Also…
Debts
Objective: cancel our clients’ debts
The Second Chance Act allows for the cancellation of a wide variety of debts, offering significant financial respite to those who find themselves insolvent. At Reestruktura, we help our clients understand what debts can be canceled under this legislation and how they can benefit from it. Debts that can be canceled include:
Debts with financial entities:
Personal loans, credit cards and other types of bank financing can be waived, allowing the debtor to be freed from financial obligations that they cannot meet.
Debts with suppliers:
Commercial debts and debts with suppliers can also be subject to exemption, which is particularly relevant for small business owners and the self-employed.
Debts with the Public Administration:
Although with certain limitations, it is possible to cancel debts with the Treasury and Social Security, as long as certain additional requirements are met.
Debts for guarantees:
In some cases, debts derived from having acted as guarantor can be canceled under this law.
Our team at Reestruktura analyzes each case in detail to determine which debts can be exonerated and how to proceed to obtain the maximum possible benefit. We work closely with our clients to ensure a clear understanding of the process and their rights under the Second Chance Act.
Reestruktura
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