Drowning in Debt? The Second Chance Law Could Be Your Solution
If debts are suffocating you with no way out, the Second Chance Law may legally allow you to renegotiate or even eliminate part of your debts. At Cabrera Abogados, we specialize in this process and have helped hundreds of people start fresh without financial burdens.
Stop suffering from debt. Consult with our Second Chance Law attorneys and breathe easy again.
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What is the Second Chance Law and How Can It Help You?
The Second Chance Law is a legal mechanism designed to help self-employed individuals and private citizens who, due to various circumstances, cannot meet their debt obligations.
.This law allows you to:
✔️ Cancel up to 100% of your debts if you meet certain requirements.
✔️ Restructure and reduce payments through creditor agreements.
✔️ Remove liens and blocks affecting your financial life.
Who qualifies? Insolvent individuals unable to pay debts, debtors who attempted out-of-court settlements with creditors, and those acting in good faith without economic crime convictions.
At Cabrera Abogados, we analyze your case personally and handle all legal proceedings so you can start fresh debt-free.
Contact us now to discover if you can cancel your debts under the Second Chance Law.
Second Chance Law FAQs
Can I eliminate all my debts with the Second Chance Law?
Case-dependent. If qualified, you may cancel 100% of debts. Exceptions exist for Social Security or Tax debts, which may be reduced or restructured but not always eliminated.
How long does the Second Chance process take?
Processing times vary but typically take 6-12 months. At Cabrera Abogados, we manage each phase for quick, effective solutions.
Can I apply for Second Chance with an active mortgage?
Yes, though mortgages are secured debts. Depending on your situation, we may negotiate restructuring, payment reductions, or even deed-in-lieu to cancel debt by property transfer.
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Improving the use and quality of information and communication technologies (ICT) and access to them
Fuensanta Cabrera Salinas has received EU funding under the Andalusia 2014-2020 FEDER Operational Programme (REACT-UE, part of the Union’s response to the COVID-19 pandemic), to offset the rising energy costs (natural gas and/or electricity) for SMEs and self-employed professionals severely impacted by price surges due to Russia’s war of aggression against Ukraine.
