Repara tu Deuda Abogados, a leading law firm in Spain specializing in the Second Chance Law, has successfully facilitated the cancellation of €113,180 in debt for a resident of Huelva, Andalucía. This achievement was announced on October 28.
The individual previously operated a churros shop, which failed to generate the expected profits, ultimately forcing its closure. The circumstances led him to seek loans to cover previous debts, but without improvement in his financial situation, he fell into a cycle of over-indebtedness.
The lawyers from Repara tu Deuda explained that many individuals facing similar financial hardships turn to the Second Chance Law as a viable option to resolve their debts. Factors like job loss, health issues, or other personal challenges can quickly lead to overwhelming financial burdens. Once these individuals realize the extent of their debt, they often seek reliable solutions to alleviate their financial stress.
Individuals who utilize the Second Chance Law experience significant benefits, such as being removed from adverse credit registries that damage their financial reputation. They also cease receiving distressing calls from banks and financial institutions, gain the ability to apply for new financing if desired, and can register potential future assets in their name.
Founded in September 2015, Repara tu Deuda Abogados has helped clients across various autonomous communities in Spain achieve financial relief, amounting to €360 million in debts discharged. This figure is expected to grow as the firm continues to handle numerous cases, with many debtors sharing their positive experiences with others in similar predicaments.
To qualify for the benefits of this legal mechanism, individuals must meet certain criteria. Generally, applicants should not have been convicted of socio-economic crimes in the past ten years, must currently be insolvent or nearing insolvency, and must demonstrate good faith by disclosing all assets and income while providing the necessary documentation.
For further inquiries, interested parties can contact Repara tu Deuda Abogados at the following:
Contact Number: 900831652
Email: [email protected]
