Every fifth person who takes out a loan does so to pay bills (electricity, gas, rent). We also use additional financing for unexpected everyday expenses, such as car repairs, washing machines, and refrigerators, according to an Ipsos study commissioned by Wonga. We also borrow money to cover seasonal purchases (school supplies or buying clothes). Meanwhile, when faced with financial problems, many people bury their heads in the sand and do nothing to solve them, which usually...

Less than a month has passed since the launch of the Early Warning program by PARP and the Family Business Foundation, and 16 entrepreneurs from all over Poland have already signed up for it. The project is a pilot project and will end in 2023. To participate in the program, simply fill out a simple form on the website www.parp.gov.pl, describing the problems the company is struggling with and choosing the consultant the entrepreneur wants to work with. Profiles of consultants - business psychologists,...

As many as 82.5% of Poles do not consider having debts to be shameful. Only 13.6% consider any loan to be something to be ashamed of. This is probably due to the fact that after 28 years of political transformation, we are joining Western European countries, where it is natural to take on financial obligations. However, when Poles are asked about specific forms of debt (mortgage, car loan, credit card and others), the attitude of respondents towards debt changes. Fewer people claim that all...

Native entrepreneurs who see signs of crisis in their business activity can apply for the Early Warning program implemented by the Polish Agency for Enterprise Development (PARP) and the Family Business Foundation. It is intended to teach them how to recognize that a threat to the company is approaching - and to indicate possibilities for getting out of trouble. - Entrepreneurs will receive free help from consultants - business and restructuring advisors - who...

The new restructuring law, in force since 1 January 2016, gave priority to remedial actions over liquidation of the company. The new regulations not only help save companies from bankruptcy, stop enforcement by bailiffs and termination of previously concluded contracts by banks, but also provide debtors with protection against the sale of assets for next to nothing and protect jobs. According to the new law, restructured companies can also apply for public aid, e.g. in the form of arranging...

Yesterday, President Andrzej Duda signed an amendment to the Pharmaceutical Law, already known as "Pharmacy for Pharmacists". In light of the newly adopted changes, a permit to run a public pharmacy will be available to pharmacists with the right to practice the profession, running a sole proprietorship, and general partnerships or professional partnerships whose subject of activity is exclusively running pharmacies and whose partners are exclusively pharmacists with the right to...

Such a positive example is the company Fiten SA, which has been undergoing restructuring proceedings since August 2016. The company's management board, together with the administrator, the law firm PMR Restrukturyzacje SA, concluded an agreement in mid-April this year with the banks financing the company - ING Bank Śląski and mBank. It signed two agreements with them - for a revolving credit in the amount of PLN 3 million and a working capital credit in the amount of PLN 500 thousand. - Concluding an agreement with the banks and obtaining further financing...

New confiscation laws coming into effect this week will allow the state to seize companies used to scam or hide the proceeds of crime. However, owners of such companies could lose control of them long before a final conviction for fraud – as soon as the investigation begins. It will all depend on the prosecutor. If he is convinced that the case will end in a conviction and there is a good chance of a verdict...

More and more people want to declare consumer bankruptcy. You can do so if you have incurred debts, for example, due to illness or accident, and not by taking out a loan on credit. In the first quarter of this year, district courts that handle consumer bankruptcy cases (in our region, Bydgoszcz and Toruń) issued 69 such decisions. In the whole of 2016, there were 404 of them. "The purpose of consumer bankruptcy is to discharge a person's debts, and satisfying creditors is secondary," emphasizes Małgorzata Anisimowicz, president of the law firm...

Contrary to popular belief, consumer bankruptcy is not something to be afraid of. For a debtor who is unable to repay the loans they have taken out, harassed by enforcement and fending off bailiffs, this is the only chance to escape the debt spiral. However, before filing for bankruptcy in court, it is worth knowing how to prepare for it in order to avoid mistakes and unpleasant legal consequences. - The purpose of consumer bankruptcy is to discharge the consumer's debt, and the satisfaction of creditors is relegated to the background. And this...