Vilches Abogados has achieved an important judicial victory by freeing a client from a debt of 45,000 euros through the successful application of the Second Chance Law. This client, who was in a desperate financial situation due to numerous debts from personal loans and fast credits, had reached the brink of financial collapse, facing multiple seizures.
By seeking the help of the law firm Vilches, the defendant found a guide in his economic maze. The firm made the decision to initiate a bankruptcy process, requesting the appointment of a bankruptcy administrator to carefully monitor the client’s expenses. This tactic was crucial to ensure that the application of the Second Chance Law was carried out effectively.
With the declaration of bankruptcy, Vilches Abogados established a liquidation plan and applied for the Exoneration of Passive Benefit. The highlight of the case was the negotiation of a two-year payment plan, which included the discharge of 75% of the total debt, the maximum allowed by current regulations for this type of situation. Crucial to the success of the plan was obtaining the consent of one of the main creditors, which facilitated the court’s approval.
During the two years, the defendant diligently complied with the agreed monthly payments. At the end of this period, Vilches Abogados submitted documentation to the court demonstrating the full compliance with the agreed plan. Finally, the court granted the definitive discharge of debts, thus giving the client a second chance to rebuild his finances without the burden of his old creditors.
The strategic direction of the firm, led by the lawyer in charge of the case, was crucial in achieving this success. The timely request for bankruptcy and the proper management of funds were essential for the fulfillment of the payment plan. This case highlights the relevance of the Second Chance Law as a crucial tool to provide a new perspective to individuals and self-employed individuals facing extreme financial difficulties.
via: MiMub in Spanish
