General aspects of the insolvency law of a non-trading person

Abstract

In the development of this article, an analysis of the general aspects of the insolvency law of a non-commercial natural person is established, promulgated in the Nation in order to provide protection to natural persons who are in debt, which, explains the procedure adjusted to the debtors or insolvent people who do not carry out commercial activities and who find it impossible to pay off their debts, since their wages are not enough to cover the corresponding payments, for this purpose, a consultation of articles 531 was made to the 576 of the General Process Code and Law 1564 of the year 2012, extracting the essential elements in order to fulfill the general objective of this investigation, which focuses on interpreting the benefits that are granted to natural persons not insolvent merchants to change the monetary status in which they are, as a result of the overindebtedness generated by the different s lenders. The present study was carried out under a descriptive type of investigation with documentary design and it is concluded that the law empowers any person, even if they do not carry out commercial activities, have the opportunity to establish an agreement and continue to have access to loans at interest to recover from an economic crisis.