when you talk about bankruptcy proceedings, The first image that comes to mind is big company bankruptcies, with processes that take years and often end with the liquidation of the company. But the truth is that since the so-called law came into force, Second Chance Law In 2015, more and more people are resorting to this figure to get rid of their debts. A trend accelerating in the past year, such that for the first time, natural persons not an entrepreneur they were in the majority of applications It was presented in the Alicante courts.
It is a trend that is expected to continue upwards after the recent events. bankruptcy law reform which came into force last fall and further simplifies the procedure to follow, shortening deadlines.
The numbers speak for themselves. According to the data of the General Council of the Judiciary, throughout the year 2022 1,025 contests submitted creditors in the province 35% more The highest figure compared to the previous year and in the entire historical series. That means practically three bankruptcy filings a day.
However, if you go into detail, it is observed that despite the uncertainties and the increase in costs, applications submitted by companies have hardly changed, a total of 306 competitions were registered, compared to 308 the previous year. Yes, there has been a certain increase in the bankruptcy of real businessmen, or in other words, of those who went bankrupt. self-employmentThat’s up to 148 in total, compared to 128 recorded in 2021.
And what really increased significantly was the apps offered by. individualsthat has been added 571 cases325, 75% more than the previous year.
Behind this increase in individuals’ bankruptcy rates, professionals see a number of factors. more information available about the law itself and the probability of being debt free. It was unthinkable a few years ago when individuals were forced to bear the label of life defaulters if they could not afford their payments. this is what is known as exemption from unfulfilled liability, The great innovation brought by the second chance law.
But there are also economic factors. “There have been many people touched by the pandemicmany self-employed people who failed to revive the business,” recalls the head of the Bankruptcy Law Department of the Alicante Bar Association, Luis Fernando Alonso Saurawhich means that the majority of procedures that reach the courts Non-mass competitions. That is, the applicant no longer has assets to dispose of.
A shared diagnosis Antonio Galveis the legal director of Repara tu Deuda, one of the specialized law firms that has emerged in the field in recent years. “There were many people who saw his income cut offThose who are late in entering ERTE and making collections or who have closed their workplace for a long time, applied for bank financing Survive. People who can’t pay right now,” explains Galve, are one of the most common profiles they come across in companies.
Another factor pointed out by this expert is the end of last July. moratorium The government approved and exempted it from the obligation to declare bankruptcy, which has now resulted in more lawsuits accumulating. But above all Galve Changes to the Bankruptcy Law They encourage more debtors to resort to this mechanism as they significantly streamline the procedures. For example, by eliminating the obligation to try mediation with creditors first, or by giving up the bankruptcy manager figure, unless a creditor requests it.
ICO credits are expected to be refunded
Luis Fernando Alonso Saura, Head of Bankruptcy Law at the Alicante Bar Association, predicts an increase in company bankruptcies in the coming months. Especially due to the expiration of the ICO loans given to guarantee the liquidity of the companies in the restriction and the inability of a significant number of companies to repay them. A situation combined with treasury problems resulting from deterioration in economic activity or increased costs.