At Montelirio Abogados y Asesores Tributarios, our work continues to show how Spain’s Second Chance Law can operate when supported by an appropriate strategy and rigorous legal analysis.
The firm recently obtained relief for a client from more than €31,000 in debt through a discharge of outstanding liabilities.
Our client faced an unsustainable level of indebtedness and lacked sufficient assets to meet the obligations. After reviewing the circumstances, we commenced insolvency proceedings and applied for a discharge.
Commercial Court No. 4 of Seville issued an order granting discharge of all debts eligible for relief, bringing the client’s insolvency situation to an end and allowing a fresh start.
Creditors can no longer pursue the client for the discharged debts, offering the opportunity to regain personal and financial stability.
Every case is different. Careful legal planning matters, and Montelirio Abogados y Asesores Tributarios has a Corporate and Commercial Law department able to assess individual circumstances and determine whether the Second Chance mechanism may be available.
If overindebtedness is preventing you from moving forward, contact us to discuss your case and assess the viability of this type of proceeding.