Referral to the over-indebtedness commission should be made at the Banque de France branch in your region. To constitute your file, you must send the following elements:
You can request a special form from the Banque de France counter in your region. The commission will study the various elements that you have provided and will give its opinion on whether or not to continue the procedure.
If your file is deemed admissible, it will initiate step two: the amicable procedure . In rare cases the commission, considering that no financial solution is possible, directs your file towards a personal recovery procedure.
If you are not judged in good faith, or if the state of your situation is not considered to be over-indebted , your case will be deemed inadmissible . In this case the procedure ends there, but you can still exercise an appeal.
In relation to your creditors, the commission will try to find a satisfactory agreement for you.
This can be done in the form of a renegotiation of your credits in terms of postponing certain maturities, a drop in the interest rates of current credits and, very rarely, a reduction in your credits.
In return, you may have to reduce your debt by selling one of your goods.
The commission will therefore propose to the 2 parties a conventional recovery plan.
If there is an agreement between you and the creditors, the plan can therefore be put in place. The procedure ends there.
Note that you will no longer be able to make new loans until the end of the debt ( registration in the national FICP file managed by the Banque de France).
If the reorganization plan has not been accepted by one of the parties, you can ask the commission to recommend to the judge measures to adjust your debts. He can take all or part of the recommendations of the amicable agreement and impose them on you as well as on the creditors.
Either the judge believes that your situation can be improved and he makes proposals to increase the duration of your repayments (debt spreading), to reduce interest rates, to sell your property even if this does not purify not completely your debts ...
Either he thinks you are insolvent and in this case he can recommend a moratorium (maximum 3 years) during which you no longer reimburse anything. Your situation will then be reviewed only after this "repayment pause" and he will then be able to decide the total cancellation of your debts.