Author: Robert Dolphin
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 404
Book Description
An Analysis of Economic and Personal Factors Leading to Consumer Bankruptcy
An analysis of economic and personal factors leading to consumer bankruptcy
Author: Robert Dolphin
Publisher:
ISBN:
Category :
Languages : en
Pages : 154
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 154
Book Description
An Economic Analysis of the Consumer Bankruptcy Crisis
Author: Todd J. Zywicki
Publisher:
ISBN:
Category :
Languages : en
Pages : 81
Book Description
Since the inception of the first permanent American bankruptcy law in 1898, the intellectual and political understanding of consumer bankruptcy has been anchored in a model that views bankruptcies as resulting from household financial distress. For much of the Twentieth Century, this traditional model provided a plausible explanation of bankruptcy filing patterns and clear normative policy implications. Moreover, the widespread intellectual and social consensus on the traditional model was reflected in the enactment of the current Bankruptcy Code in 1978, which rests on the intellectual foundation of the traditional model. To this day, leading bankruptcy scholars adhere to the traditional model and its implications. Over the past twenty-five years, however, the traditional model has broken down. During a period of unprecedented prosperity and economic stability, personal bankruptcies have soared, raising fundamental questions about the validity of the traditional model.This article argues that there has been an unacknowledged sea-change in the economics of consumer bankruptcy in America. This article first provides a scientific analysis of the traditional model to determine whether these new trends can be accommodated within the traditional model. It focuses on the key variables offered by the traditional model as components of household financial distress: first, high levels of household indebtedness, including the influences of credit cards and home mortgages; second, unemployment and downsizing; third, divorce; and fourth, health problems, health care costs, and lack of health insurance. A scientific analysis of the evidence demonstrates that although these factors can explain part of the background exogenous level of bankruptcies, as well as some regional variation in bankruptcy filing rates, they cannot explain the upward trend in bankruptcy filing rates over the past twenty-five years. The article then briefly discusses an alternative model of consumer bankruptcy that can explain the increased propensity for consumers to file bankruptcy through an examination of the legal, social, and economic institutions of the consumer bankruptcy system.
Publisher:
ISBN:
Category :
Languages : en
Pages : 81
Book Description
Since the inception of the first permanent American bankruptcy law in 1898, the intellectual and political understanding of consumer bankruptcy has been anchored in a model that views bankruptcies as resulting from household financial distress. For much of the Twentieth Century, this traditional model provided a plausible explanation of bankruptcy filing patterns and clear normative policy implications. Moreover, the widespread intellectual and social consensus on the traditional model was reflected in the enactment of the current Bankruptcy Code in 1978, which rests on the intellectual foundation of the traditional model. To this day, leading bankruptcy scholars adhere to the traditional model and its implications. Over the past twenty-five years, however, the traditional model has broken down. During a period of unprecedented prosperity and economic stability, personal bankruptcies have soared, raising fundamental questions about the validity of the traditional model.This article argues that there has been an unacknowledged sea-change in the economics of consumer bankruptcy in America. This article first provides a scientific analysis of the traditional model to determine whether these new trends can be accommodated within the traditional model. It focuses on the key variables offered by the traditional model as components of household financial distress: first, high levels of household indebtedness, including the influences of credit cards and home mortgages; second, unemployment and downsizing; third, divorce; and fourth, health problems, health care costs, and lack of health insurance. A scientific analysis of the evidence demonstrates that although these factors can explain part of the background exogenous level of bankruptcies, as well as some regional variation in bankruptcy filing rates, they cannot explain the upward trend in bankruptcy filing rates over the past twenty-five years. The article then briefly discusses an alternative model of consumer bankruptcy that can explain the increased propensity for consumers to file bankruptcy through an examination of the legal, social, and economic institutions of the consumer bankruptcy system.
Economic Factors Associated with Personal Bankruptcy
Author: A. Charlene Sullivan
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 56
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 56
Book Description
Bankruptcy Act Revision
Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Civil and Constitutional Rights
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 632
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 632
Book Description
Personal Bankruptcy
Author: United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 1088
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 1088
Book Description
Consumer Bankruptcy Study: Personal bankruptcy : causes, costs and benefits
Author:
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 204
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 204
Book Description
Bankruptcy Act Revision
Author: United States
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 630
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 630
Book Description
Personal Bankruptcy Law
Author: Eva-Maria Steiger
Publisher: Deutscher Universitätsverlag
ISBN: 9783824483440
Category : Business & Economics
Languages : en
Pages : 117
Book Description
Eva-Maria Steiger classifies the mechanisms triggered by U.S. and European consumer bankruptcy regulations and tests them within a hidden action model. She identifies an influence on consumer effort choice at two dates - prior to distress and post filing -, appraises the capacity of the regulations to implement the efficient choice at both dates, and proposes a regulation to mitigate the identified distortions.
Publisher: Deutscher Universitätsverlag
ISBN: 9783824483440
Category : Business & Economics
Languages : en
Pages : 117
Book Description
Eva-Maria Steiger classifies the mechanisms triggered by U.S. and European consumer bankruptcy regulations and tests them within a hidden action model. She identifies an influence on consumer effort choice at two dates - prior to distress and post filing -, appraises the capacity of the regulations to implement the efficient choice at both dates, and proposes a regulation to mitigate the identified distortions.
Report of the Commission on the Bankruptcy Laws of the United States: Report of the Commission ... pt.3. Some considerations concerning bankruptcy reform, by Selwyn Enzer
Author: Commission on the Bankruptcy Laws of the United States
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 342
Book Description
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 342
Book Description