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| BANKRUPTCY |
| It is a procedure to have you get an exemption (immunity) of responsibility about a remaining debt by realizing most property except daily necessities and paying the cash you have got by realization.
Advantage; There is no duty to pay your debt after you have got immune.
Disadvantage; Your credit information is carried for a certain period of time, and borrowing money is not possible for awhile. In addition, there is a limitation to become a certain occupation such as an insurance canvasser, a security guard, a Takken-Shuninsha (chief adviser for real estate contact), an apartment management supplier, etc...
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| CIVIL REHABILITATION |
| You have exempted your certain amount of debt by the court of law, and you will pay the rest based on around three year installment approved revival plan.
Advantage; you are allowed to pay the amount of debt for three year installment plan, which is recalculated by Interest Restriction Act and reduced further by the Civil Rehabilitation Act to around a one-fifth / minimum 1,000,000 yen. You can also keep your own house.
Disadvantage; your credit information is carried for a certain period of time, and borrowing money is not possible for awhile.
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| SPECIFIED MEDIATION |
| On the purpose of avoiding debter's bankruptcy, it is a procedure of a debtor and creditors talking each other and finding a compromise, reducing the total sum of the debt (sometimes finding a installment plan, with no reduction of debt).
Advantage; Interest is exempted after filing. When you have been paying limit excess interest, you can make a mediation plan that you can pay the debt that the interest is recalculated as to Interest Restriction Act.
Disadvantage; your credit information is carried for a certain period of time, and borrowing money is not possible for awhile. And it's common not to reduce any amount of money from the principal that is recalculated as to Interest Restriction Act.
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| VOLUNTARY ARRANGEMENT |
| On the purpose of avoiding debtor's bankruptcy, it is a procedure of a debtor and creditors talking each other and finding a compromise, reducing the total sum of the debt (sometimes finding a installment plan, with no reduction of debt).
Advantage; Interest is exempted after filing. When you have been paying limit excess interest, you can make a mediation plan that you can pay the debt that the interest is recalculated as to Interest Restriction Act.
Disadvantage; your credit information is carried for a certain period of time, and borrowing money is not possible for awhile. And it's common not to reduce any amount of money from the principal that is recalculated as to Interest Restriction Act.
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| VOLUNTARY ARRANGEMENT |
| We talk with your creditors without using public agencies such as court of law, and reconcile about reduction of your debt, part cut of interest, a payment plan, and it is a procedure, demanding reconciliation.
Disadvantage; your credit information is carried for a certain period of time, and borrowing money is not possible for awhile.
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