Seville, May 30, 2023.

The Second Chance Law has become a great tool for many families to leave behind their debts. A married couple from Seville has been exonerated from an amount of more than 400,000 euros. Details are listed below

Recently, the Commercial Court of Seville issued a waiver of the unsatisfied liability for an amount of more than 450,000 euros thanks to the Second Chance Law. The beneficiaries were a couple of hoteliers from the city. Their debt was not limited to private creditors. The Treasury and Social Security also claimed a significant amount from these two Sevillians. Since 2012 both had seen how their payrolls were seized and they had difficulties supporting their two children. It all happened as a result of the bankruptcy of his business. Now, without that ballast, they will be able to live normally again and leave behind that sad episode from their past. Second Chance Law The case of these Sevillians has been resolved in less than a year. In addition, it has been carried out with the legislation prior to the last modification of the law. From now on, with the elimination of the bankruptcy mediator and without the obligation to go to a notary, everything is much more agile. The pros and cons of the Second Chance Law are many, but the important thing is that the liability can be reduced with which it is charging. Both the debts that have been contracted with public organizations and with private creditors are likely to be admitted in court. “Do you appear on any list of private defaulters? If you do not know it, we will explain what it means to be in ASNEF. With this law you can declare yourself in suspension of payments and no creditor that appears later will be able to include you in a list of private defaulters or claim money from you until the procedure is finished.” Who can take advantage of this law? The Second Chance Law and its requirements are not always clear. “We are going to explain them to you in detail so that you know them. The most important thing is that you know that, whether you are an individual or self-employed, you can take advantage of this procedure. It is only necessary that you do not have a record of socioeconomic crimes, against property or against workers. Nor can you have refused any job in the previous four years or have a debt of more than 5 million euros. How many creditors do you have? This is something very relevant, since to be eligible you have to have at least two. Finally, it is crucial to file for insolvency and, of course, to be in good faith at all times. That is, real assets and income must be disclosed. Otherwise, the right that the court recognized could be lost. The Second Chance Law requires a legal process to offer the lifeline needed to get rid of the burden of debt. But with a specialized team like Empieza de Cero, everything will be easier.

Contact Contact name: EMPIEZA DE CERO Contact description: EMPIEZA DE CERO Contact telephone number: 657702894