The Court of First Instance and Instruction No. 2 of Santa Cruz de Tenerife (Canary Islands) has granted the Beneficio de Exoneración del Pasivo Insatisfecho (BEPI) in the case of a man who has been discharged from a debt of 66,000 euros. The case was handled by Repara tu Deuda Abogados, a leading law firm in Spain specialising in the Second Chance Law.
As explained by the lawyers at Repara tu Deuda, “The debtor’s situation began with several loans. In his home, the only income coming in was his salary, which was reduced due to the 2008 crisis. Subsequently, realizing he couldn’t repay the loans, he sought other payday loans to cover his previous debts. Eventually, the situation became untenable for him”.
Like in his case, there are many people who turn to the Second Chance Law after having tried everything to solve their debt problems. They have experienced some sort of economic setback due to work-related reasons, health issues, or any other circumstances. It is worth noting that the Second Chance Law came into effect in Spain in 2015. Since then, more than 23,000 individuals and self-employed individuals have requested to avail of this tool to settle debts they have incurred and cannot manage.
Repara tu Deuda Abogados is the leading law firm in the application of the Second Chance Law in Spain. Since its establishment in September 2015, it has managed to surpass the threshold of 200 million euros of debts for individuals from various regions of the country.
With the aim of providing confidence to individuals approaching them to initiate the process or still contemplating, the firm publishes all sentences issued by Spanish courts in cases where they have been involved. “It is noteworthy – explain the firm’s lawyers – that some of those discharged decide to share their success stories firsthand. Having benefitted from this law, they want others to do the same and start the process, knowing that by doing so, they have real chances of embarking on a debt-free life”.
Before commencing the procedure, Repara tu Deuda Abogados jointly verifies with the client if they meet the requirements to initiate the process. Only when it is confirmed that they do indeed qualify, the team begins the necessary procedures. This ensures that those seeking their assistance do not waste time and money.
The firm also reviews contracts signed with banks and financial institutions. The objective here is to ascertain if there are any unfair clauses related to the termination of credit cards, revolving cards, payday loans, loans, and mortgages, and to potentially file complaints against entities such as Cofidis, Moneyman, WiZink, Carrefour, Vivus, Santander Bank, CaixaBank, BBVA, Sabadell Bank, myKredit, Kviku, etc.
