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The book shows that self-help in commercial law is a fast, inexpensive and efficient alternative to court enforcement. Self-help remedies and private debt collection are largely but not exclusively features of common law jurisdictions, since remnants of private enforcement can still be found in contract law in civilian systems. The book argues that - despite their usefulness - self-help and private debt collection entail significant risks, especially for consumer debtors. This means that private enforcement needs to be accompanied by the introduction of tailor-made consumer-debtor protection regulation. Specific attention is given to factoring, which functions in many instances as a form of pseudo-private debt collection and which has been exploited to bypass sector-specific consumer protection regulations.
List of contents
1. Introduction.- 2. General Background and History of Self-Help and Private Enforcement.- 3. Self-Help and Contract Law.- 4. Active Self-Help: Self-Help Repossession, Administrative Receivership, Private Disposition of Collateral and Strict Foreclosure.- 5. Factoring, Bad Debt and Collection Agencies.- 6. Abusive Debt Collection Practices and the Building Blocks of an Efficient Debt Collection Regime.- 7. Remedies Against Abusive Practices and Calls for Reform.- 8. Conclusions.
Summary
The book shows that self-help in commercial law is a fast, inexpensive and efficient alternative to court enforcement. Self-help remedies and private debt collection are largely but not exclusively features of common law jurisdictions, since remnants of private enforcement can still be found in contract law in civilian systems. The book argues that – despite their usefulness – self-help and private debt collection entail significant risks, especially for consumer debtors. This means that private enforcement needs to be accompanied by the introduction of tailor-made consumer-debtor protection regulation. Specific attention is given to factoring, which functions in many instances as a form of pseudo-private debt collection and which has been exploited to bypass sector-specific consumer protection regulations.
