The Court of First Instance No. 1 of Arrecife has granted the total discharge of their debts to a Lanzarote couple who, after more than a decade of effort and economic difficulties, have managed to free themselves from a burden amounting to over 90,000 euros. The ruling, issued on September 25, puts an end to a period marked by uncertainty and financial anguish.
The protagonist of this story, self-employed for much of his working life, recalls that the problems began around 2009, when his business began to suffer the consequences of the economic crisis. "We applied for a credit line to keep the business going, but when it expired, we had to apply for an ICO loan to cover it. Then came the delays with suppliers and the rent for the premises, and in the end, we had to close," he explains.
To try and cope with the debts, the couple decided to remortgage their family home, hoping the situation would improve. However, the recovery never came. “We kept paying as best we could, with credit cards, small loans, even mini-loans. But each month was worse. It reached a point where all the money went towards installments,” they recall
Among the creditors were entities such as Banco Santander (73,319 euros in mortgage), BBVA, Cofidis, Pepper Assets Services, Equin Capital, Santander Consumer Finance, and Wizink Bank, among others. In total, the debts amounted to more than 90,000 euros, an **unaffordable figure** for a family trying to get by after years of sacrifice and irregular work
The couple, married under the community property regime, had been separated in fact for five years, as the wife currently resides in Bolivia, which further aggravated the debtor's economic and emotional situation. “Sometimes you think you can handle everything, but reality sets in. There comes a point when all you can do is ask for help,” he admits.
At that point, she decided to go to the Debt Relief Association, an organization that advises and supports people trapped in situations of over-indebtedness. The legal team, led by lawyer José Domínguez, took on her case and processed the Second Chance Law procedure, which culminated in the definitive discharge of all her debts."These types of cases demonstrate that debt is not just an economic issue, but also an emotional and social one," explains José Domínguez, the Association's lawyer. "Many people go into debt trying to keep their jobs or protect their families. When the confidence in being able to comply is broken, the very value of the debt vanishes. The Second Chance Law allows us to restore that confidence and offer a real way out."
As of today, this Lanzarote native has managed to stabilize his life: he has a job, has reorganized his expenses, and, above all, has regained his serenity. "I can finally sleep peacefully. It's not just about money, but about regaining dignity and hope," he confesses.
From the Association for Debt Relief, they recall that the Second Chance Law is not a privilege, but a legal right that good-faith individuals who can no longer meet their debts can avail themselves of. Cases like this demonstrate that, even when it seems all is lost, there is always a way out.
