Tutor: Prof: Federico Cappai

Thesis abstract:

The phenomenon of over-indebtedness, now central in contemporary legal and economic debate, represents one of the most serious consequences of the growing diffusion of consumer credit, often not accompanied by adequate financial literacy.
The research work analyses the normative and social evolution that led to the legal recognition of the over-indebted civil debtor, historically excluded from insolvency proceedings, and explores the dynamics linking excessive consumer debt to economic, behavioural, and informational factors.
The role of financial institutions in credit granting is examined, with particular focus on the challenges posed by informational asymmetries, information overloading, and the influence of digital platforms and Big Data on consumer decision-making. In a context marked by the shift from a fulfilment-based paradigm to one focused on debt restructuring, special attention is given to the legal definition of over-indebtedness, the discharge procedures, and the tension between creditor protection and the reintegration of the debtor into economic and social life. Finally, the research reflects on the systemic implications of the new insolvency framework, highlighting the risk of a growing “consumerization” of contract and obligations law.