Bankrupt Households

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Financial Crisis in American Households

Author : Joseph Nathan Cohen
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1440832226
Total Pages : 225 pages
Book Rating : 4.4/5 (48 download)

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Book Synopsis Financial Crisis in American Households by : Joseph Nathan Cohen

Download or read book Financial Crisis in American Households written by Joseph Nathan Cohen and published by Bloomsbury Publishing USA. This book was released on 2017-04-24 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than one-third of Americans could not sustain a basic livelihood without government assistance. Almost 60 percent of seniors are dependent on the government. Why is this? This book examines how the U.S. economy's failure to deliver high-quality, universally accessible basic necessities is creating acute financial insecurity among the American middle class. Over the past 30 years, America's middle class has grown more financially insecure. How much of this pressing problem is due to Americans' failure to restrain their spending versus their upwards spiraling—and increasingly necessary—expenditures on health care, education, and housing? And how can Americans choose between financial security and paying for essentials on a day-to-day basis? This book answers these tough questions and many more in its evaluation of a complex and contentious issue: how basic expenses of life in the 21st century are bankrupting American families. The book begins with a snapshot of U.S. household finances, an assessment of financial insecurity's prevalence across the nation, and a description of how American households have declined into their present precarious economic situation over the last three decades. The author's analysis then looks at how European countries pursue policies that make these essentials highly accessible and postulates that the socialization of these essentials in other countries has helped to solidify household finances and maintain living standards. The work uniquely focuses on the plight of the middle class in America to provide relevant, useful information to help as many readers as possible to better understand and improve their own financial situations.

Broke

Author : Katherine Porter
Publisher : Stanford University Press
ISBN 13 : 0804780587
Total Pages : 322 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Broke by : Katherine Porter

Download or read book Broke written by Katherine Porter and published by Stanford University Press. This book was released on 2012-01-11 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Two Income Trap

Author : Elizabeth Warren
Publisher :
ISBN 13 : 0465090907
Total Pages : 257 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Two Income Trap by : Elizabeth Warren

Download or read book The Two Income Trap written by Elizabeth Warren and published by . This book was released on 2004-08-18 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The groundbreaking "grenade of a book" that exposed the financial meltdown of today's middle-class families

Bankrupt Households and Economic Crisis. Evidence from the Greek Courts

Author : Emilia Marsellou
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Bankrupt Households and Economic Crisis. Evidence from the Greek Courts by : Emilia Marsellou

Download or read book Bankrupt Households and Economic Crisis. Evidence from the Greek Courts written by Emilia Marsellou and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the profile of the Greek bankrupt households and is the first to deal with the bankrupt households in Greece utilizing court data from the judicial decisions according to the newly established personal Bankruptcy Law 3869/ 2010. We compare the characteristics of the bankrupt households drawn from the court data with those of a control group of households without financial difficulties constructed from the EU-SILC database. Our findings indicate that income and/or job loss, family breakup, and women with children are important characteristics related to bankruptcy. We also find that although the median of the household disposable income of the bankrupt households is lower than that of the households without financial difficulties, the former do not fall below the poverty line at a greater rate than the latter, in all household size instances. This finding is in line with the results of earlier studies indicating that bankruptcy is not a poor household's issue. The results are confirmed using logistic regression relating the probability of bankruptcy to a set of socioeconomic measures.

Bankrupt in America

Author : Mary Eschelbach Hansen
Publisher : University of Chicago Press
ISBN 13 : 022667973X
Total Pages : 237 pages
Book Rating : 4.2/5 (266 download)

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Book Synopsis Bankrupt in America by : Mary Eschelbach Hansen

Download or read book Bankrupt in America written by Mary Eschelbach Hansen and published by University of Chicago Press. This book was released on 2020-02-05 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2005, more than two million Americans—six out of every 1,000 people—filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the relief of financially distressed households. In Bankrupt in America, Mary and Brad Hansen offer a vital perspective on the history of bankruptcy in America, beginning with the first lasting federal bankruptcy law enacted in 1898. Interweaving careful legal history and rigorous economic analysis, Bankrupt in America is the first work to trace how bankruptcy was transformed from an intermittently used constitutional provision, to an indispensable tool for business, to a central element of the social safety net for ordinary Americans. To do this, the authors track federal bankruptcy law, as well as related state and federal laws, examining the interaction between changes in the laws and changes in how people in each state used the bankruptcy law. In this thorough investigation, Hansen and Hansen reach novel conclusions about the causes and consequences of bankruptcy, adding nuance to the discussion of the relationship between bankruptcy rates and economic performance.

Bankruptcy

Author : Joseph Spooner
Publisher : Cambridge University Press
ISBN 13 : 1107166942
Total Pages : 309 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Bankruptcy by : Joseph Spooner

Download or read book Bankruptcy written by Joseph Spooner and published by Cambridge University Press. This book was released on 2019-04-11 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excessive household debt has allowed for economic growth, but this model has become increasingly unstable. Spooner examines bankruptcy law as a potential solution.

