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Bankruptcy of natural people

Get to know this procedure in depth and find out which documents or requirements will be needed in order to request this service at the Fifth Notary of Manizales.

What is the bankruptcy of natural people?

“The economic insolvency regime” allows any natural person who is in a difficult economic situation and who has not been able to pay their debts, to negotiate again a payment agreement, the amount and the terms to cancel their entire debt.


  • National ID Card.
  • Contact the Notary beforehand.


Who does this insolvency regime cover?

To any natural person who is not a merchant, or who belongs to any activity that is considered commercial.

Who is NOT covered by this insolvency regime?

People with an administrative or control job in a company or business group.

What should I do to start the insolvency process?

You must meet at least one of the following characteristics:

  • Being in default on two or more debts with different creditors.
  • That at least two executive processes are being carried out against you. In this case, the value of the obligations must be at least 50% of the total of your debts or liabilities.

What happens when my application is accepted?

When it is accepted, the creditors cannot initiate any new executive process against you. The processes that are already in progress on the part of the creditors are suspended, interrupting the expiration and the prescription of the actions in relation to the enforceable debts.

Let us know how we can help you.

Carry out your procedures online or, if you prefer, carry out your notarial procedures directly at the Fifth Notary of Manizales.

Confidence in yourself is the first secret to success. The second is to arm yourself with transparent allies who take care of you and document the most important steps in your life.
At the Fifth Notary we are trustworthy!

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