The details of your bankruptcy insurance.
Your monthly contributions entitle you to a bridge benefit for the first twelve months after bankruptcy. This will ensure that the financial consequences of bankruptcy are limited, enabling you to start up again as soon as possible.
Who is entitled to bridge benefit in case of bankruptcy?
Any self-employed trader, residing in Belgium and who is going bankrupt for the first time, is entitled to a benefit from bankruptcy insurance. This also applies to mandatories of companies that have been declared bankrupt, and non-traders, who have been granted a collective debt settlement by the bankruptcy court.
It goes without saying that you will have to have paid your social contributions in the year preceding the bankruptcy proceedings, and you cannot have any professional or replacement income. You have to file an application in the first quarter after the bankruptcy or discontinuation.
To what am I entitled?
Bankruptcy insurance entitles you to:
- Twelve months of child benefit and healthcare;
- A monthly benefit of €711.89 (without a family) or €854.28 (with a family) for a maximum period of two months. This amount will be reduced to €427.13 and €569.52 respectively during the following four months.
