Abstract

http://ssrn.com/abstract=452620
 
 

Citations (3)



 
 

Footnotes (310)



 


 



The Innovative German Approach to Consumer Debt Relief: Revolutionary Changes in German Law, and Surprising Lessons for the U.S.


Jason J. Kilborn


The John Marshall Law School; Radboud University Nijmegen


Northwestern Journal of International Law & Business, Vol. 24, p. 257

Abstract:     
To add another enlightening dimension to current U.S. consumer bankruptcy reform debate, this Article describes the consumer provisions of the new German Insolvency Act. It reports on Germany's rising consumer debt problem and the various ways in which German debtor-creditor law failed to address this increasing problem before 1999. It then examines the consumer provisions of the new German Insolvency Act, in force since January 1999 and significantly amended in December 2001. It reveals critical distinctions between the theory of consumer insolvency, as described in German law and legal literature, and the reality of consumer insolvency in practice as it has developed in the nearly five years since the law went into effect. From this examination, this Article extracts several lessons for U.S. law reformers battling with provisions quite similar to those implemented in the new German law. As it turns out, the German and U.S. consumer debt relief systems produce largely the same economic results. Important distinctions between the German and U.S. economic and social systems suggest, however, that the German approach - and the amendments currently under consideration in the U.S. Congress - would not lead to success in the U.S. At the same time, the German system focuses on achieving important societal goals that U.S. law neglects, which might be incorporated into U.S. law through more careful reform of U.S. debtor-creditor law.

Number of Pages in PDF File: 46

Keywords: Consumer bankruptcy, consumer insolvency, consumer debt, overindebtedness, German legislative process

Accepted Paper Series


Download This Paper

Date posted: November 11, 2003  

Suggested Citation

Kilborn, Jason J., The Innovative German Approach to Consumer Debt Relief: Revolutionary Changes in German Law, and Surprising Lessons for the U.S.. Northwestern Journal of International Law & Business, Vol. 24, p. 257. Available at SSRN: http://ssrn.com/abstract=452620 or http://dx.doi.org/10.2139/ssrn.452620

Contact Information

Jason J. Kilborn (Contact Author)
The John Marshall Law School ( email )
315 South Plymouth Court
Chicago, IL 60604
United States
Radboud University Nijmegen ( email )
Nijmegen, 6500 HK
Netherlands
Feedback to SSRN


Paper statistics
Abstract Views: 3,258
Downloads: 501
Download Rank: 28,943
Citations:  3
Footnotes:  310

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 0.531 seconds