Execution in Future? Unification of Execution Documents and Payment Schedule for Debtors

On 25 February, 2016, the Presiding Board of the Chamber of Bailiffs introduced the main points of a new scheme it is to implement legally. What, then, are the changes in the execution process we can expect?Generally, there are two main discernible themes – increasing the efficiency of the execution process (e.g. by interconnection of the execution and insolvency proceedings, unification of existing execution documents etc.) and promotion of the debtors' protection. Should the Chamber succeed, the debtors will be able to make use of a protected payment process directed by a court bailiff/executor; it means they will be able to settle their minor debts following a payment schedule before the commencement of the execution process without the consent of the creditors. This scheme ought to safeguard the debtors from paying the execution costs exceeding several times the value of the debt.