Once you have taken out a loan and are no longer able to pay your instalments, you can apply to the Enforcement Judge of the District Court for a suspension of your monthly payments. The judge will then take your financial situation and the needs of your creditor into account when deciding whether to defer or schedule payment of the amounts due for a maximum of two years. It may also decide that interest surcharges or penalties incurred as a result of the delay shall cease to be due during the period fixed. It is advised to bring proof to the judge of your serious difficulties to settle your loan due dates (job loss, divorce…). You can also prove that you are acting in good faith by offering to find a solution such as selling the property on loan or actively seeking employment.
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