Debt Attorney Givatayim & Tel Aviv – Insolvency & Bankruptcy Solutions

Debt Attorney & Insolvency Lawyer in Givatayim – Comprehensive Legal Solutions

When you face mounting debts, creditor pressure, or complex financial obligations, securing expert legal representation is essential. At משרד עורכי דין תאסירי ושות׳, led by עו"ד אסף תאסירי, we specialize in debt settlement, insolvency law, and bankruptcy proceedings under Israeli law. With over 15 years of experience serving English-speaking expats, foreign investors, and international businesses throughout the Tel Aviv metropolitan area—including Givatayim, Ramat Gan, and surrounding regions—we provide tailored legal strategy and professional advocacy.

Our firm combines deep knowledge of the Insolvency and Economic Rehabilitation Law (5778–2018) with cutting-edge AI-powered legal analysis through our proprietary TTD system. Whether you are an individual facing personal debt, a business owner navigating corporate insolvency, or a creditor pursuing enforcement proceedings, we deliver results-driven counsel and representation in Israeli courts.

Why Choose Our Debt & Insolvency Law Firm?

• Veteran Experience: 15+ years of successful cases in insolvency, bankruptcy, and debt restructuring across Israel.
• English-Speaking Team: Direct access to native English-speaking attorneys and support staff—essential for expats and international clients.
• AI-Powered Strategy: Our TTD system analyzes case law, statutory provisions, and precedent to build robust legal strategies.
• Full-Spectrum Services: From debt negotiation and settlement to formal insolvency proceedings, enforcement actions, and civil litigation.
• Accessible Location: Located in Moshe Aviv Tower, Ramat Gan (Givatayim's immediate neighbor), with easy access from Tel Aviv and surrounding areas.
• Accessibility Commitment: We ensure equal access to legal services for all clients, including people with disabilities.

Understanding Debt & Insolvency in Israel: Key Concepts

Debt Settlement vs. Formal Insolvency Proceedings: In Israel, debtors have options. Informal debt settlement (הסדר חובות) involves negotiating with creditors to reduce or restructure obligations without court intervention. Formal insolvency proceedings, governed by the Insolvency and Economic Rehabilitation Law, include rehabilitation plans (תוכנית שיקום) and bankruptcy (פשיטת רגל). Our attorneys assess your situation and recommend the most cost-effective and strategically sound path forward.

Creditor Rights & Enforcement Proceedings: If you owe money or hold a court judgment, enforcement proceedings (הליכי גבייה) under the Execution Law allow creditors to recover debts through asset seizure, wage garnishment, and bank account levies. Understanding your rights as a debtor—and your obligations as a creditor—is critical. We represent both sides in enforcement actions.

Corporate vs. Personal Insolvency: Businesses and individuals face different insolvency rules. Corporate restructuring may involve company rehabilitation (תוכנית שיקום חברה), while personal bankruptcy offers discharge of debts under specific conditions. Our firm handles both contexts with equal expertise.

Insolvency & Bankruptcy Process in Israel: Step-by-Step Guide

Understanding the legal pathway for debt resolution is essential. Below is a detailed breakdown of how insolvency and bankruptcy proceedings work under Israeli law in 2026.

1. Initial Assessment & Strategy Consultation

Your first step is a comprehensive assessment of your financial situation. Our attorneys review your debts, assets, income, and creditor claims to determine whether debt settlement, rehabilitation, or bankruptcy is most appropriate. We explain the consequences, timelines, and costs of each option. This consultation is free and confidential, allowing you to make an informed decision.

2. Debt Settlement Negotiations (Informal Route)

If formal proceedings are not necessary, we negotiate directly with your creditors. Our experience in debt settlement allows us to achieve reductions of 20–60% of total debt in many cases. We draft settlement agreements, manage creditor communications, and ensure compliance with agreed terms. This route is faster and less expensive than court proceedings.

3. Filing for Formal Insolvency (Rehabilitation Plan)

If debt settlement fails or your situation requires formal restructuring, we file a rehabilitation plan (תוכנית שיקום) with the District Court. This triggers an automatic stay on creditor enforcement actions while you propose a repayment or restructuring plan. The court appoints a trustee to oversee the process. We prepare all documentation, represent you in court hearings, and negotiate with creditor committees.

4. Creditor Voting & Plan Approval

Creditors vote on your proposed rehabilitation plan. Our attorneys advocate for plan approval, addressing creditor objections and demonstrating the plan's feasibility. If approved, the plan becomes binding on all creditors, and you proceed with repayment or restructuring according to its terms.

5. Bankruptcy & Debt Discharge (Final Route)

If rehabilitation fails or you have no meaningful income/assets, bankruptcy (פשיטת רגל) may be appropriate. Bankruptcy discharges most debts but has significant consequences: asset liquidation, credit damage, and restrictions on future borrowing. We ensure the process is conducted fairly and that your rights are protected.

