Second-Chance Mechanism in Santander

If you have debts you cannot pay, the Second-Chance Mechanism allows you to cancel them and start over. At BBM Abogados we study your case and tell you clearly whether you can qualify.

  • Over 30 years of experience
  • Personal, close attention
  • First consultation with no obligation
Discuss your case with no obligation

We help you throughout the whole process

Insolvency proceedings Debt claims and defence Unfair terms and cards

Who can qualify? Requirements

Individual

Any private individual or self-employed worker. The procedure deals with all your debts together.

State of insolvency

You cannot meet your debts on a regular basis, whether currently or imminently.

Debtor in good faith

Your insolvency must not result from fraudulent conduct. This is the central requirement of the law.

No previous conviction

Not having been convicted of certain economic offences or offences against property in the preceding years.

What is the Second-Chance Mechanism?

The Second-Chance Mechanism (Ley de Segunda Oportunidad) is the legal mechanism that allows individuals —both private individuals and the self-employed— to cancel the debts they cannot pay and start again without that burden. It is governed within the Insolvency Act and takes the form of what the law calls the discharge of unpaid liabilities.

In other words: if you have been dragged into a state of insolvency —due to a business that did not work out, an illness, the loss of your job, or an accumulation of loans and cards— and you cannot meet your debts, the law offers you an orderly and legal way out to free yourself from them.

At BBM Abogados, a firm in Santander since 1990, we study your case with complete transparency and tell you from the outset whether you can qualify and what outcome you can expect.

Which debts can be cancelled?

Through this procedure, virtually all private debts can be cancelled: personal and mortgage loans, credit cards, microloans, financing lines, guarantees, and debts to suppliers.

Public debt (the Tax Authority and Social Security) has legal limits on discharge. However, this is an area in full evolution: recent rulings from the Court of Justice of the European Union and the Spanish Supreme Court are expanding the possibility of cancelling this type of debt as well. That is why it is essential to analyse each case individually.

Second chance for the self-employed

The self-employed are one of the profiles that benefit most from this law. If your activity has generated debts you can no longer take on, the Second-Chance Mechanism allows you to cancel them and, in many cases, keep working through a payment plan tailored to your real capacity.

Why BBM Abogados?

Since 1990 we have been defending the interests of individuals and businesses in Santander and Cantabria. We approach every case with rigour, a personal touch, and complete transparency: we explain the procedure in clear language, without false promises, and we stay with you until the end. If you think the Second-Chance Mechanism could be your solution, tell us about your case with no obligation.

The process, step by step

  1. 1

    Feasibility study

    We analyse your situation, your debts, and your assets, and tell you honestly whether your case fits.

  2. 2

    Preparation and application

    We gather the documentation and file the application with the competent court.

  3. 3

    Liquidation or payment plan

    Depending on your case, the available assets are liquidated or a payment plan is set up to suit your capacity.

  4. 4

    Discharge

    The judge issues the ruling that cancels the outstanding debts: you start over without that burden.

The benefits of working with BBM Abogados

Real experience

Over three decades resolving cases in Santander and Cantabria give us a perspective that makes the difference.

Swift response

We know legal deadlines are critical. We act quickly so you do not lose any right for the sake of time.

Specialist team

Our lawyers are in constant training and up to date with every legislative change that may affect your case.

A close approach

Every client receives direct, personal attention. We explain each step clearly, without unnecessary jargon.

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What do our clients say?

EXCELLENT

Based on 106 reviews

Google
M
Marta Cavestany Alija
Excelentes profesionales, muy amables. Muchas gracias
M
María Fernández
En los temas en los que he contado con ellos son eficientes y muy profesionales. Totalmente recomendables.
V
Violeta Peralta Cancela
Muy buena profesionalidad, atención personal por parte de todo el equipo. Servicio muy satisfactorio. 👏☺️
B
Brigitte Peralta
Excelentes profesionales y un trato estupendo.
C
Carlos García
Grandes profesionales, te resuelven todas las dudas legales, rápidos y eficientes. Totalmente recomendable.
a
agua salada
Acudí a este bufete con un tema muy sensible y la atención, el trato, la dedicación y el resultado no pudo ser mejor. Grandes profesionales que trabajan con verdadera vocación.
A
Apartamentos Natura Cantabria
¡Personal 100% de confianza, grandes profesionales y trámites rápidos y eficaces! ¡Gracias!
A
Antonio Muñiz
Grandes profesionales.

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Who do we help in Santander and Cantabria?

From our office in the centre of Santander we provide full legal cover and defence to clients across Cantabria:

  • Individuals and families who need to resolve civil disputes, inheritance, separations or criminal defence.
  • Self-employed and professionals who need ongoing advice and tailored solutions.
  • Small and medium-sized businesses seeking preventive, commercial, tax or employment advice.
  • Clients in Santander, Torrelavega, Camargo and the surrounding towns who want a close, agile and effective firm.
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Frequently asked questions

Who can use the Second-Chance Mechanism? +

Any individual —private individual or self-employed— who is insolvent (unable to meet their debts), acts in good faith, and has not been convicted of certain economic offences in the preceding years. At the first consultation we assess whether you meet the requirements.

Which debts can be cancelled? +

Most private debts: loans, credit cards, microloans, guarantees, and debts to suppliers. Debt with the Tax Authority and Social Security has legal limits on discharge, although recent case law from the CJEU and the Spanish Supreme Court is expanding its cancellation. We analyse your specific case.

Can I keep my home? +

It depends on your situation. There are two routes: discharge with a payment plan (which may allow you to keep assets by paying part of the debt over a period) and discharge with liquidation of assets. We explain which one suits you.

Does it work for the self-employed? +

Yes. Self-employed workers who are insolvent and acting in good faith can qualify and, through the payment plan, in many cases continue their activity while cancelling the rest of the debt.

How long does it take to cancel the debts? +

Every case is different, but the procedure usually unfolds over several months. From the very start we give you a realistic timeline for your situation.

Experts in Second-Chance Mechanism in Santander

At BBM Abogados we put a team with over 30 years of experience at your service to advise you and defend your interests with a close, rigorous and results-driven approach across Cantabria.

Contact us