Bankrupt Households

Author : Judy Little Allen
Publisher :
ISBN 13 :
Total Pages : 119 pages
Book Rating : 4.:/5 (22 download)

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Book Synopsis Bankrupt Households by : Judy Little Allen

Download or read book Bankrupt Households written by Judy Little Allen and published by . This book was released on 1977 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Determinants of the Chapter 7 Consumer Bankruptcy Decision at the Household Level

Author : Ian Domowitz
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Determinants of the Chapter 7 Consumer Bankruptcy Decision at the Household Level by : Ian Domowitz

Download or read book Determinants of the Chapter 7 Consumer Bankruptcy Decision at the Household Level written by Ian Domowitz and published by . This book was released on 1993 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Helping Families Save Their Homes in Bankruptcy Act of 2009 and the Emergency Homeownership and Equity Protection Act

Author : United States. Congress. House. Committee on the Judiciary
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Helping Families Save Their Homes in Bankruptcy Act of 2009 and the Emergency Homeownership and Equity Protection Act by : United States. Congress. House. Committee on the Judiciary

Download or read book Helping Families Save Their Homes in Bankruptcy Act of 2009 and the Emergency Homeownership and Equity Protection Act written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 2009 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Helping Families Save Their Homes

Author : United States. Congress. Senate. Committee on the Judiciary
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Helping Families Save Their Homes by : United States. Congress. Senate. Committee on the Judiciary

Download or read book Helping Families Save Their Homes written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 2009 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Why Don't More Households File for Bankruptcy?

Author : Michelle J. White
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (246 download)

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Book Synopsis Why Don't More Households File for Bankruptcy? by : Michelle J. White

Download or read book Why Don't More Households File for Bankruptcy? written by Michelle J. White and published by . This book was released on 1998 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

United States Bankrupt Law, 1867

Author : United States
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis United States Bankrupt Law, 1867 by : United States

Download or read book United States Bankrupt Law, 1867 written by United States and published by . This book was released on 1867 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Bankrupt Households

Author : Judy Little Allen
Publisher :
ISBN 13 :
Total Pages : 238 pages
Book Rating : 4.:/5 (331 download)

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Book Synopsis Bankrupt Households by : Judy Little Allen

Download or read book Bankrupt Households written by Judy Little Allen and published by . This book was released on 1977 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Homeownership Experience of Households in Bankruptcy

Author : Sarah W. Carroll
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (255 download)

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Book Synopsis The Homeownership Experience of Households in Bankruptcy by : Sarah W. Carroll

Download or read book The Homeownership Experience of Households in Bankruptcy written by Sarah W. Carroll and published by . This book was released on 2008 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides the first in-depth analysis of the homeownership experience of households in bankruptcy. The authors consider households who are homeowners at the time of filing. These households are typically seriously delinquent on their mortgages at the time of filing. The authors measure how often they end up losing their houses in foreclosure, the time between bankruptcy filing and foreclosure sale, and the foreclosure sale price. In particular, they follow homeowners who filed for chapter 13 bankruptcy between 2001 and 2002 in New Castle County, Delaware, through October 2007. They present three main findings. First, close to 30 percent of the filers lost their houses in foreclosure despite filing for bankruptcy. The rate rose to over 40 percent for those who were 12 months or more behind on their mortgage payment, about the same fraction as among those who entered into foreclosure directly. Second, filing for bankruptcy allowed those who eventually lost their houses to foreclosure to remain in their houses for, on average, an additional year. Third, although the average final sale price exceeded borrowers' own estimates at the time of filing, the majority of the lenders suffered losses. These findings are pertinent to the recent debate over the bankruptcy code on mortgage modification. Finally, the paper also reports circumstances related to the loan, borrower, and lender that make it more or less likely that a certain result will take place.

Working Families in Financial Crisis

Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Working Families in Financial Crisis by : United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law

Download or read book Working Families in Financial Crisis written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law and published by . This book was released on 2008 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Accounting for the Rise in Consumer Bankruptcies

Author : Igor Livshits
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Accounting for the Rise in Consumer Bankruptcies by : Igor Livshits

Download or read book Accounting for the Rise in Consumer Bankruptcies written by Igor Livshits and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset holdings to evaluate several commonly offered explanations. We find that increased uncertainty (income shocks, expense uncertainty) cannot quantitatively account for the rise in bankruptcies. Instead, the rise in filings appears to mainly reflect changes in the credit market environment. We find that credit market innovations which cause a decrease in the transactions cost of lending and a decline in the cost of bankruptcy can largely accounting for the rise in consumer bankruptcy. We also argue that the abolition of usury laws and other legal changes are unimportant.

The Fragile Middle Class

Author : Teresa A. Sullivan
Publisher : Yale University Press
ISBN 13 : 0300253737
Total Pages : 405 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis The Fragile Middle Class by : Teresa A. Sullivan

Download or read book The Fragile Middle Class written by Teresa A. Sullivan and published by Yale University Press. This book was released on 2020-02-18 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have so many middle-class Americans encountered so much financial trouble? In this classic analysis of hard-pressed families, the authors discover that financial stability for many middle-class Americans is all too fragile. The authors consider the changing cultural and economic factors that threaten financial security and what they imply for the future vitality of the middle class. A new preface examines the persistent and new threats that have emerged since the original publication. “[A] fascinating, alarming study. . . . [This] chilling diagnosis of middle-class affliction demonstrates that we all may be only a job loss, medical problem or credit card indulgence away from the downward spiral leading to bankruptcy.”—Publishers Weekly "A well-designed and carefully executed study."—Andrew Greeley, University of Chicago "The Fragile Middle Class, a well-written work of social science that is about as gripping as the genre gets, forces us to reevaluate notions about consumerism."—American Prospect