§ 4-1. Voluntary debt settlement proposal: who writes it and who receives it
Machine-translated from Norwegian. The Norwegian text is the one that applies. Read the original in Norwegian.Norsk English العربية Polski Українська
The text of the law (unofficial translation)
§ 4-1. Debt settlement proposal (forslag til gjeldsordning)
What does this mean?
This section starts the proposal phase of a voluntary debt settlement. The debtor (the person who has the debt), possibly together with a helper, must write the proposal as soon as the deadline for the creditors to submit their claims has passed. The finished proposal goes to the enforcement officer. The enforcement officer checks that the content stays within the limits set out in § 4-2 to § 4-10. These limits concern, among other things, what the settlement can involve, what the debtor gets to keep, and how the money is distributed among the creditors.