Personal Debt in Europe
The EU Financial Market and Consumer Insolvency

Analyses personal debt and the over-indebtedness of consumers in the European Union from the multi-disciplinary perspectives of economics, policy, and law.

Federico Ferretti (Author), Daniela Vandone (Author)

9781108445474, Cambridge University Press

Paperback / softback, published 26 May 2022

256 pages, 24 b/w illus. 6 tables
27 x 18 x 1.7 cm, 0.351 kg

Personal debt remains an important factor in many economic models because it encourages people to use debt to finance consumption. Whether this model is sustainable for individuals or the countries in which they reside is an ongoing question of great complexity and many social and economic implications, not only for the burdened individuals and their countries, but also for the EU as a whole. In Personal Debt in Europe, Federico Ferretti and Daniela Vandone examine the 'dark side' of personal debt, or over-indebtedness, in social and economic terms, and legal terms. They employ cross-country consumer-level data to present the latest empirical studies on the problem, analyse these findings to better understand its nature and causes, and discuss the merits of proposed insolvency legislation and harmonisation initiatives in the EU.

1. Introduction
2. Personal debt in the economy
3. The industry of personal debt
4. From indebtedness to over-indebtedness: multidimensional causes and consequences
5. EU policy and law for the prevention and management of over-indebtedness
6. The role and function of solvency data and financial technologies
7. Credit risk analysis and creditworthiness in relation to EU data protection legislation
8. The treatment of over-indebtedness: towards a harmonisation of personal insolvency law in a fragmented EU?
9. Conclusions and scope for further research.

Subject Areas: Banking law [LNPB], Financial law [LNP], Law [L]