As a lawyer expert, my team and I discussed these four key points to ensure that your case is viable:
This is the fundamental requirement: you can't regularly pay off your debts.
What does it mean? The fees of your debts, along with your basic expenses exceed the income that you have. In other words, you cannot cope with your financial obligations with the cash that you generate.
If you do not get to the end of the month or you're already in breach of payments in the usual way, you meet this point.
You must demonstrate that you have acted in “good faith” to go into debt. This is a point that evaluated the courts, but is summarized in avoiding certain negative behaviors:
The absence of Convictions: You may not have been convicted with a final judgment in the last 10 years by socio-economic offences (against the Treasury, Social Security, estate, workers ' rights, or false documentary).
Not to Be Guilty in the Contest: You must not have been convicted in a contest of creditors earlier.
Avoid Reject Employment: If you're on unemployment, you should not have rejected an offer of employment is appropriate to your capabilities in the last four years.
The law sets clear limits for the process to be applicable and accessible:
Debt ceiling: The total amount of debt that you accumulate more can't be more than 5 million euros. (The threshold is very high, most of the individuals comply with this point).
Age: You may not have applied the procedure of the Second Chance act during the last 5 years.
If you feel that you meet these requirements, the most important step is to start the free scan. In a Legal Fix, review your documentation and will confirm 100% if you can accept the law and begin to cancel your debts.
We are a law firm dedicated to providing legal solutions in the Law of the Second Chance.
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