Second Chance Law in SpainFree yourself from your debts
"The Second Chance Law is a legal tool that allows individuals and self-employed workers to cancel their debts when they can no longer afford them. We help our clients throughout Spain start over without debts, with a team expert in bankruptcy law and close support throughout the process from Girona.
"
What is the Second Chance Law?and why can it help you
Objective and spirit of the Law
The Second Chance Law has a clear purpose: to offer a legal way out for those who cannot pay their debts but have always acted in good faith.
Its essence is simple: to allow any individual, self-employed worker or small business owner to start from scratch without the weight of past debts.
Who is this law aimed at in 2025
This law applies to both individuals and self-employed workers. In both cases, the objective is to allow judicial exoneration of debts, provided that legal requirements are met and the debtor acts in good faith.
Start a new life with the Second Chance Law.
The Second Chance Law is a legal tool that allows individuals and self-employed workers to cancel their debts when they can no longer afford them. We help our clients throughout Spain start over without debts, with a team expert in bankruptcy law and close support throughout the process from Girona.
Requirementsto apply for the Second Chance Law
Good faith and transparency in the process
The applicant must demonstrate that they have acted in good faith, that is:
- Not hiding assets or income.
- Not having been convicted of economic crimes in the last 10 years.
- Cooperating at all times with the court and with their lawyer.
We analyze your case to initially assess whether you meet all the legal requirements to ensure success in processing the procedure.
Limit of attempts and temporal requirements
It can only be requested once every 10 years, as the objective is to offer a real and responsible opportunity to start over.
Types of debts that can be canceled
The law allows total or partial exoneration of most debts:
- Personal loans and credit cards.
- Mortgages with foreclosed property.
- Debts with banks, financial institutions or individuals.
- Debts with the Tax Office or Social Security (in part).
Real advantagesof applying for the Second Chance Law
Total or partial cancellation of debts
The judge can grant exoneration of unsatisfied liabilities (EPI), rendering debts that cannot be paid ineffective, and allowing the debtor to start over.
Protection against seizures and judicial executions
During the process, seizures and executions are halted, guaranteeing immediate protection against creditors.
Recovery of your financial life and credit reputation
After exoneration, you will be able to rehabilitate your credit history and operate financially again without restrictions or blocks.
Procedureupdated step-by-step
Preliminary study
We conduct a thorough analysis of your economic and financial situation to evaluate the feasibility of applying for the Second Chance Law. We review your credit history, debts and necessary documentation to determine if you meet the legal requirements.
Initial phase: filing with the court
The process begins with filing the application with the Commercial Court, including all economic and financial documentation of the debtor.
Exoneration of unsatisfied liabilities (EPI)
Once the case is analyzed, the judge can grant definitive or provisional exoneration of debts.
This means that the client is legally free from paying the debts included in the resolution, and all those not included but that exist and are exonerable. Don't worry if you don't know the total debt and creditors. We review your debtor situation on all debt portals.
Why trust our team?
Specialization in bankruptcy and insolvency law
We are a law firm specialized in Second Chance and individual bankruptcy proceedings, with a high success rate in Girona and throughout Spain.
Comprehensive advice throughout Spain
We serve both in person in Girona and remotely throughout the national territory, adapting to the client's comfort.
Real success cases
Numerous individuals and self-employed workers have already managed to cancel debts exceeding €100,000 with our professional advice.
Frequently Asked Questions
We answer the most common questions about our legal services. If you don't find the answer you're looking for, don't hesitate to contact us.
Yes, the 2022 reform allows partial exoneration of these debts within certain limits.