Second chance act and bankruptcy laws

Your debts are not for good.

If you have lost all your heritage/assets and you are in a state of insolvency, you could obtain a debtrelief known as “Benefici d’exoneració del passiu insatisfet (BEPI)”. It is similar to companybankrupcty and consists on cancelling unpaid debts if and when your situation is not due to onpurpose, meaning that your state of insolvency is due to honest mistake.

The Second Chance Act allow people with economic problems to redo and normalize their lives if and when they meet certain legal requirements.

Creditor's meeting