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Tenerife, February 21, 2023.

The exonerated had a business whose results were not as desired and was forced to take advantage of the Second Chance Law

Repair your Debt Abogados, the leading law firm in Spain in the processing of the Second Chance Law, has achieved a new debt cancellation in the Canary Islands. Through the management of Repara tu Deuda Abogados, the Court of First Instance no. the one he couldn’t cope with. SEE JUDGMENT As the lawyers for Repara tu Debt explain, “the exonerated person set up a business. Over time the company did badly. In order to survive, he requested a series of loans. Some were used to repay others. Later he had to reunify the debt Finally, he was forced to take advantage of this second chance mechanism.” As they remember from Repair your Debt, “Spain incorporated the Second Chance Law into its legal system in 2015. It did so after the recommendation made by the European Commission in 2014 to implement a tool for the cancellation of debts of individuals and the self-employed. Recently there has been a reform of this legislation that aims to further streamline the process to make it easier for more and more people to have a new life and be able to reactivate themselves in the economy.”Despite having been approved more than seven years ago , the truth is that many people are still unaware that this legal mechanism exists. Of the knowledgeable, some do not start the process because they cannot pay the high fees that some lawyers request. Others simply don’t start it because they think it’s attractive but false information. There is also a group of people who think that the process is going to be more complicated than it really is. As the cases of people who have availed themselves of the Second Chance Law arise, the truth is that the exonerated are the main prescribers of this mechanism and their influence is vital in its diffusion. It should be noted that Repara tu Deuda Abogados has helped many individuals and freelancers in desperate situations from its beginnings. To date, the firm has achieved the cancellation of more than 120 million euros exonerated to its clients, who come from all the autonomous communities of Spain. This legislation protects individuals and the self-employed as it allows them to be exempt from their debts if they meet certain prerequisites. In general terms, it is essential that the amount of the debt does not exceed 5 million euros, that the bankrupt has not been convicted of socioeconomic crimes in the last ten years and that they always act in good faith, collaborating at all times with the process.

Contact Contact name: David Guerrero Contact description: David Guerrero Contact telephone number: 655956735