Consumers in Switzerland can easily obtain a credit card, a leasing, or a consumer loan of several ten thousand of Swiss francs to buy a car or pay for urgent surgery for a relative abroad. The bank usually grants the loan without imposing strict requirements. The debtor can repay the loan and the high interest rates over several years as long as the financial situation allows.
But what if the debtor’s life situation changes? The high effective annual interest rate and long terms often lead to over-indebtedness.
Divorce, unemployment, accident, or illness are strokes of fate that can also change a person’s financial situation. If the debtor falls behind with repayments of debts, the gauntlet begins: interest rates rise, fees and enforcement costs are incurred. This is followed by collection proceedings and debt enforcement.
Are you looking for an experienced lawyer in Zurich? Lawbility Rechtsatelier® offers legal advice and develops strategies and valuable solutions to helps clients to get debt-free. It supports those affected and negotiates with the financial institution and creditors regarding installment plans, debt relief procedures, or a possible suspension of reminders and debt release. A repayment agreement then makes it possible to settle the remaining debt and make a fresh start. Lawbility Rechtsatelier® takes over the negotiation and mediation with the lender. This avoids court proceedings, debt collection, and law enforcement.