Personal Bankruptcies: Trends and Characteristics
Author | : George Allen Brunner |
Publisher | : |
Total Pages | : 154 |
Release | : 1965 |
Genre | : Bankruptcy |
ISBN | : |
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Author | : George Allen Brunner |
Publisher | : |
Total Pages | : 154 |
Release | : 1965 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Steven D. Gregerson |
Publisher | : |
Total Pages | : 198 |
Release | : 1980 |
Genre | : Bankruptcy |
ISBN | : |
Author | : George Allen Brunner |
Publisher | : |
Total Pages | : 152 |
Release | : 1965 |
Genre | : |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 666 |
Release | : 2006 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Shirley Suzanne Matsen |
Publisher | : |
Total Pages | : 278 |
Release | : 1967 |
Genre | : Bankruptcy |
ISBN | : |
Concern regarding the large numbers of personal bankruptcies in Oregon prompted this study. Although information was available from a few studies in other parts of the United States, none was available for Oregon. Very little data has been collected on personal and family characteristics of people filing bankruptcy and less has been collected through personal interviews with the petitioners. The two major objectives of this study were (1) to obtain data about certain personal and family characteristics of a sample of Oregon personal bankruptcy petitioners through the use of an interview questionnaire and to attempt to determine if they were related to financial characteristics obtained from official bankruptcy petitions and (2) to compare selected socioeconomic characteristics of the sample with Oregon and United States general population characteristics. An interview questionnaire was administered to 50 personal bankruptcy petitioners immediately following the first creditor hearing for each case in the bankruptcy court in Portland, Oregon in February 1966. Other data were secured from the bankruptcy petitions. The study required cooperation of the Federal Referees in Bankruptcy, attorneys handling each case and the petitioners themselves. Personal and family information obtained from the petitioner questionnaire included: sex; age class; occupation classification; employment status; marital status; length of time married; length of time divorced or separated; number of times petitioner had married; age class of spouse; family size; number of children; stage in family life cycle; employment status of spouse; bankruptcy history; petitioner and spouse education; social class; incidence of threatened and/or actual garnishment; number and type of solutions to financial problems sought before petitioning for bankruptcy; period of highest debt level; reason for highest debt level; number and type of primary reasons for filing bankruptcy petition; type of area in which petitioner lived during first 14 years of life; degree of expressed marital happiness; degree of influence of financial problems on marital happiness; responsibility for bill payment; and degree of expressed husband-wife agreement regarding expenditures. Financial information obtained from bankruptcy petitions filed with the court included income for last available year, total amount of debt, amount and percentage of secured, unsecured and assigned debt and number and percentage of secured, unsecured and assigned creditors. Debts were classified into 23 creditor classifications according to purpose of the debt. Statistical description included frequency distributions, ranges, means and medians. A t-test of significance was run for petitioner characteristics with mean debt and mean income. A multiple correlation using age class, family size, stage in family life cycle, mean income and mean debt was calculated. Results of the study indicated a significant correlation (P = .01) between mean debt and mean income. Among other findings are the following median personal, family and financial characteristics of the petitioners: male, 28 years old, married, two children, child bearing stage of family life cycle, twelfth grade education, semiskilled employee, income for last available year of $4,950 and total debt of $4,831 owed 16.5 creditors. Over 75 percent of the petitioners owed medical and automobile expenses. Findings regarding degree of expressed marital happiness, degree of influence of financial problems on marital happiness and degree of expressed husband-wife agreement regarding expenditures, although not conclusive, suggest trends which indicate the need for further research. Care must be taken not to generalize from the results since reliability and validity have not been established. Suggestions for further research regarding bankruptcy include expansion of interview technique and total sample size, study of financial management practices of bankrupts following bankruptcy release, study of creditor orientation to bankruptcy, a longitudinal study of family structure and personal traits as they relate to financial management.
Author | : Stijn Claessens |
Publisher | : World Bank Publications |
Total Pages | : 40 |
Release | : 2002 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Katherine Porter |
Publisher | : Stanford University Press |
Total Pages | : 322 |
Release | : 2012-01-11 |
Genre | : Social Science |
ISBN | : 0804780587 |
About 1.5 million households filed bankruptcy in the last year, making bankruptcy as common as college graduation and divorce. The recession has pushed more and more families into financial collapse—with unemployment, declines in retirement wealth, and falling house values destabilizing the American middle class. Broke explores the consequences of this unprecedented growth in consumer debt and shows how excessive borrowing undermines the prosperity of middle class America. While the recession that began in mid-2007 has widened the scope of the financial pain caused by overindebtedness, the problem predated that large-scale economic meltdown. And by all indicators, consumer debt will be a defining feature of middle-class families for years to come. The staples of middle-class life—going to college, buying a house, starting a small business—carry with them more financial risk than ever before, requiring more borrowing and new riskier forms of borrowing. This book reveals the people behind the statistics, looking closely at how people get to the point of serious financial distress, the hardships of dealing with overwhelming debt, and the difficulty of righting one's financial life. In telling the stories of financial failures, this book exposes an all-too-real part of middle-class life that is often lost in the success stories that dominate the American economic narrative. Authored by experts in several disciplines, including economics, law, political science, psychology, and sociology, Broke presents analyses from an original, proprietary data set of unprecedented scope and detail, the 2007 Consumer Bankruptcy Project. Topics include class status, home ownership, educational attainment, impacts of self-employment, gender differences, economic security, and the emotional costs of bankruptcy. The book makes judicious use of illustrations to present key findings and concludes with a discussion of the implications of the data for contemporary policy debates.
Author | : Commission on the Bankruptcy Laws of the United States |
Publisher | : |
Total Pages | : 342 |
Release | : 1973 |
Genre | : Bankruptcy |
ISBN | : |
Author | : Teresa A. Sullivan |
Publisher | : Beard Books |
Total Pages | : 392 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9781893122154 |
Bankruptcy in America is a booming business, with hundreds of thousands of ordinary Americans filing for bankruptcy each year. Is this dramatic growth a result of mushrooming debt or does it reflect a moral decline that permits the middle class to evade their debts? As We Forgive Our Debtors addresses these questions with hard empirical data drawn from bankruptcy court filings. The authors of this multidisciplinary study describe the law and the statistics in clear, nontechnical language, combining a thorough statistical description of the social and economic position of consumer bankrupts with human portraits of the debtors and creditors whose journeys have ended in bankruptcy court. Book jacket.
Author | : David A. Skeel Jr. |
Publisher | : Princeton University Press |
Total Pages | : 296 |
Release | : 2014-04-24 |
Genre | : Business & Economics |
ISBN | : 1400828503 |
Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.