A married couple from Arrecife, in Lanzarote, The Second Chance Law has allowed them to free themselves from an accumulated debt of about 38,000 euros and keep their vehicle. The lawyers of the firm Canarias Sin Deuda have carried out the processing of the process that has concluded with the cancellation of all the charges that the spouses had contracted after resorting to loans and credit cards to cover their basic needs.
The husband, José Vicente Payá, was going through a complex labor and economic situation as he was unable to work due to injuries resulting from a traffic accident he suffered in April 2019, which led him to undergo several operations. After the accident, and without having completed the recovery, he was forced to resume his work activity, until in 2020 the physical limitations he suffered led him to take sick leave, then considerably reducing his income.
His wife, Margarita Osorno, lost her job due to the closure of the sector in which she worked during the pandemic, going on to receive unemployment benefits of 451 euros per month.
Faced with the lack of liquidity, the debtors were forced to use credit cards from different financial and credit institutions to meet the vital expenses of the family unit. Likewise, with this extra income they intended to cover other credits that they had in force and whose payment, until then, they had been assuming without special difficulty.
However, the accumulated amount of the fees soon exceeded that of the income, making the payment of vital expenses and compliance with the obligations to creditors incompatible, so they fell into a deep situation of insolvency.
The couple previously tried to reach an out-of-court payment agreement with their creditors. Failing to reach a satisfactory agreement, they resorted to the Second Chance Law in search of financial relief. This legislation offers a way out for people and families who are in a situation of economic insolvency, offering them the possibility of renegotiating their debts and canceling them partially or totally.
"We still can't believe that our debt has been exonerated," they say surprised. "It has been a very complicated time in which our efforts did not give results and the health problems together with the economic ones did not let us see the light until now," they add. "Thanks to Canarias Sin Deuda, we are managing to get back on our feet and live again without fear of calls or threats," says Margarita Osorno.
"It has been a very complicated time in which our efforts did not give results and the health problems together with the economic ones did not let us see the light"
The coordinator of the Canarias Sin Deuda office in Lanzarote, Erik Curquefo, explains that "after having studied the case of this marriage, we determined that they met all the requirements to benefit from the Second Chance Law." "We carried out the processing, counting at all times, not only with their commitment, but also with their total collaboration," he points out. "This fact has been fundamental to achieve a favorable result," he adds.
In addition, "seeing that she now has a stable job and he has a disability benefit makes us optimistic about their future away from debts," he concludes.
