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In my country you're responsible with your full wealth for your debt (and there's no personal bankruptcy law - it applies only to businesses). They'll retain 1/3 of your salary until they fully recover the difference, if there's any left after the foreclosure.


Ok, that's far more harsh than I was expecting. Thanks, for the clarification the added background completely alters things.


Is it all right with you if you share what country this is?

What happens if you become unemployed during this time?


The country is Romania. A draft existed at one point last year ( http://iasiinvest.ro/information-in-english-/31036-personal-... ) but has been cancelled since then.

If you become unemployed and no longer have any assets, I suspect the debt still exists awaiting you to become employed again, but I'm not a lawyer.




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