European Consumer Debt Network: A study on “The over-indebtedness of European households – updated mapping of the situation, nature and causes, effects and initiatives for alleviating its impact”

The European Consumer Debt Network (ECDN) has shared the results of a study presenting a snapshot of over-indebtedness across Member States, based on data gathered from stakeholders and consumers at a point in time (2012).

The study was conducted by Civic Consulting of the Consumer Policy Evaluation Consortium, in cooperation with the University of Bristol’s Personal Finance Research Centre.

ECDN has identified five key messages and lessons for policy makers emerging from the study:

  1. Over-indebtedness is a complex, multi-faceted, social phenomenon, caused and compounded by a combination of factors;
  2. There is a need for more timely and robust data to facilitate informed policy-making within Member States;
  3. There are real social and economic benefits to Member States associated with preventing and addressing over-indebtedness;
  4. There is a need for a multi-dimensional and integrated government policy response;
  5. The aim of policy development should be to prevent and resolve over-indebtedness, and not just to alleviate or manage it.

Full press release and study.