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What it is

Bill proposes debt relief and a fresh start for debtors

Admitted step 2 of 7 · Unfinished

It is a members’ bill. Introduced by parliamentary groups, the Senate, regional governments or citizens. It was introduced on 10 January 2018. Introduced by: Grupo Parlamentario Ciudadanos.

Official title: Private member's bill on Second Chance.

Follow this law

Source: Congreso de los Diputados, file 122/000165· updated 11 Nov

Automatic summary, not yet reviewed

  1. The bill would make it easier for individuals to reach an out-of-court payment agreement with their creditors: it would allow debts to the Tax Agency and Social Security to be included, would suspend foreclosures and seizures during negotiations, also for guarantors, and would lower the creditor majorities needed to approve the agreement.
  2. It would allow a judge to approve (homologate) the out-of-court payment agreement, extending its effects to creditors who did not back it, and would set out what happens if it is later breached or only partly fulfilled.
  3. It would expand the benefit of the discharge of unsatisfied liabilities, meaning the forgiveness of remaining debts: it would cover debts to the Tax Agency and Social Security, ease the good faith requirements, and only exclude fines, penalties, alimony and extracontractual civil liability.
  4. It would let debtors request the discharge without first liquidating all their assets, through a court-approved payment plan, at several points in the insolvency proceeding or even before it is declared.
  5. It would establish the right to cancel the mortgage debt on a primary home by handing it over to the creditor (Dación en pago Handing over the home to the creditor to cancel the mortgage debt.), and to stay in it under social rent for three years, extendable to five, paying at most 30% of income; for vulnerable situations, the stay would be free for two years.
  6. It would expand which income cannot be seized: it would raise the minimum wage thresholds based on family responsibilities and protect public benefits such as unemployment subsidies, dependency benefits and social insertion incomes.

Who it affects

  • Individuals in debt, including self-employed people and sole traders: They could renegotiate their debts and eventually have them forgiven.
  • Families struggling to pay the mortgage on their primary home: They could hand over the home to cancel the debt or stay under social rent.
  • Guarantors in vulnerable situations: The protections of the agreement and the discharge would extend to them.
  • Creditors, including the Tax Agency and Social Security: Their debts could be included in the agreements and forgiven.

Words worth knowing

Acuerdo extrajudicial de pagos
A negotiation between the debtor and creditors, with a mediator's help, to restructure debts without going to trial.
Exoneración del pasivo insatisfecho
A court-ordered forgiveness of the part of the debts the debtor cannot pay.
Dación en pago
Handing over the home to the creditor to cancel the mortgage debt.
Concurso de acreedores
A court proceeding to resolve the insolvency of a person or company that cannot pay its debts.
Alquiler social
Staying in the home while paying a reduced rent, calculated based on income.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 2 of 7 steps. It reached Admitted, and today it is unfinished.

  1. Introduced10 January 2018Someone registers the text in the Congreso.
  2. Admitted30 January 2018The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendmentsnot reachedGroups propose changes.
  4. Committeenot reachedA committee goes through the text in detail.
  5. Plenarynot reachedThe deputies vote, usually in the plenary; some laws are passed by a committee without going to it.
  6. Senatenot reachedThe Senate can pass it, amend it or veto it.
  7. BOEnot reachedThe King gives royal assent and it is published in the Official State Gazette (BOE). It comes into force on the date it sets, or after 20 days if it sets none.
See the 6 official steps on a timeline
Mar 2018Jun 2018Sept 2018Dec 201811. 10 January 2018: Presentación22. 30 January 2018: Boletín Oficial de las Cortes Generales Publicación desde 30/01/2018 hasta 02/02/201833. 30 January 2018: Calificación44. 2 February 2018: Gobierno Contestación desde 02/02/2018 hasta 10/03/201855. 10 March 2018: Pleno Toma en consideración desde 10/03/2018 hasta 05/03/201966. 5 March 2019: Concluido - (Caducado) desde 05/03/2019 hasta 27/03/2019

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

The legislature ended before it finished. To go on, someone would have to introduce it again in the new Cortes.

It has not been presented again yet.

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

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