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Debt mitigation for individuals

For debtors in long term difficulties.

The law was adopted by parliament at the same time as the Act on Debtors’ Ombudsman in 2010.

Goal of debt mitigation is to seek a voluntary agreement with creditors.

If individuals fulfill the required conditions for debt mitigation, a legal representative will be appointed who will negotiate a contract on debt mitigation based. 

What is a debt mitigation agreement ? 

  • A debt mitigation agreement can be from 0 – 3 years.
  • Aims at the debtor keeping his home and car, if  he has the payment ability to do so .
  • Most agreements are for 100% reduction of claims 
  • An increase of agreements with payment suspensions and no reduction of claims.

Not all claims are included in debt mitigation

  • Excluded for example:    
    • Certain types of tax debt
    • Child support
    • Student loans

Act on Debt mitigation for individuals

If you are not sure what your next step should be you can contact us and a counselor will contact you by phone 

Contact us

Application for financial advice

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