In addition to being a legally accepted mechanism, the insolvency law provides many other advantages and benefits for you: 

• Comprehensive debt negotiation: it means sitting down all creditors in a single meeting, in which the debtor's situation is analyzed and all available assets and revenues are disclosed, in order to reach settlements. Public or private institutions may be involved.
• Legal soundness: no new executive proceedings may be initiated once the request has been accepted, and any such proceedings already in progress will be suspended at such time.  
• Economic agreement: the hearing will provide an opportunity to discuss a payment proposal or negotiate new proposals that allow the settlement of all obligations. 
• It is ideal and professional: the insolvency service is led by highly trained attorneys, specializing in different areas.