That's fine, but then you shouldn't make blanket statements about the whole of the EU, simply state the countries you know this about rather than to extrapolate falsely.
that they have the legislation doesn’t matter. the question is whether you can file and get rid of all debt, and recover fully within a reasonable timeframe of a few years.
I don‘t think that is the case across the board. I‘ve certainly heard of Privatinsolvenz. But you might not be able to claim this for business related debts (which should be covered by your limited liability cooperation in theory)?
That’s categorically not true. For example, in the UK you can file for bankruptcy[1] and in Sweden you can apply through Kronofogden to have personal debts cancelled after a supervised three year period.
Slight correction, In Sweden you can apply for "debt-sanitation" from Kronofogden, it requires you to pay all earned money above an level called "existential minimum" for _5_ years (ie you'll live as a really "poor person").
After that point in time all the old debts are cleared off (although you might still be stuck with bad credit scores).
Not technically, but that's no surprise since the legal systems are different. In practice though it serves the same purpose of making individuals debt free (even if it forces one to go through dog years).
Iirc Bankruptcy is technically reserved for companies and other legal entities, and always either ends in reconstitution or liquidation depending on if a court appointed lawyer finds that there are funds, income or other means to continue operating, or if liquidation is the only way that creditors will receive anything back.