How to access the law that forgave a couple in Bilbao their debt

A Bilbao couple It has been benefited from the so-called Second Chance Law sAccording to which justice has released him from the payment of a debt of 35,266 euros. The judge has considered that the marriage meets the necessary requirements to do so by giving them the opportunity to start over without this financial burden under a regulation that was approved in 2015 with precisely that objective.

In order to apply to benefit from the Second Chance Law, a series of requirements must be met.  (Photo: Getty Images)

In order to apply to benefit from the Second Chance Law, a series of requirements must be met. (Photo: .)

In the case of this couple living in the capital of Bilbao, their economic situation became complicated after one of the components was fired due to a reduction in staff and the other had their working hours reduced. They could not take care of the payments they had to face and started the process, as Deia indicates. After studying their case, the Court of First Instance number 10 of Bilbao granted them the Benefit of Exoneration of Unsatisfied Liabilities (BEPI), associated with the Second Chance Law.

The question that arises as a result of that case is what is the Law to which this couple has accepted and who can do it. Approved in 2015 and published in the BOE, where it can be consulted in its entirety, it is aimed at natural persons who cannot take over the debt that they carry. But not everyone can benefit from it, but you have to meet a number of requirements.

According to several websites of law firms specialized in this type of chaos, these would be the following:

Adjusting to what is called debtor in good faith.

Debt cannot exceed five million of euros.

It is not counted on enough equity to pay that debt.

Not to be the subject of a guilty contest. In other words, this has not occurred due to intentional insolvency.

Not having declined an offer of work according to their abilities in the previous four years.

To have trying first to reach an out-of-court settlement with the parties with whom the debt is contracted.

What do not weigh a conviction about the applicant by the following crimes: economic, against the rights of the workers, documentary falsification, against the patrimony, against the Public Treasury or against the Social Security.

Not having requested the acceptance of this law in the last decade.

You must accept that your name appears, for a period of five years, in the Public Bankruptcy Registry.

One of the most important and perhaps most confusing points for the citizen is the good faith of the debtor. In COAGA Abogados y Asesores they explain through their website that in order to assess this the judge what he takes into account is that before reaching that point the applicant has complied with others such as trying to reach an out-of-court agreement, not having rejected jobs …

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Basically, and as is clear from the expression of ‘good faith’, it is that the situation has not been sought, intentional and that all previous options have been exhausted before reaching the point of not being able to take care of the debt.

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