6. Enforcement Proceedings Against Debtors

If you are a creditor pursuing recovery, we manage enforcement actions. This includes filing execution writs, pursuing asset seizure, wage garnishment, and bank levies. We navigate the technical requirements of the Execution Law to maximize your recovery.

Cost of Debt & Insolvency Legal Services in Israel

Legal costs are a major concern for clients facing financial hardship. Transparency is essential. Below is a realistic breakdown of costs for debt and insolvency services in 2026.

Debt Settlement & Negotiation Costs

Informal debt settlement typically costs between 2,000–8,000 ILS, depending on the number of creditors, complexity of negotiations, and time invested. Some firms work on contingency (percentage of savings achieved), though this is less common in Israel. We offer flexible fee arrangements, including hourly rates and fixed fees for specific services. Our initial consultation is free.

Insolvency & Rehabilitation Plan Costs

Filing and managing a formal rehabilitation plan costs 5,000–15,000 ILS in attorney fees, plus court filing fees (typically 500–1,500 ILS). The court also appoints a trustee, whose fees are paid from your estate or as part of the plan. Total costs depend on case complexity, number of creditors, and court proceedings required. We provide cost estimates upfront.

Bankruptcy Proceedings Costs

Bankruptcy filing costs 3,000–10,000 ILS in legal fees, plus court and trustee costs. While bankruptcy is sometimes less expensive than lengthy rehabilitation, the long-term credit and financial consequences are severe. We carefully evaluate whether bankruptcy is truly necessary.

Enforcement & Execution Costs

Enforcement proceedings (as a creditor) typically cost 2,000–6,000 ILS in legal fees, plus execution officer fees and court costs. Recovery depends on the debtor's assets and income. We work on a contingency or hourly basis, depending on the case.

Our Fee Structure

Hourly Rates: 400–800 ILS per hour for senior attorneys, depending on complexity and seniority. Fixed Fees: Available for routine services such as settlement agreements, enforcement filings, or simple bankruptcy cases. Contingency: For enforcement cases, we may negotiate a percentage of recovery (typically 15–25%). Payment Plans: We offer flexible payment arrangements for clients facing financial hardship. Initial Consultation: Free, 30–45 minutes, no obligation.

Debtor Rights & Creditor Protections Under Israeli Law

Both debtors and creditors have specific rights and obligations under Israeli law. Understanding these is critical for navigating debt and insolvency matters effectively.

Debtor Rights in Israel

• Right to Debt Settlement: Debtors have the right to negotiate informal settlement with creditors without court involvement. Creditors are not obligated to settle, but many do to avoid lengthy bankruptcy proceedings.
• Right to Rehabilitation Plan: Under the Insolvency and Economic Rehabilitation Law (2018), debtors have the right to file a rehabilitation plan and request a stay on creditor enforcement while the plan is considered.
• Right to Bankruptcy & Discharge: Debtors with minimal assets and income may file for bankruptcy, discharging most debts. However, certain debts (taxes, alimony, criminal fines) are non-dischargeable.
• Right to Creditor Information: Debtors have the right to know who their creditors are, the amounts owed, and the terms of debt.
• Protection Against Harassment: Creditors cannot harass, threaten, or use abusive collection tactics. Violations may result in damages claims.
• Wage Garnishment Limits: In enforcement proceedings, creditors cannot garnish more than 30% of net wages. Certain income is protected (minimum living expenses, child support arrears).
• Right to Accessibility: Debtors with disabilities have the right to accessible legal services and court proceedings, including interpreters and accommodations.

Creditor Rights in Israel

• Right to Enforce Judgments: Creditors holding court judgments have the right to pursue enforcement proceedings, including asset seizure, wage garnishment, and bank levies.
• Right to Participate in Insolvency: Creditors have the right to vote on rehabilitation plans, object to discharge, and participate in asset distribution in bankruptcy.
• Right to Interest & Penalties: Creditors may pursue interest, late fees, and collection costs if specified in the debt agreement or allowed by law.
• Right to Creditor Priority: In insolvency, creditors are paid according to statutory priority: secured creditors first, then tax authorities, then general unsecured creditors.
• Right to Debt Assignment: Creditors may sell or assign debts to collection agencies or other creditors, though debtors must be notified.

Enforcement Proceedings & Asset Protection

Enforcement proceedings are the primary mechanism for creditor recovery in Israel. Once a creditor obtains a court judgment, they file an execution writ with the court. The execution officer then pursues the debtor's assets and income. However, certain assets are protected by law: primary residence (up to a statutory value), essential household items, and minimum income for basic living expenses. We represent both creditors and debtors in enforcement actions, ensuring fair treatment and legal compliance.