Finding your own solutions
When times are temporarily tough financially, you can solve debts yourself. KVK (in Dutch) shows that entrepreneurs do all sorts of things to solve debts themselves. For example, using savings, taking out a loan from family, taking a paid job or asking for payment deferral.
Liability for debts
You may only be liable for debts with your business capital, or only with your private capital. In some cases, you can be liable with both. For example, if you have a bv (private limited company) and you have co-signed as a private individual on certain matters. You can also have more than one legal structure, for instance an eenmanszaak (sole proprietorship) and a bv. There, too, you may find yourself in a situation where you are liable both personally and as a business.
Solving debts per legal structure
View the solutions for solving your debts per Dutch legal structure.
- eenmanszaak (sole proprietorship)
- vof (general partnership)
- maatschap (professional partnership)
- cv (limited partnership)
- bv (private limited company)
- vereniging (association)
- stichting (foundation)
Do you have staff? Talk with your staff and involve them in finding solutions. Maybe you want to ask your staff for a salary reduction or you are thinking of reorganisation. In extreme cases, you may have to dismiss staff in order to continue your business. Firing staff comes with and costs.
After analysing your debts, you may also come to the conclusion that ending your business is the best solution for you. You can (perhaps partly) settle your debts from the proceeds of the sale of your company's assets. Read about what you need to do to end your business.
You do not have to solve your debts alone. Read who you can turn to for help in step 4.
KVK Advice Team
Do you have questions about debts and the situation you find yourself in? Contact the KVK Advice Team.