By Santiago Carneri
Copyright euroweeklynews
A new lease of life. That is exactly what a woman from Denia has experienced after, thanks to the Second Chance Law, a commercial court ruled to wipe out a bank debt totalling an impressive €158,358.
According to Repara tu Deuda Abogados, a law firm specialising in this field, the woman became self-employed in 2012, working in street trading. She took out loans to cover purchases from suppliers.
However, problems soon arose. As she drew on the credit, interest accumulated until she could no longer keep up with repayments. She attempted to restructure the debt, but the bank refused.
Tragically, in 2017, the woman was involved in a traffic accident that left her unable to continue working. She began receiving a small disability pension, and without her business income, she could no longer meet her financial obligations.
Now, a court ruling has allowed her to eliminate the bulk of this debt. Her story is among the six recent debt relief cases in the Valencian Community within just one month, with a total amount cancelled nearing €1.2 million.
The firm, which specialises in defending consumer rights, reviews contracts with banks and financial institutions to identify abusive clauses.
