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The press said that as many as one in six self-employed workers fears going bankrupt due to the corona crisis. If you are also not comfortable with it, can you still protect your private family home against possible creditors now? How do you arrange that and what are a number of points of attention?
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Risk with a sole proprietorship. If you do not work through a company, unfortunately, your private assets are not segregated and, in other words, you are responsible for all the debts you incur, including your professional debts.
A “worst-case scenario”. Should you then go bankrupt as a self-employed person, the trustee will be able to monetize all your properties to pay your creditors. In the worst case, you can therefore also lose your home...
The type of company matters! If you work through a company, your private assets are segregated if you work through a BV (BA) or NV, but not if, for example, you have a VOF or an old CommV. In that case, professional creditors can not only seize your CommV's machines and stocks, but — if necessary — also your private assets, including your home.
Through a notarial deed. If you want to secure your family home from creditors for as long as you live, you must file a so-called declaration of unseizability with your notary. To do this, he draws up a notarial deed that he then has registered at the competent legal security office (the former mortgage office).
For such a declaration of unseizability, you must take into account a cost of around €1,500.
Tip: A self-employed person in a secondary occupation can also make that statement.
Attention! However, your property is not protected by it.
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You will receive an invoice from a supplier for a delivery four years ago. Isn't that a bit long ago, do you still have to pay for it? What exactly does that work and what did the judge think of it in the end?
10/06/2025
One of your customers is not paying their bills and is in bad financial condition due to the ongoing coronavirus crisis. You are therefore considering having his goods seized quickly. However, does that make sense and, by the way, won't there be a new 'ceasefire' for bankruptcies anyway?
21/04/2025
No news, good news!
The law states that any undisputed invoice can be considered an accepted invoice and must therefore be paid by the customer. At least if you invoice a company, because different principles apply to invoices to private individuals. However, traders must protest the invoice in question within a reasonable period of time if they plan not to pay it.
Exactly what that reasonable period entails is not specified, but in practice, a period of approximately 2 weeks after receipt of the invoice is considered fair for timely protest (slightly longer for complex invoices).
The dispute can also take place in various ways, for example by registered mail or by e-mail. In any case, it's not a bad thing to mention in your Terms and Conditions how and when customers can protest invoices.
So far the formalities, but what if your customer disputes your invoice?
14/05/2025
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