27 research outputs found
Consumer Bankruptcy in Europe Different Paths for Debtors and Creditors
The economic crisis has fuelled the debate on regulated state insolvencies. And while debt relief is
being considered for nations, in some European countries consumers live their whole lives in debt as
there is no consumer bankruptcy process which provides for an exemption from residual debt.
There are thus no uniform regulations on how private individuals can make a clean financial start in
Europe and debtors and creditors have different roads to take. The standard moral debate on consumer
bankruptcy proceedings ranges between two extremes, i.e. from attaching individual blame for debt to
expropriation of creditors