Palma de Mallorca, July 10, 2023.

The state of insolvency of the debtor was generated by the lack of liquidity for the regular payment of its obligations

The Court of First Instance no. Chance. SEE JUDGMENT The exonerated went to Repara tu Deuda, a pioneering firm in the application of the Second Chance Law in Spain, drowned by having fallen into a situation of over-indebtedness that is difficult to get out on his own. After studying the case, the lawyers from Repara tu Deuda began the procedures for him to take advantage of the Second Chance Law and now he is released from 100% of his debts. As the lawyers from Repara tu Debt explain, "the state of insolvency of the debtor had been generated by the lack of liquidity for the regular payment of its obligations. The main reason for this has been the request for financing and not being able to face the In this sense, given the current insolvency, it requested bankruptcy mediation with its creditors, which resulted in no agreement." Debt cancellations are taking place every day in some autonomous community of Spain. This allows many people who were in a situation of economic blockade to begin the process and resort to the Second Chance Law. As explained by the lawyers from Repara tu Debt, "this legislation is becoming more and more known by many individuals and self-employed individuals who were unaware that there was a legal mechanism provided for in 2015 so that they could cancel their debts".Repara tu Debt, a specialist in processing of the Second Chance Law, points out as keys to success "having the best expert lawyers in this legislation, using the best digital technology and never forgetting the human factor, so necessary for people living in a situation of prolonged anguish". To date, the legal office has managed to exceed the figure of 150 million euros exonerated to its clients, who come from the different autonomous communities of Spain. At this time, more than 20,000 individuals and the self-employed have put their case in their hands to reactivate themselves in the economy and be able to start again from scratch. The Second Chance Law protects individuals and the self-employed by allowing them to be exonerated from their debts as long as they comply a number of prerequisites. In general terms, it is essential that the bankrupt does not exceed 5 million euros in debt, that he has not committed socioeconomic crimes in the last ten years and that he acts in good faith, without hiding assets or income. For those who cannot take advantage of this mechanism, the office also offers the cancellation of credit cards, revolving cards, mini-credits, loans and mortgages.

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