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Personal bankruptcy

Personal bankruptcy is a type of court proceeding that allows an insolvent consumer for declaring bankruptcy. Its objective is, most of all, a consumer's debt reduction and a method of satisfying his or her creditors. The proceeding in declaring a personal bankruptcy is a court procedure, where the consumer must satisfy several conditions, evaluated by the court reviewing the application on individual basis. There are many situations where declaring a personal bankruptcy may turn out the best solution for a Client.

They include:

debt reduction, splitting a portion of debt into instalments,

suspension of interest charging,

suspension of enforcement, collection and prejudicial procedure,

removal from the register of debtors.


Knowledge of legal regulations, also legal and financial consequences, as well as a support of a good lawyer, are a guarantee of making an informed decision when filing such as application. Currently we face poor quality of legal advisory services as regards bankruptcy procedures, in particular for individuals. Incorrect legal advices provided to insolvent persons, in particular to entrepreneurs, are a frequent case.

Declaring an individual's bankruptcy is not only drawing up a valid document, but most of all analysing the feasibility of filing an application and the outcome of declaring bankruptcy for the debtor’s assets, as well as for other persons in his or her household, in particular the spouse.

The practice of the Tywoniuk & Partners Legal Firm includes specialised advisory services for individuals during the personal bankruptcy court procedure and our team shall provide the Clients with advice on efficient use of the bankruptcy procedure for individuals that do not run business operations.