Second Opportunity Act

If you can’t face your debts and you want to start afresh, here you have your second opportunity.

What is the Second Opportunity Act?

La Ley de Segunda Oportunidad es una opción que te permite alcanzar la exoneración de todas tus deudas, incluidas hipotecas o créditos personales. Un balón de oxígeno que os permite empezar de nuevo a quienes debéis hacer frente, con vuestro patrimonio presente y futuro, a las deudas de un proyecto empresarial que se ha visto truncado, o a las de vuestra vida cotidiana.

The Second Opportunity Act is an option that allows for relief from all debt, including mortgages and personal credits. This act provides those of you who are struggling to pay off debts from your current or future wealth, debts which arose from a business project which was cut short, or other debts from your day to day life, this act provides a lifeline, a fresh start.

Who can benefit from the Second Opportunity Act?

Debtors in good faith; that is to say anyone who would like to be able to be able to pay off their debts but that is unable to. Self-employed professionals, business men/women or directors (self-employed, entrepreneurs, directors, members of the board of directors…) who invested all of their assets into a professional or business project and who have been thrown into an arrangement with creditors, liquidation and/or closure, or who simply have not been able to benefit from the liquid funds which they had anticipated, and who now have to pay off said debts using their own assets. This act also applies to those individuals who have unexpectedly found themselves unable to over the debts or payment obligations which they have acquired.

Can I really start again, debt free?

Yes, when you have tried to pay off the sum owed to the creditors, and you don’t have any more assets or resources with which to face your debts, the exemption benefit set forth in the Second Opportunities Act could become definitive.

Why is it important for me to place my trust in the professionals?

Making a claim in accordance with the Second Opportunity Act is a complicated process and it is important that you are very familiar with it, and you know exactly how to obtain exemption from paying off your debts, given that doing it incorrectly would thereby mean that your debts would never be able to be offset, and that your successors would therefore inherit your debts. It is therefore important that you are in safe hands from the beginning, in order to ensure that you don’t miss out on this second opportunity.

If you are in this situation, don’t wait any longer. Contact us and we will guide you through this process and to a new start, your second opportunity.