Multiple Debt / Over-indebtedness
Situation where a person borrows from multiple lenders and cannot repay. Total lending cap is 1/3 of annual income. Resolution: voluntary arrangement, personal rehabilitation, or bankruptcy.
Statute Reference
貸金業法13条の2
FAQ
Q. What does Multiple Debt / Over-indebtedness mean?
Situation where a person borrows from multiple lenders and cannot repay. Total lending cap is 1/3 of annual income. Resolution: voluntary arrangement, personal rehabilitation, or bankruptcy.
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