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Given the incessant rise in prices for both consumption and electricity, food and habitual expenses of a family or due to the current increase in the Euribor, which has caused an unsustainable increase in our mortgage payments, many citizens find themselves in a situation of economic distress . This can lead to having to default on the obligations contracted such as the payment of the mortgage or the loans that they have requested in order to survive in recent times. Miriam Alonso, from RAAN Abogados, explains various formulas to solve the most complex situations.

We are experiencing a very difficult time for families, who see their domestic economies overwhelmed by the exorbitant increase in their usual expenses. Are there formulas to adapt debts to this new situation?

Today, there are various regulations that can help to get rid of this economic burden, either by requesting the Second Chance Law, in the case of having debts that “drown” us, or by adhering to the Code of Good Banking Practices, for cases in which our mortgage payment has become a disproportionate expense in relation to our income.

Are they really accessible solutions?

Although they may seem unattainable mechanisms and are little known, this has no other cause than the interest of banking and financial entities not to publicize these laws that protect families who are in a situation of vulnerability because, obviously, they go against of their economic interests and in favor of the citizens.

Where can you receive complete information on how to access these mechanisms?

If today you have debts that you cannot assume or you are having trouble paying all the payments, our team of professionals can help you, in an agile and totally personalized way, to eliminate them forever or adapt them to your current economy. .

He was commenting on the existence of the Second Chance Law, what exactly is it?

The Second Chance Law, in force since 2015, is a legal mechanism that aims to free individuals and self-employed individuals overwhelmed by a number of debts that, through no fault of their own, they are unable to assume.

The increase in Euribor has led many families to see how their mortgage payments increase without being able to meet this expense. How can the Code of Good Banking Practices help them?

The Code of Good Banking Practices has been in force since 2012 and is a regulation that obliges banks to reduce the mortgage payment, with a grace period and a minimum interest for five years, to reduce the capital owed or even to accept the dation in payment. Both regulations have been adapted in 2022 to be more agile and accessible to citizens.

RAAN Abogados has extensive experience in helping families in a vulnerable situation to benefit from these aids. What is the process like?

At RAAN Abogados we advise on the process and, in a completely free first visit, which may be in person or by video call, from the comfort of your home or office, you will be informed of your possibilities and the procedures necessary to achieve the final objective: get rid of all your debts or lower your mortgage payment.

Many of these processes are arduous, sometimes endless. How do you develop in these cases?

The process, with the help of RAAN Abogados staff, is quick and simple, even offering the possibility of collecting the necessary documentation for the client to start the process, without having to go to any body and, thus, reaching the goal faster and more simple. The entire process is personalized, designed solely for each client.

And what is achieved when the process is finished?

Once the process with us is finished, the client will recover his solvency and his financing capacity, which means eliminating all his data from the delinquency files, being able to obtain financing, credit cards, eliminating any embargo and literally erasing his past. as debtor. We have succeeded many times and customers are very grateful. It is a unique opportunity, with the advice and help of highly experienced professionals, to start a new life.