Christian Tenasi

This is a good question because all of our customers ask this.

But if you, let's say, we charge 3,000K for someone who has debt between 30K and 50K.

So if you put it in the balance, the amount that the client pays is less than what, it's a small amount compared of total amount of their debt.

And the client could start like a new, let's say, it's a new opportunity.

The law is called second opportunity.

Exactly.

Exactly.

The lay is approved in Spain and it's working.

Exactly.

So this law has, let's say, four parts.

The first part is you need to gather a lot of documents.

So it means it has a lot of bureaucracy.

After you gather all of those information, you need to go to a notary.

and ask for a mediator to mediate with all the creditors.

When you go to the mediators, you need to propose a debt restructuring plan.

If the creditors accept the debt restructuring plan, we could talk here about, let's say, discount of the debts between 20 to almost 80% of the debt.

Instead of a client to pay, instead of paying, let's say, 20k to a creditor, he will pay with a discount an 18% of discount of this or that payment or that debt.

And at the end, if the creditors don't accept this payment plan,

You need to go to the last step that is called in the judge.

You need to present in the judge everything that you did before.