What has changed?
Do you have problematic debts? You can have access to statutory debt restructuring under the Natural Persons Debt Restructuring Act (Wet schuldsanering natuurlijke personen, Wsnp) after 3 years, if you have shown an adequate level of effort in reducing your debts and preventing new debts. This the so-called good faith test. The period before you can enter Wsnp was 5 years.
The Natural Persons Debt Restructuring Act Wsnp is a legal trajectory to resolve debts. This is called statutory debt restructuring. The Wnsp is only meant for natural persons. This means that for instance a sole proprietor or partners in a general partnership can make use of this debt restructuring trajectory.
- entrepreneurs who have problematic debts
This change in the Bankruptcy act has entered into force on 1 July 2023