The discharge of unsatisfied liabilities<\/b> is a fundamental tool in bankruptcy proceedings, especially for insolvent individuals. This figure allows the debtor to be released from certain debts after the end of an insolvency proceeding, provided that the conditions established by law are met. At Tecem Abogados<\/b>, specialized in insolvency law in M\u00e1laga, Benalm\u00e1dena and the Costa del Sol<\/b>, we advise our clients on how the discharge of unsatisfied liabilities affects the credits and how to proceed in order to obtain the best results in their case. <\/p>\n
What is the exoneration of unsatisfied liabilities?<\/b><\/b><\/p>\n
The exoneration of unsatisfied liabilities<\/b> is a mechanism provided for in the Insolvency Law<\/b> that allows individual debtors to be released from debts that they have not been able to pay after the end of an insolvency proceeding. This includes most debts, with some exceptions established by law, such as debts for alimony or certain administrative sanctions. The main objective of this procedure is to offer a “second chance” to the debtor, allowing him\/her to reintegrate into economic life without the burden of previous debts, provided he\/she has acted in good faith. <\/p>\n
Case study: What happens with the credits not recognized in the insolvency proceeding?<\/b><\/b><\/p>\n
A recent case dealt with by the Provincial Court of Badajoz<\/b> (AP Badajoz auto 25-1-24, EDJ 600668) clarifies how the exoneration of unsatisfied liabilities works in relation to credits not expressly mentioned in the exoneration resolution. In this case, an auditing firm sued an individual for a debt arising from a contract for the provision of services. The debt was documented in an invoice dated May 2022. However, the defendant claimed that this debt had been exonerated by an order of the commercial court in February 2023, in which the exoneration of the unsatisfied liability was agreed. The plaintiff company argued that the debt had not been recognized in the insolvency proceedings and, therefore, was not exonerated. The Provincial Court<\/b> concluded that the exoneration of unsatisfied liabilities extends to all exonerable debts, regardless of whether they are specifically mentioned in the bankruptcy resolution. This means that the creditor cannot claim the debt if it is exonerable under Article 489.1 of the Insolvency Law<\/b>.<\/p>\n
What debts are waived?<\/b><\/b><\/p>\n
According to the Bankruptcy Law, the discharge of unsatisfied liabilities<\/b> covers all debts of the debtor, except those expressly excluded by law. These debts include, among others:-Tax<\/b> debts. –Maintenance<\/b> debts (such as alimony). –Administrative<\/b> penalties and other public law obligations. Therefore, if a debt is considered dischargeable and does not appear among the exceptions, it will be discharged after the discharge resolution, even if it is not expressly included in the operative part of the resolution. <\/p>\n
Key aspects of the exoneration procedure<\/b><\/b><\/p>\n
Acting in good faith<\/b>: The debtor must demonstrate that it has acted in good faith during the insolvency proceedings in order to benefit from the exoneration of unsatisfied liabilities. 2.Exonerable credits<\/b>: The law defines which debts can be exonerated and which cannot be exonerated, such as public debts or alimony.General effect<\/b>: The exoneration extends to all exonerable debts, even if they are not mentioned in the resolution of the insolvency proceeding.Debtor protection<\/b>: This figure protects the debtor from further claims by creditors once he\/she has been exonerated.<\/p>\n
Advising on bankruptcy proceedings in Malaga and the Costa del Sol<\/b><\/b><\/p>\n
At Tecem Abogados<\/b>, we have a team of lawyers specialized in insolvency law<\/b> who can advise you on all aspects related to the discharge of unsatisfied liabilities<\/b> and insolvency proceedings. If you are facing an insolvency situation or have doubts about how to proceed to get rid of your debts, do not hesitate to contact us<\/b>. We offer a comprehensive legal advice service for individuals and companies in Malaga, Benalmadena and the Costa del Sol<\/b>, helping our clients to obtain a second financial chance. <\/p>\n","protected":false},"excerpt":{"rendered":"
The discharge of unsatisfied liabilities is a fundamental tool in bankruptcy proceedings, especially for insolvent individuals. This figure allows the debtor to be released from certain debts after the end of an insolvency proceeding, provided that the conditions established by law are met. At Tecem Abogados, specialized in insolvency law in M\u00e1laga, Benalm\u00e1dena and the […]<\/p>\n","protected":false},"author":1,"featured_media":2318,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","rank_math_title":"Exoneration of debts | Tecem Abogados","rank_math_description":"Exoneration of debts en M\u00e1laga con total garant\u00eda jur\u00eddica. Asesores especializados, resultados probados. Primera consulta gratis.","rank_math_canonical_url":"","rank_math_focus_keyword":"Exoneration of debts"},"categories":[59],"tags":[74],"class_list":["post-2321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-exoneration-of-debts-in-bankruptcy-proceedings"],"acf":[],"_links":{"self":[{"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/posts\/2321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/comments?post=2321"}],"version-history":[{"count":1,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/posts\/2321\/revisions"}],"predecessor-version":[{"id":2329,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/posts\/2321\/revisions\/2329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/media\/2318"}],"wp:attachment":[{"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/media?parent=2321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/categories?post=2321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tecemabogados.com\/en\/wp-json\/wp\/v2\/tags?post=2321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}