the better you will find a way to do just that. Solve it.

The other solution is run away, go back home to your family and never look back. Not sure that will make you feel better though.
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Old 13.02.2020, 15:40
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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There is a difference in personal and company bankruptcy. A lot of countries allow the last for example, but not the first.

Anyway, OP talked about bankruptcy. I gave him the short briefing of what bankruptcy in Switzerland is about so we can all be clear it is not a solution for him, so we might as well just drop the whole subject.
You don't understand, if you set up a company you often will have to give personal guarantees to your Bank for any loans or overdrafts & many suppliers will also not give credit without guarantees.
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Old 13.02.2020, 15:41
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Re: Coming out from my debt or filing bankruptcy .please help me to find out a soluti

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Be good if someone who is able to help or offer advice could do so.
Going bankrupt in the UK would solve the problem, I did mention it earlier in the thread.......
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