Best Bankruptcy Lawyers in Réunion

About Bankruptcy Law in Réunion:

Bankruptcy law in Réunion is governed by the French legal system, as Réunion is an overseas department of France. Bankruptcy, also known as insolvency, is a legal process that allows individuals or businesses to seek relief from their debts when they are unable to repay them. The main goal of bankruptcy in Réunion is to provide a fresh start for the debtor while ensuring fair treatment for creditors.

Why You May Need a Lawyer:

Bankruptcy can be a complex legal process, and having a lawyer who specializes in bankruptcy law can help ensure that your rights are protected. You may need a lawyer if you are facing overwhelming debt, are being harassed by creditors, or are considering filing for bankruptcy. A lawyer can help you understand your options, navigate the legal system, and represent your interests in court.

Local Laws Overview:

In Réunion, bankruptcy proceedings are governed by the French Commercial Code. There are several types of bankruptcy proceedings available, including liquidation and reorganization. When a debtor files for bankruptcy, a trustee is appointed to oversee the process and ensure that creditors are treated fairly. Debts may be discharged through bankruptcy, but not all debts are eligible for discharge.

Frequently Asked Questions:

1. What are the different types of bankruptcy in Réunion?

There are several types of bankruptcy proceedings available in Réunion, including liquidation, reorganization, and simplified liquidation.

2. How does bankruptcy affect my credit score?

Bankruptcy will have a negative impact on your credit score, but it can also provide an opportunity to rebuild your credit over time.

3. Can I keep any assets if I file for bankruptcy?

Depending on the type of bankruptcy you file for, you may be able to keep certain assets, such as your home or car.

4. How long does the bankruptcy process typically take in Réunion?

The bankruptcy process can vary depending on the type of bankruptcy you file for and the complexity of your case. It can take several months to several years to complete.

5. Will I still owe any debts after filing for bankruptcy?

Not all debts are eligible for discharge through bankruptcy. Certain debts, such as child support or student loans, may still need to be repaid.

6. Can I file for bankruptcy on my own, without a lawyer?

While it is possible to file for bankruptcy without a lawyer, it is not recommended. A lawyer can help you navigate the complex legal process and ensure that your rights are protected.

7. Will I lose my job if I file for bankruptcy?

It is illegal for an employer to discriminate against you for filing for bankruptcy. Your job should not be at risk solely because you file for bankruptcy.

8. Can creditors still contact me after I file for bankruptcy?

Once you file for bankruptcy, an automatic stay goes into effect, which prohibits most creditors from contacting you or seeking to collect debts from you.

9. How much does it cost to file for bankruptcy in Réunion?

The cost of filing for bankruptcy can vary depending on the type of bankruptcy you file for and the complexity of your case. There are court fees and legal fees associated with filing for bankruptcy.

10. What are the consequences of not following the terms of my bankruptcy agreement?

If you fail to follow the terms of your bankruptcy agreement, your bankruptcy case may be dismissed, and you may still be responsible for your debts. It is important to comply with the terms of your bankruptcy agreement to receive a discharge of your debts.

Additional Resources:

If you are in need of legal advice in bankruptcy in Réunion, you can contact the Bar Association of Réunion for a referral to a qualified bankruptcy lawyer. The Court of Appeal in Saint-Denis also provides information on bankruptcy proceedings in Réunion.

Next Steps:

If you are facing overwhelming debt and are considering filing for bankruptcy in Réunion, it is important to seek legal advice as soon as possible. A bankruptcy lawyer can help you understand your options, navigate the legal process, and ensure that your rights are protected throughout the bankruptcy proceedings.