{"id":69267,"date":"2018-08-14T15:31:49","date_gmt":"2018-08-14T13:31:49","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/collective-debt-settlement\/"},"modified":"2026-01-14T23:09:20","modified_gmt":"2026-01-14T22:09:20","slug":"collective-debt-settlement","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/collective-debt-settlement\/","title":{"rendered":"Collective debt settlement"},"content":{"rendered":"\n<p><strong>Collective debt settlement<\/strong> is a <strong>legal procedure <\/strong>that a <a href=\"https:\/\/tcm.be\/en\/debtor-definition\/\">debtor<\/a> can resort to if they have <strong>structural debt issues<\/strong>. By referring the matter to the <strong>commercial court<\/strong> , they will be able to stabilise their financial situation and guarantee the repayment of their debts wherever possible, all while being able to continue to live under dignified conditions.<\/p>\n\n\n\n<p><strong>Collective debt settlement<\/strong> can take two forms: the <a href=\"https:\/\/tcm.be\/en\/amicable-recovery\/\">amicable<\/a> method, where the parties agree on the details, amounts and other matters in a way that best suits them; or <a href=\"https:\/\/tcm.be\/en\/judicial-recovery\/\">judicial recovery<\/a> , imposed by the judge on all parties after they have failed to agree.<br><br>It should be noted that this <strong>collective debt settlement<\/strong> procedure does not apply to companies but only to non-traders such as employees, the unemployed, farmers, and people exercising liberal professions.<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69267","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}