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Determinants of the Consumer Bankruptcy Decision

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Author Info

  • Ian Domowitz

    (Pennsylvania State University,)

  • Robert L. Sartain

    (Abt Associates)

Abstract

Qualitative choice models of consumers' decisions to file for bankruptcy and their choice of bankruptcy chapter are estimated jointly, combining choice-based sampling techniques with a nested estimation procedure. Medical and credit card debt are found to be the strongest contributors to bankruptcy, with homeownership playing an important role with respect to both the decision to declare bankruptcy and the choice of bankruptcy alternative. The potential effects of legal changes relating to property exemptions and dischargeable debt categories are found to encourage debt repayment through Chapter 13. Copyright The American Finance Association 1999.

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Bibliographic Info

Article provided by American Finance Association in its journal The Journal of Finance.

Volume (Year): 54 (1999)
Issue (Month): 1 (02)
Pages: 403-420

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Handle: RePEc:bla:jfinan:v:54:y:1999:i:1:p:403-420

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  1. Health Care Bill Bankruptcies
    by Lori Robertson in FactCheck.org on 2008-12-18 12:00:00
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