Step 4 of 5

Settle your debts

Does it look like you will and up with problematic debts after ending? Work on a solution. Choose the trajectory suited to your situation, using the step-by-step plan Dealing with debts.

Step 4 of 5: Find a solution for your debts

Will you still have debts after ending your business? Explore the various solutions. Use the step-by-step plan for debts to find a path that suits your situation.

A step-by-step plan for debts

This step-by-step debt plan will help you better understand all your debts and see what options there are to solve them. Your approach will also depend on the legal form of your company.


You can solve your debts through an amicable settlement or legal procedure.

Amicable settlement

Ask the debt counsellor at your local municipality if you can resolve your debts in an  amicable settlement .

Avoid bankruptcy with the WHOA

Since January 2021, entrepreneurs can more easily reach an agreement on a debt settlement with the Court Approval of a Private Composition (Prevention of Insolvency) Act (Wet Homologatie Onderhands Akkoord or WHOA). This is possible without the agreement of every creditor. That can save you a lot of worries.

Natural Persons Debt Rescheduling Act (Wsnp)

If the debts cannot be solved, you will begin the legal procedure of the Natural Persons Debt Rescheduling Act (Wsnp). Otherwise, bankruptcy follows.

KVK Advice Team

Do you have questions about preparing for your business closure? Then contact the KVK Advice Team and call 0800 21 17.