Insolvency proceedings

25 Mar 2026

According to STS 260/2026 and STS 254/2026, surcharges, default interest and penalties owed to the AEAT are subordinated claims and can be discharged.

5 Mar 2026

The Second Chance Law (Ley 16/2022, Art. 491 TRLC) allows any individual — employees, self-employed, pensioners, unemployed — to cancel debts they cannot pay when those debts have outstripped their real economic capacity, regardless of whether they ever ran a business.

1 Mar 2026

Self-employed workers (autónomos) can use Spain's Second Chance Law (Ley 25/2015, reformed by Ley 16/2022) to discharge business debts — including supplier debts, bank loans, leases and personal guarantees — that exceed their ability to repay.

28 Feb 2026

Spain's Second Chance Law (Ley 25/2015, reformed by Ley 16/2022) is available to any individual — including salaried employees — who is insolvent. You do not need to have run a business.

15 Feb 2026

Having a mortgage on your primary residence does not automatically disqualify you from the Second Chance Law. The procedure distinguishes between the mortgage debt (specially privileged creditor) and unsecured debts — the two are resolved on different tracks.

5 Feb 2026

Once the EPI (Exoneración del Pasivo Insatisfecho — debt discharge) becomes final, discharged debts are permanently extinguished. Creditors for those debts cannot pursue you again — not in court, not via debt collectors, not against your wages.

20 Jan 2026

Concurso de acreedores (corporate insolvency) is Spain's formal insolvency process governed by the Texto Refundido de la Ley Concursal (TRLC), substantially reformed by Ley 16/2022, which transposed EU Directive 2019/1023 on preventive restructuring frameworks.

15 Jul 2025

Accidental insolvency is the residual category: any insolvency that is not culpable.

2 Jun 2025

The microenterprise procedure (for companies with liabilities below €1 million) can be resolved in two to four months.

21 Apr 2025

Limited companies and other legal entities cannot use this mechanism.