Two requirements are extra important
We investigate two of the requirements more than the others. These are about your debts and your ability to pay them, and whether a debt restructuring is reasonable.
Are you able to pay your debts?
First, we go through all the circumstances that may affect whether you will be able to pay your debts in the future. There is no limit to how small or large the debt needs to be. Instead, we look at your total debt in relation to what you can pay. Your ability to pay is influenced by many different factors, including:
Is a debt restructuring reasonable?
We also make an assessment of your personal and financial circumstances to determine whether a debt restructuring is reasonable. We especially look at:
Initial decision
If you meet the requirements, we decide to initiate debt restructuring.
One step along the way
The decision to initiate debt restructuring is one step on the way to debt restructuring. The initial decision means that you have the prerequisites to have your application for debt restructuring approved.
Start paying
You must make the first payment the month after the decision. If that month is June or December, wait another month. The reason is that June and December are payment-free. The decision states how much you have to pay each month.
What you pay depends on several reasons
The size of the amount depends on your ability to pay. We calculate how much you and your family need to support yourselves. It could be that you don't pay anything at all. If so, those you owe money (your creditors) will not get paid.
The amount may also be changed in the course of the proceedings. That's because we don't have all the information about your finances at this stage. You can calculate approximately how much you get to keep.
When we decide to initiate
We announce the decision to initiate debt restructuring by an advertisement in the Swedish Official Gazette (Sw. Post- och Inrikes Tidningar) on the Swedish Companies Registration Office's website.
We also contact those who want to get paid, meaning known creditors, directly. The purpose is for them to notify us of their claims. They may also report debts that you may have failed to include in your application.
A debt restructuring includes all debts you have when we decide to initiate your debt restructuring. You can find more information on the page Proposal and decision.
Proposal and decision on your debt restructuring
Attachment ceases
The decision to initiate debt restructuring also normally means an end to any attachment of your income.
Our investigation continues
Following the decision to initiate debt restructuring, we conduct a more comprehensive investigation. The investigation eventually leads to a proposal on how to proceed with your debt restructuring.
New debts during the turnaround time
It is important that you do not incur new debts even if you experience temporary payment problems following the decision to initiate debt restructuring.
Pay attention to
You should pay particular attention if you have a housing allowance, for example, as you may be liable to repay later if you get too much. If you have a tax adjustment, it is important that it, too, is correct.
Important to know
Only debts that existed before we made the decision to initiate debt restructuring are included. Debts that you incur after the decision is not included in your debt restructuring. You need to pay those in full. It is therefore important that you do not incur debts during your debt restructuring.
If you receive a claim after your application
If you receive a claim after submitting your application for debt restructuring, but before you have a decision on debt restructuring, you need to consider the claim.
If you accept a claim for payment (order), you need to notify us at debt restructuring. Then we can await the decision (verdict) on the claim before deciding on debt restructuring. That way the debt can be included in your debt restructuring.
If you object to the claim, the case may go to court. Since the claim is disputed (meaning, you and the one who wants to be paid do not agree), it is not included in your debt restructuring.
How to object to the claim
You can object by emailing or writing us a letter telling us why the claim is incorrect. It is important that you object in time — the deadline for responding is stated in the claim letter.
Debts in another country
Foreign debts are subject to Swedish debt restructuring under the same terms and conditions as other debts. A debt restructuring initiated as from 26 June 2017 is valid throughout the EU, except in Denmark. This means that debts included in your Swedish debt restructuring cannot be collected within the EU, except in Denmark. Debts originating outside the EU and subject to a Swedish debt restructuring decision can still be collected in non-EU countries.
A Swedish debt restructuring initiated before 26 June 2017 is still only valid in Sweden.
Remember
Once the debt restructuring is initiated, you pay directly to us. If you lack ability to pay, you must not pay anything at all. Sometimes, some debts are not included in the debt restructuring. You must continue paying off these debts. If this is the case, you will receive information from us.
Please note that you must continue to pay your regular bills, such as rent, electricity and telephone bills, and any child maintenance.
If you have pledged your residence as security for a debt you are paying off, you must continue to pay the debt in the same way as before.
Debt restructuring more than once
You can get another debt restructuring, even if you've had debt restructuring in the past. But you need special reasons to be eligible for debt restructuring again. Few people are granted debt restructuring a second time. We especially look at the reason why you have incurred new debts and whether your conditions for remaining debt-free have changed.
If you have previously had debt restructuring that was cancelled (rescinded), we look at the reason why it was cancelled. We also look at whether your conditions for becoming debt-free have changed.
Record of non-payment
You will receive a record of non-payment from the credit reporting agencies when we decide to initiate your debt restructuring.
Read more on the Swedish Authority for Privacy Protection's website: