The Second Chance Law has allowed a couple from Valsequillo to free themselves from an accumulated debt of 20,128 euros. The husband, MS, a maintenance assistant with an income that slightly exceeds the Minimum Interprofessional Wage (SMI), and his wife, JM, unemployed and receiving no benefits, were forced to resort to loans and credit cards to cover their basic needs due to the insufficiency of their only family income. The lawyers of the specialized firm Canarias Sin Deuda have advised them in the procedure to cancel their debts with the Second Chance Law, now they have the opportunity to start over.
The couple, who have a minor son, previously tried to reach an out-of-court payment agreement with their creditors through a notary. However, unable to reach a satisfactory agreement, they turned to the Second Chance Act for financial relief. This legislation, which began operating in 2015, aims to help individuals and families who are in a situation of economic insolvency, offering them the possibility of renegotiating their debts and partially or totally canceling them.
“It has been like being born again. It is a strange feeling to know that we started from scratch, without calls that overwhelm us. The support we have received from Canarias Sin Deuda has given us the confidence to continue with the entire process and achieve stability that we had been looking for for so long,” says MS
In the case of this Valsequillo couple, the application of the Second Opportunity Law has also protected essential assets for the family, such as their vehicle, since it was considered essential for the husband to be able to travel to his place of work. As well as her pension plan, considered an unattachable asset that guarantees long-term family financial security.
The expert lawyer of Canarias Sin Deuda, Samuel Díaz, head of the firm’s office in Gran Canaria, explains: “After having studied the case of MS and JM carefully and verifying that they met all the requirements to benefit from the Second Chance Law , we carried out the debt cancellation process, counting on their commitment and full collaboration throughout the process, which has been essential to achieve this favorable result”.
About the Canary Islands Without Debt
Canary Islands Without Debt is a law firm and specialists in the Second Chance Law. Its objective is to help all residents of the Canary Islands in a complex economic situation to restructure their debts and thus give them a second chance by offering advice and processing services throughout the process.
Since its creation, Canarias Sin Deuda has achieved the cancellation of more than three million euros of debt in the archipelago, consolidating itself as a leading second chance law firm on the islands. It is a company with 100% Canarian capital, it has offices in Santa Cruz de Tenerife, Las Palmas de Gran Canaria and Arrecife (Lanzarote). Being able to provide, in addition, telematic coverage to any of the other islands, thanks to the fact that the procedure allows procedures in this way.
Contact Canary Islands Without Debt:
Gran Canaria:
Calle Perojo, 19, 35003 Las Palmas de Gran Canaria, Las Palmas – 928 987 990
Tenerife:
Calle Villalba Hervás nº 11 – 38002 – Santa Cruz de Tenerife.
922 125 815
Lanzarote:
Av. Fred Olsen, 6 Building, Floor 1, local 4, 35500 El Islote – 928 987 990
