A retired couple in Segrià has been exonerated from a debt of more than €1 million after a ruling by Commercial Court No. 1 in Lleida. The decision was made under Spain's Second Chance Law.
The couple, whose names were not released, had built up significant financial obligations. The court's ruling means they are no longer legally required to repay the sum.
The Second Chance Law, known in Spain as the Ley de Segunda Oportunidad, allows individuals and self-employed workers to restructure or cancel debts if they meet certain conditions. It is designed to give people a fresh start when they face severe financial difficulty.
In practice, the law requires debtors to show good faith and, in many cases, to try to reach an out-of-court agreement with creditors before a judge steps in. More background on local coverage can be found on our news page.
The ruling in Lleida shows how the law can apply to ordinary households, including retirees facing pressure later in life. It also gives the couple a final resolution to a long-running financial problem.
For official context on the law, readers can refer to Spain's Ministry of Justice and the Boletín Oficial del Estado, which publishes state legislation.
