We are the first to show that the cost of personal bankruptcy filers traveling to their bankruptcy trustees affects … bankruptcy choices. We use detailed balance sheet, income statement, and location data from 400,000 Canadian bankruptcies. To … bankruptcy trustees (while filers interact with trustees, and trustees interact with local government, filers do not interact …

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 …

countercyclicality of bankruptcy filings found in U.S. data? Yes, it does, but only if we explicitly model recessions as displaying … bankruptcy risk discouraging households from using credit. This finding contradicts the intuition that access to credit helps …

Bankruptcy reform in 2005 eliminated debtors’ ability to discharge private student loan debt in bankruptcy. This law … bankruptcy even if they had sufficient income to service their debt. Using a unique, nationally representative sample of … anonymized credit bureau files, we examine the bankruptcy filing and delinquency rates of private student loan borrowers in …

evaluate the 2005 bankruptcy law reform and other counterfactual reforms. The calibrated model indicates that the 2005 … bankruptcy reform achieves its goal of reducing the number of bankruptcy filings, as seen in the data, but at the cost of loss in …

bankruptcies and macroeconomic implications of the 2005 bankruptcy reform, as the standard model without temptation. However, the …. Specifically, the 2005 bankruptcy reform has an overall negative welfare effect, according to the temptation model, while the …

The state of Nevada passed legislation in 2009 that abolished deficiency judgments for purchase mortgage loans made … unique mortgage loan-level application and performance data, we find strong evidence that lenders tightened their lending … mortgages after implementation of the law. Borrowers, by contrast, did not delay their mortgage applications until after the law …

few, if any, offsetting benefits. We also provide early analysis of the new mortgage servicing rules enacted by the …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraisals are rarely … below the transaction price. We exploit a unique data set to show that the mortgage application process creates an incentive …

Supersedes Working Paper 13-27. Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth …