This May, Capllonch Advocats successfully obtained four Orders of Exoneration of Unsatisfied Liabilities (EPI), granted through the procedure established by the Second Chance Law, with a total value of €185,000.
Two of these orders correspond to debts of approximately €70,000 each, while the remaining two involve amounts of €27,000 and €19,700, respectively.
The first two cases involve self-employed workers who incurred debts through their professional activity. Due to low productivity and the inability to sustain their businesses, they were forced to close down and were unable to meet their financial obligations. The EPI has allowed them to cancel most of their debts, leaving only a small amount owed to Social Security, which they will be able to repay through a five-year payment plan.
The other two cases involve private individuals who accumulated debt from purchasing a vehicle and acquiring everyday household goods. One of them experienced a significant income reduction due to a long-term medical leave, while the other faced progressive financial hardship due to rising housing costs and the increasing price of basic necessities. Both were in a situation of insolvency that prevented them from covering their daily expenses. Thanks to the Second Chance Law, they have been able to free themselves from these debts and regain control of their finances.
These cases demonstrate that the Second Chance Law is a useful and effective tool that helps individuals overcome difficult financial situations and start over.
For more information, please contact us:
• Joan Pere Capllonch
• Telephone: 682774285
• Email: info@capllonchadvocats.com
