Because of the recent surge in U.S. personal defaults, Congress is currently debating bankruptcy reform legislation … previous work, bankruptcy options and production are explicitly taken into account. The authors' findings indicate that means … testing would not improve upon current bankruptcy provisions and, at best, leaves aggregate filings, output, and welfare …

Banks and credit card companies lobbied Congress for several years to amend the Bankruptcy Code because of an … increasing number of bankruptcy filings1 and evidence that debtors were abusing the existing code. On April 20, 2005, President … Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act into law. The act makes the most sweeping changes …

consumer bankruptcy and its effect on unsecured lenders. Professor Melissa Jacoby of Temple University’s School of Law led the … workshop. A leading bankruptcy scholar, Jacoby described the current bankruptcy system and the potential impact of Chapter 7 … offers a brief overview of consumer bankruptcy and the rights of unsecured creditors that lend money to individuals who …

By compiling a novel data set from bankruptcy court dockets recorded in Delaware between 2001 and 2002, the authors … build and estimate a structural model of Chapter 13 bankruptcy. This allows them to quantify how key debtor characteristics …, including whether they are experiencing bankruptcy for the first time, their past-due secured debt at the time of filing, and …

practice. We show that our model has implications for the debate on the effect of personal bankruptcy exemptions on secured …

's claimants to seek to subordinate an informed investor's financial claim in bankruptcy court. Fear of equitable subordination is …

The key feature of the modern U.S. personal bankruptcy law is to provide debtors a financial fresh start through debt …. In this paper, we test this fresh start argument by providing the first estimate of the effect of personal bankruptcy … the endogenous self-selection of bankruptcy filing and allows for dependence over time for the same household. We find …

This paper provides the first in-depth analysis of the homeownership experience of households in bankruptcy. The … time between bankruptcy filing and foreclosure sale, and the foreclosure sale price. In particular, they follow homeowners … who filed for chapter 13 bankruptcy between 2001 and 2002 in New Castle County, Delaware, through October 2007. They …

This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the … current recession. When debtors file for bankruptcy, credit card debt and other types of debt are discharged - thus loosening … debtors' budget constraints. Homeowners in financial distress can therefore use bankruptcy to avoid losing their homes, since …