Canarias sin deuda manages to redeem the debt of more than 57,400 euros of Alejandro Cabrera, a resident of Yaiza who, after becoming unemployed and unaware of the consequences and high interest rates, resorted to loans to cover his daily expenses.
Alejandro's economic collapse began when he resorted to different loans, easily accessible to anyone, to cover the payment of his expenses. Although at first he could take responsibility for the installments, when both his partner and he lost their jobs, difficulties began to meet the repayment of their loans and their interest, while taking care of their basic expenses.
The Second Chance Law is a mechanism created to help individuals and self-employed workers who are in a situation of insolvency to get ahead and recover their stability, through the total or partial cancellation of their debts. According to Alejandro Bravo, upon learning that his economic problem has been resolved, "When you accumulate so much debt, there comes a point when you can't take it anymore. For this reason, I saw myself in the need to resort to more financing without having sufficient liquidity."
Despite the fact that he got a new job, the accumulated debt was so high that it became impossible for him to face it due to the high interest and commissions that had multiplied. "I went to Canarias Sin Deuda and got an answer. They have helped me," he says.
The coordinator of the Canarias Sin Deuda office in Lanzarote, Lidia Rodríguez, explains that "the relevant financial entities did not carry out the necessary and mandatory feasibility study for the injured party. This, added to the financial ignorance of our client and the fact that he met the requirements of the Second Chance Law, has allowed us to successfully cancel his entire debt."
