PRESS RELEASE: Repara tu Deuda Abogados cancels €24,243 in Valencia with the Second Chance Law

(Information sent by the signatory company).

PRESS RELEASE: Repara tu Deuda Abogados cancels €24,243 in Valencia with the Second Chance Law

(Information sent by the signatory company)

The person accumulated debts that he had generated in order to help his parents who were out of work

Valencia, January 5, 2023. The Commercial Court No. 3 of Valencia has issued a Benefit of Exemption for Unsatisfied Liabilities (BEPI) applying the Second Chance Law in the case of a person who had taken on debt to help their parents and who owed 24,243 euros. SEE JUDGMENT

He went to Repara tu Deuda, the first office that applies the Second Chance Law in Spain, in a situation of anguish because he could not assume the amount or get out of the spiral in which he found himself. After studying his history, the Repara tu Deuda lawyers saw that he met the conditions to be eligible for this legislation and began the corresponding procedures for the exoneration of 100% of his debts.

The person who has been released had found himself in debt, mainly, for helping his parents who were experiencing a difficult situation because they were out of work. He contracted most of the debts with her ex-partner who, following a breakup and subsequent divorce, disengaged. At first he had no problem paying the dues. Unfortunately, with the arrival of COVID-19, he had a long period of job instability and found himself unable to repay what he owed.

Debt cancellations are taking place every day in different parts of Spain. This fact is causing many people who, at first were unaware of this legislation, have begun the process to have a new opportunity. According to the lawyers for Repara tu Debt, "this mechanism is here to stay. After more than seven years working on its processing, we have verified its effectiveness in people's lives and how what were previously isolated cases is now a reality that many individuals and self-employed people consider themselves".

At this time, the firm has managed to exceed the figure of 110 million euros exonerated to its clients. He points out as keys to success "having the best expert lawyers in this law, using optimal digital technology to reach many people, disseminating the cases, and always taking into account the human factor, so important in a very distressing process for those interested in taking advantage". Although this legislation came into force in Spain in 2015, there are already more than 20,000 individuals and the self-employed who have put their history of over-indebtedness in the hands of the office. The forecast for the coming years is to reach 100,000 cases handled by other countries in which this legislation has been in force for longer.

The Second Chance Law allows individuals and the self-employed to be exonerated from their debts if they previously comply with a series of requirements. Thus, it must be demonstrated that they have acted in good faith, that the amount owed does not exceed 5 million euros and that they have not been convicted of socioeconomic crimes in the last ten years.


Contact name: David Guerrero

Contact description: Contact telephone number: 655956735


Caption: Bertín Osborne, image of Repara tu Deuda Abogados Author: Repara tu Deuda Abogados