The bankruptcy tricks

How to become debt-free without paying a cent

The mega-bankruptcy of René Benko's Signa empire has put insolvency law back in the spotlight. Even experienced creditor protectors have had little joy with a number of innovations in recent years. For example, there are bankrupts who manage to get away with a zero percent rate.

Around 6,000 corporate insolvencies and almost 10,000 private insolvencies are forecast in Austria by the end of the year; an average of 1,000 of these come from Carinthia. And it was there that one of the most important state creditor protection associations was founded 100 years ago - an anniversary that is cause for celebration, but also for criticism of the insolvency code.