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The exonerated launched a hairdressing salon that was forced to close due to COVID-19.

Mallorca (Balearic Islands), August 21, 2023.- Repara tu Deuda, the leading law firm in Spain in the Second Chance Law, has achieved another debt cancellation in Palma de Mallorca (Balearic Islands). This is the case of a man, a resident of Mallorca (Baleares), to whom the Mercantile Court no. amounted to 19,000 euros. SEE JUDGMENT.

The lawyers of Repara tu Deuda explain the story: "his state of insolvency originated when he requested financing to undertake a business adventure and allocate it to pay for equipment, products and premises. The bankrupt started a hairdressing salon. Because of the In the pandemic caused by COVID-19, the debtor was forced to close his business, which reduced his purchasing power and ability to repay Finally, the payment of credit installments was relegated to behind ordinary and recurring expenses of each month".

The Second Chance Law came into force in Spain in 2015 to provide a way out of the over-indebtedness situation of many people who did not know how to get out of the drowning in which they found themselves. Although it is not yet well known in Spain, this legal mechanism is becoming more and more common, in large part, thanks to the work of Repara tu Deuda Abogados to disseminate this possibility among the people who need it most.

Repair your Debt Abogados was created precisely in September 2015. Its experience has made it the law firm specialized in the Second Chance Law in Spain that has handled the most cases and also the one that has canceled the most debt. To date, it has exceeded the figure of 160 million euros of debt exonerated to its clients.

The people who have benefited from the Second Chance Law belong to all the autonomous communities. "We have made large investments to publicize and disseminate the Second Chance Law in all corners of the country. And we do not want anyone who could be a beneficiary of the second chance mechanism to be left without having access to this tool" the lawyers explain.

The Second Chance Law allows both individuals and self-employed individuals who suffer from a state of over-indebtedness to be free of their debts if they previously meet a series of requirements. In general, it is essential that the bankrupt has not been convicted of socioeconomic crimes in the ten years prior to the process, that they act at all times in good faith and that the debt does not exceed 5 million euros. For those who cannot resort to this mechanism, the office also offers the cancellation of credit cards, revolving cards, mini-loans, loans and mortgages in an alternative way by analyzing the contracts signed with banks and financial institutions to check if there is any clause abusive and be able to claim against Cofidis, Moneyman, WiZink, Carrefour, Vivus, Banco Santander, CaixaBank, BBVA, Banco Sabadell, myKredit, Kviku, etc.

ContactContact name: David GuerreroContact telephone number: 655956735