Handbook of Research on International Consumer Law, Second Edition
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Handbook of Research on International Consumer Law, Second Edition

Edited by Geraint Howells, Iain Ramsay and Thomas Wilhelmsson

Consumer law and policy continues to be of great concern to both national and international regulatory bodies, and the second edition of the Handbook of Research on International Consumer Law provides an updated international and comparative analysis of the central legal and policy issues, in both developed and developing economies.
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Chapter 14: Personal insolvency

Johanna Niemi


This chapter examines the development of personal insolvency law from the perspective of the consumer debtors who may become over-indebted either in their private economy or as small entrepreneurs. It is now generally acknowledged that a debt adjustment procedure (consumer bankruptcy) is needed to alleviate the overwhelming debt burden in the credit societies. However, the approach varies in national laws, with some countries allowing a more liberal discharge and others putting stringent condition on the debtors. This chapter present different theoretical views on debt relief. It also discusses central issues in debt adjustment procedures, such as access to relief, inclusion of assets and debts, counselling to debtors and payment plans.

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