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The competition of individuals

The economic crisis is a reality that hits home more and more and more and more strength. It requires that citizens use the tools that are provided to overcome situations of crisis and one of them is the competition.

erroneously tend to think that the contest is only applicable to legal persons, when in fact it certainly is applicable and recommended for individuals when given the circumstances.

Indeed, the contest allows write-offs, debt workouts, payment agreements etc. all well-structured and implemented which results in overcoming the situation by the bankrupt.
Nevertheless, in practice very few cases of individuals competitions and this is mainly due to two things: 1) ignorance on the part of the general population of this instrument, and 2) The general lack of professional advice in Spain.

Spain is the largest number of SMEs per capita and is at the same time, the country with poor profitability and their competitiveness. This is due to the lack of professional advice and the general belief that erroneous advice is an expense and not an investment as opposed to what happens in most developed countries in the world.

For the contest is successful, it needs to be well structured and pursuing a clear strategy and predefined, so that creditors rely on the debtor and its plans to overcome their situation because otherwise the competition will fail and lead to the liquidation of the debtor's assets.

So the competition is a feasible and very interesting for individuals but requires the right advice to be successful.