Are We Overindebted?

Rosa-Maria Gelpi and François Julien-Labruyère
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Rosa-Maria Gelpi: Cetelem Professor of Economics Université Libre de Lille
François Julien-Labruyère: International CEO, member of the Board of Cetelem

Chapter 10 in The History of Consumer Credit: Doctrines and Practices, 2000, pp 151-168 from Palgrave Macmillan

Abstract: Abstract In the course of the twentieth century consumer credit has been progressively emancipated from the ideologies and beliefs which, over the millennia, placed a stigma on borrowing at interest. Attitudes have changed and credit has become part of everyday life. It may be seen to foster growth and promote social integration, both of which, in return, give credit ability to the sector. However, this relatively privileged status is now at risk, as a new cloud began to cast its shadow over credit at the end of the 1980s: overindebtedness. The effects of overindebtedness may be twofold: economic and social. Some perceive consumer credit as having pernicious consequences within the economy, and on private individuals, who are its main victims.

Keywords: Interest Rate; Mortgage Loan; Credit Institution; Consumer Credit; Home Equity (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-55451-1_10

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DOI: 10.1057/9780230554511_10

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