For many, if not for the vast majority, it remains a great unknown. But the truth is that it can be the solution for all those people who, today, are suffering economic havoc and cannot cope with their debts.
The Second Chance Law is the legal mechanism that allows freeing oneself from debt and getting out of a situation of over-indebtedness, a law that has experienced notable growth in recent years due to the pandemic.
Approved in Spain in 2015 by mandate of the European Directive, this legal standard can be adhered to by individuals as well as self-employed and entrepreneurs. It is a law expressly designed to rescue all individuals affected by the economic recession, in a similar way to how companies do when they become insolvent.
In this way, in addition to granting the possibility of getting the life of an over-indebted person back on track, entrepreneurship is promoted thanks to a law that functions as a support network in the event of business failure.
The law firm for your debts is one of the leading companies in this sector in Spain, a legaltech dedicated exclusively to canceling debts that stands out for its firm commitment to technology as a method to streamline and democratize this legal mechanism. “Easy, fast and safe” is the philosophy of this successful company.
Fina Salazar, co-founder of the company, tells us how they came to this conclusion: “The Second Chance Law is ideal for many people, it works like a safety net in case of falling into a situation of over-indebtedness, like an emergency door. that we can use in case of need, but we realized that a lot of clear and precise information was missing so that people could really benefit from this law, as well as an agile and simple system that would allow us to avoid all the obstacles of the legal world: times procedures, bureaucracy, unnecessary meetings, etc.”
In order to avoid all this, Lawyers for your debts has created its own software that allows all the legal process procedures to be carried out in an easier, faster and safer way, reducing time and costs for both the client and the office.
This technological platform manages to simplify all the bureaucratic part of the legal process at the same time that it allows the client to be permanently connected with the legal team in charge of their file, resolving all doubts through the different communication channels. A formula to cancel debts that combines the closeness and knowledge of the firm’s lawyers with the efficiency and immediacy of technology.
The firm itself shares with us its satisfaction with the results: “for us it is vital not only to achieve great results, but also to do it in the shortest time possible. We are aware that the Second Chance process can be a complicated path, that creditors call and that there are delicate situations. That is why we are very proud to have reduced the duration of the process from four years to 18 months, reaching debt forgiveness as soon as possible, which is what we all really want” -explains Elisabet de Vargas, co-founder of Lawyers for your debts-.
With this new online debt cancellation process, the imbalance that the national territory has historically suffered is definitively broken, where a large number of Second Chance Law cases took place in large cities, due to the concentration of a greater infrastructure legal, both offices and notaries and courts.
Now, with the implementation of new technologies, access to this law is democratized for all citizens of Spanish territory, allowing the legal process to be carried out comfortably from home, with their own mobile. This implies greater independence and the saving of a large number of procedures that slow down the process itself.
Lawyers for your debts already has extensive experience in the sector, accumulating more than 13 million euros in canceled debts, and they are clear about the future. “The future of this legal mechanism goes through digital transformation, in the same way that many other sectors have already done in recent years. The key is to do it well and as soon as possible, and that is where we have put all our efforts” -explains Cristian Tanase, co-founder of the company- “The law itself is about to change to be much faster and cheaper, and as a firm we have to be prepared to offer the best legal service”.
