Hello, I’m Attorney Avital Horef. Have you run into financial difficulties? Are you unable to pay your debts? You may be eligible for insolvency proceedings or another legal process that can help you recover financially.
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Avital Horef is a licensed attorney specializing in insolvency and enforcement proceedings.
The past year has brought many employees and self-employed individuals into financial hardship following the COVID-19 pandemic, but even before then, many people accumulated debts and were declared bankrupt. When a person reaches this situation, their debts to creditors are arranged through the Enforcement Registrar when the debt is between ₪50,000 and ₪150,000, or through the court.
In either case, the debts are spread through a convenient payment arrangement that sets a reasonable monthly payment based on the debtor’s financial capabilities until the debts are fully repaid. Insolvency is declared when the debtor is unable to meet even the agreed payment arrangement, by submitting an application.
How Does the Insolvency Process Work?
As noted above, when a debtor is unable to meet the monthly payments that were established, they must submit an application to the Enforcement Office. This can be done independently by completing the appropriate form, but the general recommendation is to use the services of an insolvency attorney in Tel Aviv if you live in the central region, or an insolvency attorney in Jerusalem if you live in the capital or its surrounding areas. In any case, it is important that the attorney be an expert in the field with extensive experience. Professional and skilled legal representation can help you, as a debtor, obtain the best repayment terms available to you and move step by step toward the desired discharge of your debts.
When Is It Legitimate to File an Insolvency Application?
When the debtor’s total debts exceed the value of all their assets – including money held in the bank, real-estate assets, and/or any other property – and their monthly income does not allow them to meet the payments that were established, the available option is to apply for a reduction of the total debt, in other words, insolvency.
As noted above, it is highly recommended to carry out the process with the assistance of an attorney who specializes in the field. Ultimately, the process can also benefit creditors, even though this may not appear so at first glance, because receiving some repayment of the debts is preferable to receiving no repayment at all.
Facing Bankruptcy? Contact an Attorney Today
We are a law office led by Avital Horef, a licensed attorney and mediator. We specialize in family, administrative, real-estate, and civil law, and provide reliable, first-class professional service backed by extensive experience in many areas, including bankruptcy and all related proceedings. At Avital Horef’s office, we will listen to you, carefully assess your situation and capabilities, and help you work toward the best possible outcome for your difficult circumstances. We are pleased to assist you.
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Call 077-8038034 or leave your details and I will get back to you shortly.
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או השאירו פרטים ואחזור אליכם בהקדם
התקשרו 077-803-8034 או מלאו את הפרטים הבאים ואצור אתך קשר בזמן שמתאים לך, שעות הפעילות הן מהשעה 09:00 עד 23:00
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התקשרו 077-997-7757 או מלאו את הפרטים הבאים ואצור אתך קשר בזמן שמתאים לך, שעות הפעילות הן מהשעה 09:00 עד 23:00
השדות המסומנים ב-* הם שדות חובה. פרטיות: לא נשתמש או נעביר את המידע האישי שלך.
Call 077-997-7757 or fill in the details below and I will contact you at a time that suits you. Office hours are from 09:00 to 23:00.
Fields marked with * are required. Privacy: We will not use or transfer your personal information.
Fill in your details and I will contact you today.
(The consultation is free of charge)
Fields marked with * are required. Privacy: We will not use or transfer your personal information.
