, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and … and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the … Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter …

Auto lenders were perhaps the biggest winners of the 2005 Bankruptcy Reform. Cars depreciate quickly, so borrowers … often owe more than their car is worth. Prior to the Reform, these borrowers could reduce the principal on their auto loan … to the market value of the car through a "cramdown" in Chapter 13 bankruptcy. The Reform prohibited cramdowns during the …

, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and … and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the … Bankruptcy Reform Act of 1978. The 2005 legislation introduced a means test based on income to establish eligibility for Chapter …

We argue that the 2005 bankruptcy abuse reform (BAR) contributed to the surge in subprime foreclosures that followed … BAR, so they would be less affected by the reform. Difference-in-difference regressions confirm four predictions implied …

This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been …-exemption states were not very protected before BAR, so they were less likely to be affected by the reform. The authors estimate that … average before the reform; given the number of subprime mortgages in the United States, that figure translates into 29 …

Bankruptcy reform in 2005 eliminated debtors' ability to discharge private student loan debt in bankruptcy. This law … response to the 2005 bankruptcy reform. We do not find evidence that the nondischargeability provision reduced the likelihood …

mortgage and unsecured credit markets to assess the impact of this reform on the severity of the housing crisis during the … Great Recession. We find that while this reform increased the relative attractiveness of mortgage default, its impact on the …

This article presents arguments and evidence suggesting that the bankruptcy abuse reform (BAR) of 2005 may have been …-exemption states were not very protected before BAR, so they were less likely to be affected by the reform. The authors estimate that … average before the reform; given the number of subprime mortgages in the United States, that figure translates into 29 …