Surrender in lieu of payment vs. The debt discharge mechanism

Abstract

The financial crisis that has suffered the Spanish mortgage market, has resulted in numerous foreclosures, due among other factors to the irresponsible granting of loans by financial institutions. Given this delicate social and economic situation affecting much of the Spanish population, legilador has seen the need to regulate these situations by Real Decreto-ley 6/2012 de Medidas Urgentes de Protección de Deudores Hipotecarios sin Recursos, (of Urgent Measures for Protection of Debtors without Resources), which we analyze at this work seeing that, in general terms, partially only responds to the situation in which the country was. Because of this, the Ley 25/2015, de 28 de julio, de Mecanismo de Segunda Oportunidad, Reducción de la Carga Financiera y Otras Medidas de Orden Social, (the debt discharge mechanism, reduced financial burden and Other Measures Social Order) was approved, which provides a new solution, which probably is more successful and effective for the debtor.