The Second Chance Act may include the expected Fresh Start in the Spanish System

In different manifestations, Government representatives, including Minister of Economy Luis de Guindos, have confirmed Government’s will to produce the highly demanded “Second Chance Ac ” to configure a fresh start for entrepreneurs and self-employed.

In different manifestations, Government representatives, including Minister of Economy Luis de Guindos, have confirmed Government’s will to produce the highly demanded “Second Chance Ac ” to configure a fresh start for entrepreneurs in Spain and self-employed. Therefore, their debts due to business failures will not haunt them for the rest of their lives . Currently any entrepreneur or self-responds outstanding debts throughout his life , looking convicted of any failed project , unlike what happens in most neighboring countries . Today there are some steps to alleviate this situation, as introduced by Law in Support of entrepreneurs and internationalization of September 27th 2013, however, it is very limited solutions that have little or no practical application. Confirmed the creation of the Second Chance an important impetus would be given to the Spanish entrepreneurs, since that would avoid being harassed by debt arising from a business failure throughout his life.