A large literature has examined factors leading to filing for personal bankruptcy, but little is known about household … borrowing after bankruptcy. Using data from the Survey of Consumer Finances, we find that relative to comparable nonfilers …, bankruptcy filers generally have more limited access to unsecured credit but borrow more secured debt post bankruptcy, and they …

thereafter. This, and similar results using the likelihood of reentering bankruptcy, suggest that there may be an optimal time in … results have implications for the reform and design of bankruptcy systems. …

In this paper, I construct a model of an exchange economy in which bankruptcy arises in a manner similar to what we … highlight some welfare effects of bankruptcy. …

. The bankruptcy code is a "primitive creditor system" and financial distress leads to an arbitration between private … agreement and costly formal bankruptcy. We consider a standard debt contract between a bank and a small firm, both risk … show that costly formal bankruptcies may occur at equilibrium and the internalization of bankruptcy costs is impossible …

The aim of this paper is to provide new evidence on the value-creation process taking place in bankruptcy procedures … extent the debtor’s value can be preserved under bankruptcy by analyzing the recovery rates in France, Germany, and the … United Kingdom. We use a unique European sample of 900 corporate bankruptcy files that were manually collected in commercial …

This paper demonstrates the important role of job displacement in the household bankruptcy decision. I develop a … dynamic, forward-looking model of unemployment and bankruptcy where persistent negative income shocks increase a household …'s likelihood of filing for bankruptcy both immediately and in the future. Consistent with the model's predictions, I find that …

bankruptcy procedure is triggered off. This arbitration depends on the legal context and, more specifically, on the national … bankruptcy code. No study has been done on the French Civil Law. Yet, this legal system has inspired other important legislations … inclination for liquidation, collaterals may increase the occurrence of bankruptcy, provided the law facilitates such liquidation …

Are consumers who have filed for personal bankruptcy before excluded from the unsecured credit market? Using a unique … default risk--those with a bankruptcy history. On average, over one-fifth of personal bankruptcy filers receive at least one … offer in a given month, with the likelihood being even higher for those who filed for bankruptcy within the previous two …

Consumer bankruptcy laws, which vary across states and over time, permit debtors to keep assets below a statutory … debts, but they also provide a crude form of consumption insurance. We combine information on state-level bankruptcy laws … bankruptcy rates, (2) households that are more likely to simultaneously hold low-return liquid assets and owe high-cost unsecured …

The recent explosion in personal bankruptcy filings has motivated research into whether credit markets are being … bankruptcy exemptions across states. We note that the literature has focused on aggregate household credit, making no distinction …