In this video, Jacqueline explains how the first two phases of the debt counseling process go.
The first phase is the stabilization phase. The objective of the stabilization phase is to create a stable financial basis for the entrepreneur. This means that the entrepreneur earns enough to pay the fixed costs and also has an amount that can be used to pay off the debts. The stabilization phase lasts around 4 months. If it has been established that the entrepreneur is (financially) stable, the process continues to the second phase: the verification phase.
In the verification phase, we find out how much debt the entrepreneur actually has. This is easier said than done. The entrepreneur's accounting is usually not in order. That is why we check with the creditors for all outstanding accounts whether the amount is correct. We also look at whether securities have been established. For example, has delivery been made under retention of title? Has a right of pledge been established by the bank?
In addition, during the verification phase, we look at how much of the income can be left over to pay off the debts. For entrepreneurs who can continue with their business, the majority of this income comes from a new loan like it BBZ credit. It is calculated what they will earn over the next 3 to 5 years and how much can be used to pay off the debts. The period for paying off debts with starting entrepreneurs therefore lasts 3 to 5 years. Entrepreneurs who cannot continue with their business should apply for a salaried job. A so-called Vtlb calculation is then made based on their benefit or salary. Vtlb means "Amount to be released". This amount is the part of the salary that the former entrepreneur is allowed to keep. The rest will be used to pay off debts. For ex-entrepreneurs, the period for paying off the debts takes 3 years.
At the end of the verification phase, we can make a clear prediction of how much the (former) entrepreneur can repay. We propose this amount to creditors, asking us to cancel the rest of the debt. This proposal is called a remediation proposal.