Are you going through a bad economic streak? Do you need relief against debts and payments that corner you? Then you must request the Second Chance Law Form.
Here we will explain how to do it. Keep reading us, we are sure that this tool will give you responsible solutions so that you continue to be a good payer and do not harm anyone. Don’t waste any more time!
Usefulness of the Form for the Second Chance Law
If you are in trouble due to debts and insolvencies, with the Form for the Second Chance Law you can request before a Notary, a out-of-court settlement of payments.
Once you comply with all the information required by this form, the Notary Public will be able to communicate to the Court that you are executing an Extrajudicial Payment Agreement. Then he will name you a bankruptcy mediator.
With this format you will be able to gather all the data you need to formalize the procedure. Check each requirement that we are going to specify little by little in the list that you are going to read below:
- You must have your identification as a debtor. Present in detail your personal, family and work / professional situation. Write clearly the way by which they can contact you without problem. Always worry about looking good.
- Indicate if you are married and what is your matrimonial property regime. Name your spouse, indicating if he or she is a joint owner.
- If you are not married, but have a partner, indicate it without any doubt. Specify if you have financial agreements.
- Indicate if you have children or other relatives who depend on you.
- Make a statement about your compliance with the requirements of article 231 of Law 22/2003, Bankruptcy.
- Detail your type of insolvency (current or impending) and its reasons.
- Make an estimate of the overall amount of debts and the value of assets and rights integrated into your assets.
- Make an inventory of your assets and rights:
- Your regular income (income, wages, pensions).
- The assets and rights that you have to carry out your activity.
- The bank accounts you have and their current amount.
- Your movable capital (shares, participations, obligations, loans, deposits, insurance, leases).
- The real estate you have (certificate of ownership, charges, encumbrances).
- Specify a list of creditors, detailing identification, form of contact, amount of debt, due dates and repayments for each creditor. Specify the credits subject to real guarantees, the contracts in force, the expected monthly expenses, and the workers in your charge.
When you collect all this information, you will be able to speed up the procedure and provide legal certainty. Remember that you are the debtor and you need to look good before the law and the negotiations.
Your obligation is to accurately reflect the insolvency situation.
When you present the application form for the Second Chance Law, you will be starting the second chance process. You have started with the out-of-court settlement phase.
How to present it?
Once you fill in the application form, you must deliver it to the Notary of your home.
If you are an entrepreneur or a representative of an entity registered in the Mercantile Registry, you can choose a recipient:
- The commercial registrar of your address.
- The Official Chamber of Commerce, Industry, Services and Navigation, where appropriate.
- The Official Chamber of Commerce, Industry, Services and Navigation of Spain.
Consider that you can use electronic means to submit your request. It is important that you know that this procedure will have no cost.
Investigate the agencies to which you can contact, as they correspond to you by location or address:
- The commercial records of your address.
- The official chambers of the services.
- The official chambers of commerce, industries and navigation of Spain.
Verify in each body its means (physical, electronic), its models and deadlines for the procedure. In this way we are sure that you will not fail in your request.
Where is the Form for the Second Chance Law Submitted?
Once you present the application form for the Second Chance Law you will be initiating the out-of-court payment agreement.
You must submit the form to a notary or registrar, who will appoint a bankruptcy mediator to process this phase and the consecutive bankruptcy.
We advise you that for the entire process count on reliable professional assistance. If you are looking for a specialist lawyer, you do not know which ones you will get rid of. Reaching agreements about your payments will be easier and safer.
Only an expert in law will be able to tell you the full benefit of the exemption of the unsatisfied liability (BEPI).
Requirements to Benefit from the Second Chance Law
Do not forget our recommendation, look for a specialist lawyer to help you from the beginning of filling out the form until you finish it and present. Even count on him until you reach an agreement; and even more so, if you don’t get it.
Be exhaustive with the information requested by the Second Chance Law Form, as it is a document that will contain a credit history with bad debtors.
Review the rules established for debtors and meet these requirements:
- You cannot be convicted of some type of social and / or economic crime.
- Act in good faith in out-of-court solutions and avoid frustrating payment possibilities.
- Hopefully, you don’t have rejections of offers from previous years.
- You must not have received waiver benefits. We recommend that you check the last 10 years.
- You must have a good record of compliance with established credits.
- Try to have paid 26% of the ordinary credits.
- Show the effort you made to pay off credits.
Effects of the Request
Once already you processed the Second Chance Law Form, you must initiate the corresponding phases of monitoring, orientation and obtaining each one of the extrajudicial agreements of the payments you reached.
You must be aware of the notaries or registrars who will appoint the insolvency mediators, who will do this phase. Later you should be aware of consecutive contests.
Keep in mind that each phase, each process, each requirement takes its own time. Be aware that a detailed examination and the intervention of professionals in the matter is needed.
Don’t forget, the Second Chance Law Form is an important document. It depends on him that they grant you the achievement of agreements in a simple and favorable way.
Remember also that each legal professional will have the full will to be able to request the Benefits in relation to the exemptions of liabilities.
What is the Second Chance Law Form?
Well we tell you that the Second Chance Law Form it is a method or, rather, it is a document with mechanisms that you can use to save yourself from any situation. If you can’t cope with your debts, this is the way to go.
It is a help tool if you find yourself going through an unfavorable economic situation.
That is why we tell you that this form is your salvation: if you follow each step, you meet all the requirements, you go to the competent bodies, you meet the deadlines with severity. Without a doubt, you will be able to free yourself from the payments that are suffocating you today.
Throughout this article we have taken you by the hand. We gave you the best advice. We warn you about the care and caution of each information that you must give to achieve out-of-court settlements. All in the key that you succeed.
Take advantage of today, that Spain is one of the countries that has bankruptcy laws and the law of the second chance so that you can save yourself from payments owed.
Look, they are laws that are inspired by ethical principles that seek to save as much as possible. possible, the way in which creditors are collected from their debtors.
It is a law and a tool that help you as a person to fulfill your social and economic functions, which are those that effectively any person has to execute pending collections.
It is not a mechanism that seeks to harm anyone. Be fruitful as a person. Get to investigate everything, order yourself and achieve your out-of-court settlements with the form and overcome in the best way your economic crisis as a debtor and responsible payer.
Make no mistake, the law of the second chance is based on principles and information that you must attend to responsibly.
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