bankruptcy filers. In particular, our data allow us to distinguish between Chapter 7 and Chapter 13 bankruptcy filings, to … after bankruptcy filing, most filers have much reduced access to credit in terms of credit limits, and the impact seems to …). Our results, in contrast to prior studies, thus suggest that the current bankruptcy system does not appear to provide much …

mortgages to the current market value of the property for homeowners in Chapter 7 or Chapter 13 bankruptcy. Strip-down of … mortgages in bankruptcy was proposed as a means of reducing foreclosures during the recent mortgage crisis but was blocked by … lenders. Our goal is to determine whether allowing bankruptcy judges to modify mortgages would have a large adverse impact on …

We build a structural model of Chapter 13 bankruptcy that captures salient features of personal bankruptcy under … Chapter 13. We estimate our model using a novel data set we construct from bankruptcy court dockets recorded in Delaware … 13 outcomes under the restrictions imposed by the bankruptcy law. We use the estimated model to conduct policy …

consumer bankruptcy filers. In particular, the authors’ data allow them to distinguish between Chapter 7 and Chapter 13 … bankruptcy filings, to observe changes in credit demand and credit supply explicitly, and to differentiate existing and new … credit accounts. The paper has four main findings. First, despite speedy recovery in their risk scores after bankruptcy …

Since 1980, the number of households filing for bankruptcy has more than tripled. This drastic increase in personal … bankruptcy filings led to substantial debate among economists and policymakers. That debate subsequently resulted in the … enactment of extensive reforms in 2005 when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy. …

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 …

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 …