{"id":1211,"date":"2026-06-30T17:08:56","date_gmt":"2026-06-30T22:08:56","guid":{"rendered":"https:\/\/www.reyesaa.com\/?p=1211"},"modified":"2026-06-30T17:08:56","modified_gmt":"2026-06-30T22:08:56","slug":"el-cartel-de-la-insolvencia-alerta-del-sector-financiero-por-el-uso-fraudulento-de-los-mecanismos-concursales-de-personas-naturales","status":"publish","type":"post","link":"https:\/\/www.reyesaa.com\/en\/el-cartel-de-la-insolvencia-alerta-del-sector-financiero-por-el-uso-fraudulento-de-los-mecanismos-concursales-de-personas-naturales\/","title":{"rendered":"THE \u201cINSOLVENCY CARTEL\u201d: THE FINANCIAL SECTOR WARNS OF THE FRAUDULENT USE OF INSOLVENCY PROCEEDINGS FOR INDIVIDUALS"},"content":{"rendered":"

Published on June 30, 2026<\/strong><\/p>\n

In April 2026, the Colombian Banking and Financial Institutions Association (Asobancaria) issued a formal warning regarding the widespread misuse of insolvency proceedings available to non-merchant individuals for the purpose of evading the payment of obligations owed to the financial system, the solidarity sector, Fintech companies, telecommunications companies, and suppliers in the real sector. This phenomenon has become known as the \u201cInsolvency Cartel.\u201d<\/p>\n

It is important to note that the insolvency regime applicable to non-merchant individuals (established under Law 2445 of 2025, together with complementary and supplementary legislation) was conceived as an equitable legal mechanism that enables individuals facing genuine financial hardship to reorganize their obligations or liquidate their assets in an orderly manner.<\/p>\n

Its legitimate use has naturally increased throughout the country. However, the most recent data reveal a remarkable surge, with applications rising from approximately 400 cases per year a decade ago to nearly 20,000 cases in 2025. It is projected that more than 30,000 proceedings will be initiated in 2026. According to Asobancaria, this exponential growth is not attributable to a generalized deterioration in Colombians\u2019 repayment capacity, but rather to the systematic manipulation of the insolvency mechanism.<\/p>\n

According to the association\u2019s complaint, the scheme operates through a three-party structure composed of attorneys advising debtors, conciliation centers with inadequate oversight, and allegedly fictitious creditors. The advisers identify individuals with legitimate outstanding debts, present the insolvency process as a solution to their financial situation, and subsequently involve them in the scheme, which includes the artificial creation of obligations in favor of fictitious third parties who appear as creditors in order to influence the voting process during debt restructuring agreements.<\/p>\n

Asobancaria\u2019s investigations have identified that some of these alleged creditors appear repeatedly in multiple proceedings and, in certain cases, are individuals deprived of their liberty whose identities are allegedly being fraudulently used.<\/p>\n

The impact of these practices extends far beyond individual cases. From a systemic perspective, the improper use of the insolvency mechanism undermines confidence in debtors, increases lending requirements, and raises financing costs for the population as a whole. Asobancaria has estimated that, with an average debt of approximately COP 30 million per proceeding, the cumulative economic impact has already reached figures approaching COP 1 trillion.<\/p>\n

Asobancaria has urged the competent authorities to strengthen oversight and supervisory mechanisms applicable to conciliation centers and has encouraged citizens to make responsible use of the legal remedies available to them.<\/p>\n

Accordingly, individuals are advised to consult with their trusted legal counsel before participating in any arrangement that, while appearing to offer a lawful solution to outstanding obligations, may ultimately result in significant criminal and financial consequences.<\/p>\n

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This bulletin is for informational purposes only and does not constitute legal advice. For specific cases, we recommend obtaining tailored legal counsel before making decisions based on the information provided herein. In compliance with personal data protection regulations, REYES ABOGADOS ASOCIADOS S.A.S. invites you to contact us if you do not wish to continue receiving our legal updates.<\/em><\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Publicado el 30 de Junio, 2026 La Asociaci\u00f3n Bancaria y de Entidades Financieras de Colombia (Asobancaria) emiti\u00f3 en abril de<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1211","post","type-post","status-publish","format-standard","hentry","category-boletin-legal"],"_links":{"self":[{"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/posts\/1211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/comments?post=1211"}],"version-history":[{"count":2,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/posts\/1211\/revisions"}],"predecessor-version":[{"id":1213,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/posts\/1211\/revisions\/1213"}],"wp:attachment":[{"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/media?parent=1211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/categories?post=1211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.reyesaa.com\/en\/wp-json\/wp\/v2\/tags?post=1211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}