Velkajärjestelylle

Velkajärjestelylle is the allative form of velkajärjestely in Finnish, used in formal and legal language to indicate the target or recipient of an action—such as “hakemus velkajärjestelylle” (an application for a debt arrangement). The noun velkajärjestely refers to a court-supervised process under Finnish law that enables individuals with unmanageable debt to reorganize their obligations through a structured plan agreed with creditors.

Velkajärjestely is designed to help a debtor avoid bankruptcy by proposing a sustainable repayment arrangement. The process is typically initiated by an application to the district court (käräjäoikeus). If the court finds the applicant eligible, it may appoint an administrator or examiner to prepare a proposed plan. The plan is submitted to creditors, who vote on it, and, if approved, the plan becomes binding for the involved parties for the duration of the arrangement under court supervision.

Outcomes of velkajärjestely can include adjusted payment terms, partial reduction of debts, and extended time to pay. The aim is to restore the debtor’s ability to meet obligations while ensuring creditors receive as much as possible within the framework of the plan. Velkajärjestely differs from bankruptcy and from business-focused procedures such as corporate reorganizations.

In practice, velkajärjestelylle appears in official documents and forms describing actions related to obtaining, implementing, or evaluating a debt arrangement. It is primarily relevant to individuals, while businesses may pursue separate procedures such as corporate insolvency mechanisms. See also velkajärjestely, velkajärjestelylaki, and konkurssi.