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Bankruptcy Reform and the Housing Crisis

Luzzetti, Matthew N. - 2015

Reforms made to the U.S. Bankruptcy Code in 2005 instituted a new means testing requirement that restricts the discharge of unsecured debt under Chapter 7 to filers with income below their state's median, thereby forcing filers with income above their state's median into a costly Chapter 13...

Persistent link: https://www.econbiz.de/10013037228

A New Deal for Debtors : Providing Procedural Justice in Consumer Bankruptcy

Foohey, Pamela - 2019

Across the criminal and civil justice systems, research regarding procedural justice — feeling that one has a voice, is respected, and is before a neutral and even-handed adjudicator — shows that people's positive perceptions of legal processes are fundamental to the legal system's...

Persistent link: https://www.econbiz.de/10012891744

The Impact of Personal Bankruptcy Law on Entrepreneurship

Jia, Ye (George) - 2010

Limited personal liability has long been thought to promote entrepreneurship by providing partial insurance through debt relief in the event of business failure. However, providing this insurance through debt relief makes borrowing more costly and tightens borrowing constraints. To examine the...

Persistent link: https://www.econbiz.de/10013136476

Debt and Insolvency

Heaton, J.B. - 2020

about the design of debt contracts. The results derive from the premise that firms must avoid legal insolvency when issuing … new debt because insolvency at issuance would trigger severe operational limitations on the issuer. I first show that … legal insolvency limits debt capacity, limiting the amount of money that a firm can raise with debt. I next show that legal …

Persistent link: https://www.econbiz.de/10012852105