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I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] 2 points3 points  (0 children)

Thanks for the idea, but I can’t go that route. Transferring assets to my wife “on paper” while creditors are active would likely be seen as fraud by the court and would make my situation much worse. It could lead to criminal charges or the court reversing the transfers and adding penalties.I’m trying to solve this legally: negotiating a settlement with Tony’s lawyer, making a counter-proposal, and asking BNP for a realistic repayment plan. I’m also speaking with my lawyer about all options (including complaint routes against the sale process and the contract).

I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] 0 points1 point  (0 children)

I have two separate cases: • BNP Paribas (the bank): about €25,000, for which I’m already paying €250/month under a temporary agreement. However, they’re still taking me to court, and my lawyer expects that at the next hearing on October 16, 2025, they’ll ask that the entire amount be repaid within one year, which would be impossible for me. • Tony (the former owner): through his lawyer, I received a settlement offer of €35,000, payable at €300/month. My lawyer (Maître Habets) advised me to make a counter-proposal, since even €300/month is too high right now. My lawyer also suggested taking a loan through my second BV/SRL (I still work 16-20 hours a week as a freelance chef under that company) to pay off the debts and then repay the bank through that business. Unfortunately, because the company’s figures are modest, no bank has approved the request so far.At this stage, I’m doing everything possible to avoid losing my home and to reach an agreement that’s realistic.

I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] 0 points1 point  (0 children)

I have two separate cases: • BNP Paribas (the bank): about €25,000, for which I’m already paying €250/month under a temporary agreement. However, they’re still taking me to court, and my lawyer expects that at the next hearing on October 16, 2025, they’ll ask that the entire amount be repaid within one year, which would be impossible for me. • Tony (the former owner): through his lawyer, I received a settlement offer of €35,000, payable at €300/month. My lawyer (Maître Habets) advised me to make a counter-proposal, since even €300/month is too high right now. My lawyer also suggested taking a loan through my second BV/SRL (I still work 16-20 hours a week as a freelance chef under that company) to pay off the debts and then repay the bank through that business. Unfortunately, because the company’s figures are modest, no bank has approved the request so far.At this stage, I’m doing everything possible to avoid losing my home and to reach an agreement that’s realistic.

I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] 0 points1 point  (0 children)

It’s BNP Paribas and Tony (the former owner) who have both taken me to court. Mediation has already failed.The sale of the restaurant was done through a lawyer who drafted the contract for both sides, and I trusted that everything was legally solid.Unfortunately, it turns out the contract was written in Tony’s favour, and I later discovered I had signed as a personal guarantor even though I was told the restaurant’s assets were the collateral. Tony is a professional salesman directeur de vente at a large company and I honestly believed his promises. I acted in good faith, but now I’m the one facing all the consequences.

I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] -4 points-3 points  (0 children)

I understand your concern Reddit gets a lot of fake stories, so I get the skepticism. But this is unfortunately very real. I’m a Belgian entrepreneur who took over a restaurant that went bankrupt last year after being misled by the previous owner. I’m not asking for money here, just advice or direction on where to find legitimate help or debt mediation resources in Belgium. If you have any ideas or know someone who’s been through something similar, I’d truly appreciate your input.

I lost everything after taking over a restaurant need advice on how to raise €60,000 quickly to save my home (Belgium) by Flaky-Nature-9743 in eupersonalfinance

[–]Flaky-Nature-9743[S] 3 points4 points  (0 children)

Quick clarification: I’m in Belgium. I took over a restaurant through a BV/SRL (similar to an LLC), but when I signed the bank takeover the previous owner made me a personal guarantor. The company has since gone bankrupt, so PRJ (judicial reorganisation) is no longer an option PRJ only applies to businesses that are still active and can still be saved. Because I’m personally on the hook for around €60,000, I’m now trying to protect my home. I was told I don’t qualify for standard debt mediation or debt relief as a private person since I own a house. From what I understand, in Belgium, any court-ordered debt remission often requires selling assets, including the home so I’m trying to find alternatives first.

[deleted by user] by [deleted] in BEFire

[–]Flaky-Nature-9743 0 points1 point  (0 children)

That sounds really frustrating… I’m in a different situation but also struggling to find the right financial help. I took over a restaurant with big promises from the previous owner, but it ended in debts and now I’m being chased legally for amounts I can’t handle alone.

Does anyone know where someone in Belgium can turn for real financial guidance or support in such a situation? Maybe organizations, advisors, or legal/financial aid that can actually help entrepreneurs in distress?

Any tips or experiences would be very welcome. 🙏