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Who Files for Personal Bankruptcy in the United States?

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  • Jonathan D. Fisher

Abstract

Who files for bankruptcy in the United States is not well understood. Previous research relied on small samples from surveys or a small number of states from administrative records. Using over ten million administrative bankruptcy records linked to the 2000 Decennial Census and the 2001–2009 American Community Surveys, I document who files for bankruptcy. Compared to the US population, bankruptcy filers are middle income, more likely to be divorced, more likely to be black, more likely to be veterans, less likely to be immigrants, and more likely to have a high school degree or some college. Filers are more likely to be employed. The bankruptcy population is aging faster than the US population as a whole. Lastly, using pseudo‐panels I study what happens in the years around bankruptcy. Individuals are likely to get divorced in the years before bankruptcy and then remarry. Income falls before bankruptcy and rises after bankruptcy.

Suggested Citation

  • Jonathan D. Fisher, 2019. "Who Files for Personal Bankruptcy in the United States?," Journal of Consumer Affairs, Wiley Blackwell, vol. 53(4), pages 2003-2026, December.
    • Handle: RePEc:bla:jconsa:v:53:y:2019:i:4:p:2003-2026
    DOI: 10.1111/joca.12280
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    Cited by:

    1. Kyle Rozema, 2021. "Does the Bar Exam Protect the Public?," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 18(4), pages 801-848, December.
    2. Gajendran Raveendranathan & Georgios Stefanidis, 2025. "The Unprecedented Fall In U.S. Revolving Credit," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(1), pages 393-451, February.
    3. Dal Borgo Mariela, 2021. "Do Bankruptcy Protection Levels Affect Households' Demand for Stocks?," Working Papers 2021-03, Banco de México.
    4. Legal, Diego & Young, Eric R., 2024. "The effect of minimum wages on consumer bankruptcy," Journal of Economics and Business, Elsevier, vol. 129(C).
    5. Jonathan D. Fisher, 2020. "Social Influence And The Consumer Bankruptcy Decision," Contemporary Economic Policy, Western Economic Association International, vol. 38(3), pages 474-482, July.
    6. Raveendranathan, Gajendran, 2020. "Revolving credit lines and targeted search," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).
    7. Tal Gross & Raymond Kluender & Feng Liu & Matthew J. Notowidigdo & Jialan Wang, 2021. "The Economic Consequences of Bankruptcy Reform," American Economic Review, American Economic Association, vol. 111(7), pages 2309-2341, July.

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