Insolvency service for non-commercial individuals

To opt for the insolvency service for non-commercial individuals, please keep in mind:

1. You must be an individual who does not carry out commercial or mercantile activities.
2. Be over 90 days in debts with two or more creditors.
3. Be based in Bogotá.

The following information must be provided in writing, in order to process your request:

• Payment proposal.
• List of creditors, with both overdue payments, as well as otherwise (banks, individuals, tax authorities, etc.).
• List of assets (certificates of ownership, history, deeds, etc.).
• List of legal proceedings, if any.
• Work, pension, or unemployment certificate.
• Money available for the payment proposal.
• Effective term of the marital union.
• Individuals under your charge and/or child support or alimony as set by conciliation or by court.

Steps for the insolvency service

• Request the service through our Web portal.
• Once the Center informs you the payable amount, you will have 5 work days to make payment.
• The proceeding will expire after 60 work days and may be extended for 30 days more.

If you have any doubts or questions, the Center provides free support and orientation in starting the proceeding and wording the request.

Procedure benefits for the debtor 

• This service is regulated by law, which ensures that it is serious and effective.
• It allows for the comprehensive negotiation of the debts. In one single meeting you will be able to negotiate with all your creditors (individuals or public or private companies that you owe money to).
• Once the request has been filed and accepted, all legal collection proceedings initiated against you will be suspended, all liens will be suspended.
• You will be able to protect the money you require for your monthly operational expenses.
• The negotiation must be approved by both the debtor, as well as by the majority of the creditors through a vote that is verified before the conciliator.

Contacts us to receive further information:

Gloria Marcela Vera Salazar
Attorney Center of Arbitration and Conciliation
Phone: 5941000 ext. 4616 
Mobile: 305 720 2796
Email: gloria.vera@ccb.org.co

Visit us at: http://www.centroarbitrajeconciliacion.com