Mechanism of the second opportunity.

Mechanism of the second opportunity.

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 According to the situation that has crossed our country, and especially small and medium entrepreneurs, who have emerged as the group’s debt together with the consumer, the breath of fresh air emerges, the SECOND CHANCE.

The reform is aimed at allow anyone who he has lost everything for having liquidated all their heritage for the benefit of its creditors, can be freed from most of the outstanding debts upon any such liquidation. Therefore, this amendment allows an individual, despite an economic failure, can track again your life. The entry into force of this Royal Decree affects areas such as social security, administration of justice, tax matters and bankruptcy proceedings.

The latter is the more relevant in the face of business, and includes the following points, all of them aimed at reducing the financial burden

  1. Make more flexible the extrajudicial payment arrangements, being remarkable at this point the debt relief scheme for natural person debtor under the bankruptcy procedure. It thus creates an alternative to the bankruptcy procedure.

  1. Improvement of the “Code of Practice for the viable restructuring of debts secured by mortgages on the principal residence”. Increasing the annual income limit of the beneficiary families, including new assumption as particularly vulnerable to the debtor is older than 60 years and introducing a new way of calculating the limit of the price of real property acquired. Additionally, the final clauses derogating from the soil of those debtors located in the new threshold of exclusion that have included in their contracts is introduced.

  1. Be extended for a further period of two years suspension of evictions on primary residences of especially vulnerable groups.

As for the remaining areas we include establishing a new incentive for the creation of stable employment, involving the setting of a minimum exemption on corporate contribution for common social security for workers permanent contracts for contingencies, as well as benefits Social Security for those cases where the freelancer must meet family obligations that might influence their activity.

All these measures as we see aimed to revive the economy being in the doldrums came so far and give a boost to the group most affected and most necessary.

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