Over-indebtedness: what are you talking about?
The Banque de France defines over-indebtedness as follows:
A person is said to be over-indebted when they can no longer meet their personal (non-professional) debts.
In each department, a commission is responsible for examining the files submitted.
Concretely, when his file is accepted by the over-indebtedness commission, an over-indebted person
temporarily benefits from several protective measures: the suspension of proceedings (seizures, etc.), penalties and late payment interest, the suspension of the payment of debts or even the capping of banking incident costs.
At the same time, the Banque de France proposes solutions and submits them to the committees for decision. These solutions consist of a reorganization or cancellation, total or partial, of the debts.
Over-indebted people are registered in the FICP (File of Incidents of Reimbursement of Credits to Individuals)
for a maximum period of 7 years.