§ 6-2. Revision (omgjøring) and cancellation (opphevelse) of a debt settlement (gjeldsordning) at the petition (begjæring) of a creditor (kreditor)
Machine-translated from Norwegian. The Norwegian text is the one that applies. Read the original in Norwegian.Norsk English العربية Polski Українська
In brief
- A creditor can ask for revision if the debtor's (skyldner) finances improve significantly during the period.
- Tax settlement: a refund is distributed among the creditors if they received too small a dividend (dividende); otherwise the debtor keeps it.
- If home prices rise sharply, the settlement can be revised, but the debtor keeps enough for a new home that meets their needs.
- In cases of dishonesty or gross breach of duty, the court (retten) can cancel the settlement.
The text of the law (unofficial translation)
§ 6-2. Revision and cancellation of a debt settlement at the petition of a creditor (fordringshaver)
What does this mean?
This section gives creditors whose claims are covered by the settlement the option of asking the court to change or end a debt settlement. The court can revise it if the debtor's finances improve significantly during the period. The debtor may have received a large one-off payment. In that case, all or part of the money can go to the creditors without revision proceedings being opened.
The tax settlement has its own rule. If the debtor gets a refund because too much advance tax was paid, the sum shall be distributed among the creditors if they received too small a dividend because of the error. If, on the other hand, the error led to the debtor keeping less than assumed, the debtor keeps the refund. Both rules apply regardless of how large the sum is.
The court can also revise the settlement if the home has increased so much in value, compared with the valuation (verdsetting) under § 4-7, that it seems unreasonable towards the creditors for the debtor to keep the entire increase. If the home must be sold as a result, the debtor is entitled to keep enough of the sale proceeds to make it possible to acquire a new owned home that meets the household's reasonable needs.
The most serious response is cancellation. If the debtor has been dishonest or has grossly breached their duties under the settlement, the court can cancel it at the petition of a creditor.
This section is the counterpart to § 6-1, where the debtor themselves asks for a change. Before the court examines the case, the debtor and affected creditors are given the opportunity to comment under § 6-3. Under § 6-4, the debtor must also notify the creditors and the enforcement officer (namsfogden) within a reasonable time when something may give grounds for revision. The deadlines are set out in § 6-5. Revision must be petitioned for while the period is running and within two months after the debtor has given such notice, while cancellation must be petitioned for within one year after the period has ended.
- § 4-7Valuation of the home and other assets you keep
- § 6-1Change of debt settlement at the debtor's petition
- § 6-3Court hearing (rettsmøte) on changing a debt settlement
- § 6-4The debtor's duty to notify the creditors of improved finances
- § 6-5Deadlines for asking for a change to a debt settlement