ITALIAN LAW ON OVERINDEBTEDNESS

The phenomenon of overindebtedness is a social problem. Hence the question about the advisability or not of a legislative intervention in the relationship between creditor and debtor if the debtor is in a situation of extreme economic difficulties. There is a potential conflict between the legal rule that the obligation is due, and the value of a social safety net for those who have bad calculated risks or suffer the consequences of an unfortunate change in circumstances. The issue of civil insolvency debtor has been taken into account by the parlamient with the law n. 3 of 2012, which provides for three forms of solution of the crisis: the debtor agreement with creditors (art. 7, c.1), the payment schedule for the consumer (Art. 7, c. 1a) and - alternatively or, some specific cases, as a result of the previous two procedures - the liquidation of assets (art. 14b).