Debtor Receives Debt Cancellation in Madrid: A Success Story by Repara tu Deuda Abogados

(Information sent by the signatory company)

The debtor lost one of the two jobs he had after applying for financing for a home and a vehicle.

Repair your Debt Abogados, the leading law firm in Spain in the processing of the Second Chance Law, has achieved a debt cancellation in Madrid. Through the management of Repara tu Deuda Abogados, the Mercantile Court No. 5 of Madrid has issued the benefit of exoneration of the unsatisfied liability in the case of a man with a debt of 32,000 euros that he could not meet. SEE JUDGMENT.

As the lawyers from Repara tu Debt explain, his case is as follows: “his state of insolvency originated when he requested financing for the sale of a vehicle and a home. At first he had no problem in dealing with the repayment of the loans However, the debtor lost one of the two jobs he had, which affected his income. He could not pay the mortgage loan any more, so he made a dation of payment by handing over the house. The rest of the debt he could not pay and requested more loans to cover it and subsist. In the end, everything that came in was entirely destined to the payment of credits and to the ordinary and recurring expenses of each month”.

According to Repara tu Deuda, “Spain incorporated the Second Chance Law into its legal system in 2015. Created more than 100 years ago in the United States, well-known figures such as Walt Disney or Steve Jobs, if Well, most of them are ordinary people who have fallen into a situation of over-indebtedness without having sought it.Its spirit is to offer a second chance to those who live drowned by their debts and cannot assume them without stopping paying the basic services of water, electricity, gas, etc.”

Repara tu Deuda Abogados began its activity in September 2015, which makes it a pioneer in this market. Since then, he has been able to help many people who did not know how to get out of the over-indebted situation in which they found themselves. So far, the figure canceled by the firm has exceeded the amount of 160 million euros exonerated.

The law firm has more than 20,000 clients, from the different autonomous communities of Spain. The forecast is that this figure will continue to increase progressively as this law is becoming more widely known and also because many of those exonerated decide to encourage those who are thinking about it to start the process.

This legislation allows both individuals and the self-employed to be released from their debts if they meet a series of basic conditions. In general, it is sufficient that the bankrupt has not been convicted of socioeconomic crimes in the last ten years, that they always act in good faith without hiding assets or income, and that the amount owed does not exceed 5 million euros. Those who cannot take advantage of this mechanism, the office also offers them the possibility of canceling credit cards, revolving cards, mini-credits, loans and mortgages and claiming Cofidis, Moneyman, WiZink, Carrefour, Vivus, Banco Santander, CaixaBank, BBVA, Banco Sabadell, myKredit, Kviku, etc.

Contact.
Contact name: David Guerrero.
Contact description:.
Contact phone: 655956735.