Objectives:
The research goal of the article is to analyze the financial spiral in legal and dogmatic terms.The subject of the research are the reasons and more precisely the effects of the financial spiral. In this context, the legal status of the financial spiral is diagnosed in combination with the subjective factors of the potential borrower.

Material and methods:
the legal-dogmatic method, analysis and synthesis were used.

Results:
The discussed problem of the financial spiral is a growing threat to social security and at the same time to the financial security of the country. The problem of the non-banking sector activity and the standards of providing financial services remains unresolved. Consumer bankruptcy is one of the final solutions - the reduction or cancellation of obligations of a natural person not conducting business activity in the event of a state of non-performing insolvency was introduced on March 31, 2009 into Polish bankruptcy and reorganization law

Conclusions:
Applications de lege ferenda and de lege years applications. Summing up, it can be concluded that the discussed issues regarding the application of the Consumer Credit Act are significantly circumvented. The presented examples of gaps and practical interpretations on the basis of current regulations are unacceptable in a modern legal state.