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Race and Bankruptcy : Explaining Racial Disparities in Consumer Bankruptcy
Morrison, Edward R. - 2019
African American bankruptcy filers are more likely to select Chapter 13 than other debtors, who opt instead for Chapter 7, which has higher success rates and lower attorney fees. Prior scholarship blames racial discrimination by bankruptcy attorneys. We present an alternative explanation:...
Persistent link: https://www.econbiz.de/10012899824
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What drives racial and ethnic differences in high cost mortgages? : the role of high risk lenders
Bayer, Patrick J.; Ferreira, Fernando Vendramel; Ross, … - 2016
This paper examines racial and ethnic differences in high cost mortgage lending in seven diverse metropolitan areas from 2004-2007. Even after controlling for credit score and other key risk factors, African-American and Hispanic home buyers are 105 and 78 percent more likely to have high cost...
Persistent link: https://www.econbiz.de/10011524186
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Insolvency after the 2005 bankruptcy reform
Albanesi, Stefania; Nosal, Jaromir - 2015
, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and …. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an … that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to …
Persistent link: https://www.econbiz.de/10010505950
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Auto credit and the 2005 Bankruptcy Reform : the impact of eliminating cramdowns
Chakrabarti, Rajashri; Pattison, Nathaniel - 2016
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...
Persistent link: https://www.econbiz.de/10011547738
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Health and Financial Fragility : Evidence from Car Crashes and Consumer Bankruptcy
Morrison, Edward R. - 2013
This paper assesses the importance of adverse health shocks as triggers of bankruptcy filings. We view car crashes as a proxy for health shocks and draw on a large sample of police crash reports linked to hospital admission records and bankruptcy case files. We report two findings: (i) there is...
Persistent link: https://www.econbiz.de/10013073079
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New Consumer Bankruptcy in Poland – A New Start Not Only for the Consumer?
Wiśniewska, Dorota - 2019
issues and insolvency procedures. Obtained results indicate the need to equalize bankruptcy proceedings for all natural …
Persistent link: https://www.econbiz.de/10012889798
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Personal Bankruptcy : Reconciling Adverse Events and Strategic Filing Hypotheses Using Heterogeneity in Filing Types
Gan, Li - 2019
Personal bankruptcies have continued to rise even after passage of a comprehensive reform designed to curb strategic use of bankruptcy. We formalize a distinction between strategic filing and adverse events filing by testing whether consumers manipulate their debt and filing decision or not....
Persistent link: https://www.econbiz.de/10012894092
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Cracking the Code : An Empirical Analysis of Consumer Bankruptcy Outcomes
Greene, Sara Sternberg - 2018
Chapter 13 is a cornerstone of the bankruptcy system. Its legal requirements strike a balance between the rehabilitation of debtors through keeping assets and reducing debt, and the repayment of creditors over a period of years. Despite the accolades from policymakers, the hard truth is that the...
Persistent link: https://www.econbiz.de/10012935547
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Private Student Loans and Bankruptcy : Did Four-Year Undergraduates Benefit from the Increased Collectability of Student Loans
Ang, Xiaoling - 2018
Since 1976, Congress has progressively amended the bankruptcy laws to treat some types of student loans differently from other unsecured debt. In 2005, student loans originated by private companies — loans granted only to credit-worthy individuals and risk-priced at origination — were added...
Persistent link: https://www.econbiz.de/10012938300
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An Anatomy of U.S. Personal Bankruptcy Under Chapter 13
Eraslan, Hulya - 2017
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 that we construct from bankruptcy court dockets recorded in Delaware in 2001 and 2002. Our estimation results highlight the...
Persistent link: https://www.econbiz.de/10012970125