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Consumer debt The consumer indebtedness is a great dynamic factor in any economy. Consumer consumption is required for both economic stability and growth. Governments encourage consumer consumption by facilitating and expanding consumer credit. Solving consumer debt problems can be complex. They are often caused by socio-psychological factors such as redundancy, divorce, disability, addiction. These have serious impact on quality of life of debtor.
Consumer debtor A debtor whose liabilities are incurred primarily for private, family or household purposes and not as a result of carrying business, either on own account or in Partnership or from guarantees. From the perspective of consumer debtor however, what matters is their personal liability for debts which may be caused by private or commercial reasons. Essentially, it is about natural persons.
Page 1: MENA Judicial &Financial Colloquium
Page 5 and 6: 1. Fair and equitable allocation of
Page 7 and 8: Separate proceedings for debtors wh
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