Experts from Canarias Sin Debta have successfully erased the debt of 32,000 euros owed by a resident of San Cristóbal de La Laguna, who fell into insolvency due to challenging family and financial circumstances.
Víctor Manuel Hernández managed the family business, an automobile repair shop that once belonged to his father, alongside another job. However, during the pandemic, the workshop halted its operations, leading to a severe deterioration in Víctor Hernández’s financial situation. With a salary that was already insufficient for his daily needs, he faced additional debts incurred by his father.
Despite his determination to continue settling his obligations, he lost his additional source of income and experienced a significant drop in earnings. When his circumstances became untenable, he enlisted the assistance of Canarias Sin Debta to help address his parents’ debts to the public administration, as well as their living expenses during a time when they had no income.
“I owe you this new beginning”
“All my debts have been cancelled, and I owe this new beginning, this pivotal moment in my life, to Canarias Sin Debta,” declared Víctor upon discovering that the Canarias team had succeeded in clearing over 32,000 euros of debt. He encourages anyone facing a precarious financial situation to seek professional guidance.
Canarias Sin Debta is a company that specialises in the Second Chance Law. Its mission is to assist individuals and the self-employed in overcoming difficult financial circumstances by restructuring their debts, thereby providing them with a second opportunity, along with comprehensive advice and services throughout the process.
Since its inception, Canarias Sin Debta has achieved the cancellation of over 44 million euros nationwide. Furthermore, it has been a leading organisation in second chance law for several years and continues to grow its clientele across Spain. It has locations in Santa Cruz de Tenerife, Las Palmas de Gran Canaria, and Lanzarote, offering online services to the remainder of Spain, as the process can be conducted electronically through the client area on the website and the Canarias Sin Debta app.
The Second Chance Law has been safeguarding debtors, whether individuals or self-employed, since 2015. Its primary aim is to ensure that those experiencing insolvency are not excluded from the system. In other words, it enables individuals to start afresh without being burdened by their debts forever. This procedure is comparable to the well-known Bankruptcy of Creditors commonly utilised by companies.
