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Jaatinen, Pekka; Remes, Anna-Kaisa --- "FINLAND" [2019] ELECD 1203; in Kadner Graziano, Thomas; Bojars, Juris; Sajadova, Veronika (eds), "A Guide to Consumer Insolvency Proceedings in Europe" (Edward Elgar Publishing, 2019) 430

Book Title: A Guide to Consumer Insolvency Proceedings in Europe

Editor(s): Kadner Graziano, Thomas; Bojārs, Juris; Sajadova, Veronika

Publisher: Edward Elgar Publishing

Section: Chapter 12

Section Title: FINLAND

Author(s): Jaatinen, Pekka; Remes, Anna-Kaisa

Number of pages: 37

Abstract/Description:

Finnish law provides two court-sanctioned insolvency proceedings for private persons: debt adjustment and bankruptcy proceedings. The adoption of the Adjustment of Debts Act in 1993 was a turning point in helping private individuals recover from their debt problems. By September 2013, over 111,000 applications to commence debt adjustment proceedings had been filed to district courts.