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Thursday, December 1, 2022

What is the debt restructuring project for individuals about?

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The project has 25 items that describe who can protect themselves under the law, and their respective process. In the event of becoming law, the liability restructuring procedure must be preceded by a conciliatory procedure before Consumer Defensewhich is of character requiredin which the debtor will declare income and present a list of creditors and amounts.

Creditors, for their part, must inform if there are judicial processes initiated previously. If this conciliatory instance fails, it goes to the judicial way. Thus, if all conciliation channels fail, the judge will present the creditor with different ways to cancel the liability after an economic-financial analysis of the debtor.

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After this first approval, it will be voted on in plenary next week, and later in deputies, where speed is expected. After emerging from Town meeting, the original project had some modifications. The Multicolor Coalition gave the go-ahead for its approval, while the wide front requested some time to analyze his position before it after suggesting some changes, such as the senator’s proposal Charles Carrera (FA) to incorporate two articles on interest and salary receipts, and the claim of the FA on one that modifies the minimum percentage (intangible) that a worker must receive from his salary, from the current 35% until the fifty%.

the leader of Town meetingthe senator Guido Manini Riostweeted that this is “justice with thousands of Uruguayans, debtors in good faith, victims of legalized usury by moneylenders“. For his part, the also senator from AC, William Domenech proposed the incorporation of article 13 to the final project, contemplating one of the proposals of the FA about the faulty action of the creditor in case the causes warrant it, such as not informing the debtor of the amount of the credit to be paid or when the effective interest rate is not indicated.

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Source: Ambito

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