Second opportunity

The process consists of three phases:

1 Extrajudicial Phase (AEP): called Extrajudicial Payment Agreement. It is a procedure that is processed to reach an agreement with creditors, as it allows you to make reductions up to 99% of the debt and deferrals/waits of up to 10 years WITHOUT INTEREST.

2 What happens if the AEP is not approved? We would move on to the judicial phase, called Consecutive Competition. In this procedure, the debtor's assets (if any) would be liquidated and once said liquidation was completed, we would move on to the third phase.

3 Called BEPI, that is, Benefit of Exoneration of Unsatisfied Liabilities. Translated into vulgar terms, forgiveness of debts. If, on the contrary, the debtor did not have assets at this stage, there would be no liquidation, so the procedure would be opened and closed simultaneously and then forgiveness of the debts would be requested and granted.

Normally, if a debtor has assets and a minimum means of payment, it may be in their interest to reach a payment agreement in order to preserve their assets. Obviously a reduction and a postponement would have to be applied to attract creditors to accept the agreement. If, on the contrary, there were no assets, the extrajudicial payment agreement would be a way to achieve debt forgiveness.

The normal thing is that you will have many doubts about whether this process is convenient or not in your case. We will study your case without any commitment and will draw up the strategy that best suits your situation.