# Debt relief and insolvency laws in Colombia, Spain, and AR

> Developing situation record from CLSTR: https://clstr.news/situations/debt-relief-and-insolvency-laws-in-colombia-and-spain
> Updated: 2026-11-09T05:00:00.000Z. Sources: 3. Developments: 4.

In Colombia, the Oficina Empresarial, a partnership between the Manizales Mayor’s Office and the Chamber of Commerce of Manizales por Caldas, offers free legal advisory services to help entrepreneurs and renegotiate bank debts.

In Spain, the ‘Ley de Segunda Oportunidad’ (Second Chance Law) continues to facilitate debt exoneration. Recent successful applications include a man in Madrid discharging 25,456 euros in debt related to professional studies and vehicle costs, and a mother in Barcelona clearing 26,830 euros after losing her family’s sole income. These cases follow previous exonerations in Vigo, Utebo, and Seville. The law firm Repara tu Deuda Abogados reports facilitating over 454 million euros in exonerations since 2015.

However, the scope of the law faces legal scrutiny. In Alicante, Judge Gustavo Andrés Martín has referred a question to the Court of Justice of the European Union regarding whether debt relief should be total to allow a true fresh start. This follows a Spanish Supreme Court ruling that sought to limit forgiveness to only those credits specifically identified and communicated by the debtor. Judge Martín argues this restriction may contravene European directives.

In Mendoza, Argentina, the provincial government has reported approximately 5,000 debt refinancing operations under Law 9,730, involving roughly 16 billion pesos. Authorities continue to monitor responses from major banks and non-banking firms like Mercado Pago and Naranja X.

## Timeline

### 2026-11-09: Spanish judge seeks EU clarification on Second Chance Law debt relief

An Alicante judge has asked the Court of Justice of the European Union to clarify if Spain can limit debt relief under the Second Chance Law.

2 sources. https://clstr.news/cluster/spanish-judge-seeks-eu-clarification-on-second-chance-law-debt-relief

### 2026-11-05: Repara tu Deuda Abogados facilitates debt exoneration via Second Chance Law

Repara tu Deuda Abogados has utilized Spain's Second Chance Law to exonerate significant debts for individuals in Madrid, Zaragoza, and Seville facing insolvency.

2 sources. https://clstr.news/cluster/repara-tu-deuda-abogados-facilitates-debt-exoneration-via-second-chance-law

### 2026-10-30: Second Chance Law enables debt relief for individuals in Spain

Two individuals in Spain, located in Madrid and Barcelona, have used the Second Chance Law to cancel debts totaling over 52,000 euros following personal financial crises.

2 sources. https://clstr.news/cluster/second-chance-law-enables-debt-relief-for-individuals-in-spain

### 2026-10-15: Legal assistance and insolvency laws provide debt relief in Colombia and Spain

Legal resources and laws are being utilized in Colombia and Spain to assist entrepreneurs and individuals in managing and renegotiating significant debts.

3 sources. https://clstr.news/cluster/legal-assistance-and-insolvency-laws-provide-debt-relief-in-colombia-and-spain

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Cite as: Debt relief and insolvency laws in Colombia, Spain, and AR. CLSTR, https://clstr.news/situations/debt-relief-and-insolvency-laws-in-colombia-and-spain