It offers individuals and freelancers the possibility of canceling debts, without neglecting the collection rights of their creditors, allows the debtor overwhelmed by their debts to renegotiate or exonerate them.


- It is necessary to demonstrate that all assets or personal assets have been liquidated in the bankruptcy and that the debtors' requirements cannot be met. That is, the individual or autonomous cannot have money or assets, since otherwise he would be forced to pay his debt.

- Not be the subject of a guilty contest or have been convicted of economic or social crimes.

- Act in good faith. This requires that you try an out-of-court solution and that you have not frustrated the possibilities of payment (for example, rejecting job offers in the last four years).

- Not having come to the benefit of exemption of payments in the last ten years.

- Having satisfied the credits against the mass and the privileged. It is also required that you have paid 25% of the ordinary credits. This requirement may decline as long as it is demonstrated that the credits were attempted to be paid.


1.- EXTRAJUDICIAL payment agreements

The out-of-court settlement of payments is a renegotiation of the debt. Its objective is that the creditors are not completely frustrated, looking for a payment in the future. The duration of these agreements cannot exceed ten years, and they include withdrawals and waits to make the payment feasible.

In any case, said extrajudicial agreements will be supervised by a judge, with the possibility of a bankruptcy mediator intervening to try to find an agreement.


In the event that extrajudicial payment agreements fail or are insufficient, this benefit of exemption from the dissatisfied liability (BEPI) would come into play. Thanks to it, the debtor can get rid of unprivileged credits.

Creditors may request revocation of this benefit when the Second Opportunity Law is abused. Specific:

When the debtor enters into circumstances that would have excluded the application of this benefit.
If you breach your payment plan.
When your economic situation improves so that you can pay off your debts.
Or when the existence of hidden income, assets or rights is discovered.
The benefit of exemption has facilitated the possibility of resorting to mechanisms such as the payment date or the payment date.

Thus, the Second Opportunity Law has become an escape route for mortgaged debtors who, after losing their home, still had debts with the bank.

Of course, for this benefit to be effective, it is necessary that the impossibility of payment does not depend on the will of the debtor. Concurring with this and the previous requirements, the delivery of the house will allow the insolvent to exempt himself from the payment of the remaining amount of his mortgage loan.