Debt Relief
Q. I can't repay my credit card debt. What should I do?
A.
Three options: voluntary arrangement, rehabilitation, or bankruptcy. Never borrow to repay debts.
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Options: voluntary arrangement (negotiate with creditors), personal rehabilitation (reduce to 1/5-1/10), or bankruptcy (full discharge). If interest exceeded legal limits (15-20% annually), overpayment refunds may apply. Never borrow to repay. Call Legal Aid Japan: 0570-078374.
This article provides general legal information and does not constitute legal advice. For specific legal issues, please consult with a qualified attorney.
Related Questions
Q. What happens when you file for personal bankruptcy? What are the downsides?
Q. What is individual rehabilitation (kojin saisei)?
Q. What is the statute of limitations on debt? What is invocation of prescription?
Q. What is voluntary debt arrangement and how does it differ from bankruptcy?
Q. Can my wages be garnished for unpaid debts?
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