Consumer financial services and negotiation: how is Portugal dealing with indebted consumers?

Conceição, Ana Filipa; Cebola, Cátia Marques

http://hdl.handle.net/10400.8/3338

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Authors

Conceição, Ana Filipa

Cebola, Cátia Marques

Abstract(s)

The economic crisis of the early twenty-first century has reinforced the need for consumer protection mechanisms at the level of financial services. The main measures adopted in Portugal in this context are set out in Decree-Law No 227/ 2012 of 25 October. In this paper we will analyse the instruments introduced, namely the PARI (Action Plan for Breaching of Contract Risks), the PERSI (Extrajudicial Procedure for Breach of Financial Contracts), the RACE (Support Network for Indebted Consumers) and the Credit Mediator, in order to assess their main advantages and disadvantages.