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Author: Tal Gross
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 67
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Book Description
A more generous consumer bankruptcy system provides greater insurance against financial risks, but it may also raise the cost of credit to consumers. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which raised the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs by exploiting variation in the effects of the reform on bankruptcy risk across credit-score segments. Using a combination of administrative records, credit reports, and proprietary market-research data, we find that the reform reduced bankruptcy filings, and reduced the likelihood that an uninsured hospitalization received bankruptcy relief by 70 percent. BAPCPA led to a decrease in credit card interest rates, with an implied pass-through rate of 60-75 percent. Overall, BAPCPA decreased the gap in offered interest rates between prime and subprime consumers by roughly 10 percent.
Author: Tal Gross
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 67
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Book Description
A more generous consumer bankruptcy system provides greater insurance against financial risks, but it may also raise the cost of credit to consumers. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which raised the costs of filing for bankruptcy. We identify the effects of BAPCPA on borrowing costs by exploiting variation in the effects of the reform on bankruptcy risk across credit-score segments. Using a combination of administrative records, credit reports, and proprietary market-research data, we find that the reform reduced bankruptcy filings, and reduced the likelihood that an uninsured hospitalization received bankruptcy relief by 70 percent. BAPCPA led to a decrease in credit card interest rates, with an implied pass-through rate of 60-75 percent. Overall, BAPCPA decreased the gap in offered interest rates between prime and subprime consumers by roughly 10 percent.
Author: Philippe Aghion
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 78
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Book Description
We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Author: Kenneth E. Scott
Publisher: Hoover Institution Press
ISBN: 9780817918842
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
"Working Group on Economic Policy"--Page opposite title page.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 206
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Book Description
Author: Mary Eschelbach Hansen
Publisher: University of Chicago Press
ISBN: 022667973X
Category : Business & Economics
Languages : en
Pages : 237
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Book Description
In 2005, more than two million Americans—six out of every 1,000 people—filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the relief of financially distressed households. In Bankrupt in America, Mary and Brad Hansen offer a vital perspective on the history of bankruptcy in America, beginning with the first lasting federal bankruptcy law enacted in 1898. Interweaving careful legal history and rigorous economic analysis, Bankrupt in America is the first work to trace how bankruptcy was transformed from an intermittently used constitutional provision, to an indispensable tool for business, to a central element of the social safety net for ordinary Americans. To do this, the authors track federal bankruptcy law, as well as related state and federal laws, examining the interaction between changes in the laws and changes in how people in each state used the bankruptcy law. In this thorough investigation, Hansen and Hansen reach novel conclusions about the causes and consequences of bankruptcy, adding nuance to the discussion of the relationship between bankruptcy rates and economic performance.
Author: John Hampton Moore
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 206
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Book Description
Author: Ian Domowitz
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 74
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Book Description
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 112
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Book Description
Author: Todd J. Zywicki
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 0
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Book Description
Author: Jocelyn Martel
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 18
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Book Description
