This paper estimates the effect of Chapter 13 bankruptcy protection on post-filing financial outcomes using a new … dataset linking bankruptcy filings to credit bureau records. Our empirical strategy uses the leniency of randomly …

the effects of the reform on bankruptcy, insolvency, and foreclosure, we explore the mechanism generating these responses … higher monetary cost of filing for bankruptcy. We show that insolvency is associated with worse outcomes than bankruptcy, in …The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) is the most important reform of personal …

This paper argues that the debt forgiveness provided by the U.S. consumer bankruptcy system helped stabilize employment … levels during the Great Recession. We document that over this period, states with more generous bankruptcy exemptions had …-post debt forgiveness provided by the consumer bankruptcy system during the Great Recession increased aggregate employment by …

Bankruptcy is the legal process by which the debts of firms, individuals, and occasionally governments in financial … distress are resolved. Bankruptcy law always includes three components. First, it provides a collective framework for … how the assets and earnings used to repay are divided among creditors. Third, bankruptcy law specifies punishments …

This paper estimates the extent to which legal fees prevent liquidity-constrained households from declaring bankruptcy …. To do so, it studies how the 2001 and 2008 tax rebates affected consumer bankruptcy filings. We exploit the randomized …-collected data from individual bankruptcy petitions, we document that the rebates caused an increase in the average liabilities and …

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 …

decision variables, such as financial benefit from filing for bankruptcy, or debt discharged in bankruptcy are endogenous with … the bankruptcy decision or not. For the strategic timing theory such decisions are endogenous, while for the adverse … are exogenous with the bankruptcy decision, consistent with the adverse events theory …

This paper uses a new panel data set of credit card accounts to analyze credit card delinquency, personal bankruptcy …