A self-employed woman from Tarragona has managed to cancel €58,329 of debt through the exoneration of unsatisfied liabilities. The pandemic prevented her from opening her beauty and aesthetics business in Reus.
According to a statement released by Europa Press, the firm Repara tu Deuda Abogados has achieved the cancellation of €58,329 of debt for a self-employed woman from Tarragona. The woman benefited from the exoneration of unsatisfied liabilities after the health crisis thwarted the opening of her aesthetics business.
The project had a financing of €25,000 granted after the approval of a business plan. With that money, she made the necessary investments and completed the procedures to set up in a shopping centre in Reus.
The premises were ready to open when, a few days before the inauguration, the state of alarm was declared due to COVID-19. The lawyers explain that the applicant could not start her activity, although she had already assumed the corresponding financial commitments.
During the following months, health restrictions prevented her from providing aesthetic services normally. According to the professionals at the firm, the self-employed woman continued to face fixed costs without income, until her resources were completely exhausted.
Public aid was not enough to resume the business with guarantees, and the woman ended up closing the activity. The debts extended to her housing rent, the repayment of a loan, and contributions to Social Security. She even needed support from relatives living in Budapest to cover basic needs, especially food.
The Second Chance Law arrived in Spain in 2015 to allow insolvent individuals and self-employed workers to regain their financial stability. It allows for the request of exoneration of legally exonerable debts if certain requirements are met, such as current or imminent insolvency, the good faith of the applicant, and the absence of certain criminal convictions within legal deadlines.
For those who want to check if they can avail themselves of this mechanism, the firm offers a free viability study before starting the procedure. Their service includes assistance in gathering documentation, preparing the file, and managing the judicial submission.
Repara tu Deuda Abogados, which has been working with the Second Chance Law since September 2015, claims to have assisted over 100,000 clients. According to their own data, the firm ranks first in the Expansión ranking among the firms that have grown the most in Spain.
The first step, the viability study, is free of charge according to the firm. Afterwards, the application is submitted to the corresponding court.
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