Debt arrangement options

You can choose between a number of options when arranging your company's debts. The form of your business and the extent of its financial difficulties are the factors that you should consider when selecting the method. 

Advice for selecting the right method is available in the Yrittäjän talousapu counselling service and in your regional business development company. 

Preparing a payment plan

If your company’s payment problems are temporary, you can try to negotiate debt arrangements directly with your company’s creditors. Contact your creditors yourself and draw up a plan for paying your company’s debts separately with each of them.

Debt arrangement for a trader

If you are a private trader and your company’s payment problems persist, you can seek a debt arrangement for a trader. In this option, both your company's debts and your personal debts are arranged with the help of a payment programme.

Note that the debt arrangement for a trader cannot be used by limited liability companies, general partnerships, limited partnerships or cooperative.

Corporate reorganisation

If you need more extensive measures to get your company's finances in order, apply for corporate reorganisation.   A reorganisation programme aimed at rehabilitating your company on a comprehensive basis, is prepared for your company therein. Corporate reorganisation is suited for all forms of business.

There are different reorganisation procedures

• Early reorganisation proceedings
• Accelerated reorganisation proceedings
• Traditional reorganisation proceedings.

Starting restructuring depends on the extent of your company's financial difficulties.

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