January 17, 2025|
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|11 months agoNew Debt Relief Procedures to Help Bankrupt Swiss Residents
Switzerland introduces new procedures to help over-indebted individuals restructure debt and get a fresh start, including advisory services and creditor agreements.
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Generated IllustrationKey Takeaways
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- Switzerland is introducing new debt relief procedures for over-indebted individuals
- Two new procedures are being implemented: creditor agreements and reorganization proceedings
- Cantons must provide advisory services for indebted persons
By The Numbers
15%
Increase in Swiss company bankruptcies in 2024
11,506
Total company bankruptcies in 2024
They Said
"People who are unable to pay off their debts themselves have little chance of ever living debt-free again"