The debts have accumulated, creditors have multiplied, and there is no longer any way to pay everything owed. Is there a way, under Portuguese law, to make a fresh start?
There is, and it is known as the discharge of remaining debts (exoneração do passivo restante). It is one of the lesser-known mechanisms under Portuguese insolvency law and, at the same time, one of the most relevant for individuals facing a situation of over-indebtedness with no realistic prospect of resolving it through other means.
Photo from Pexels