Collecting consumer debt in America
Why should economic scholars study the consumer debt collection process? First, the cost and effectiveness of the collections process has implications for the pricing and availability of consumer credit. Second, changes in technology and the structure of credit markets have transformed the collections industry. Small, mom-and-pop operations are increasingly being replaced by firms operating nationally, collecting on billions of dollars in bad debt purchased from creditors. In “Collecting Consumer Debt in America,” Bob Hunt explores how creditors and their agents attempt to collect past-due consumer debt, particularly unsecured debt. Creditors have a number of remedies open to them, but their effectiveness is limited by the fact that consumers can file for bankruptcy. Even outside of bankruptcy, consumers enjoy a variety of legal protections, including some they may not be aware of. ; Also issued as Payment Cards Center Discussion Paper No 07-06
Volume (Year): (2007)
Issue (Month): Q2 ()
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References listed on IDEAS
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- Villegas, Daniel J., 1990. "Regulation of creditor practices: An evaluation of the FTC's credit practice rule," Journal of Economics and Business, Elsevier, vol. 42(1), pages 51-67, February.
- Richard L. Peterson, 1986. "Creditors' Use Of Collection Remedies," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(1), pages 71-86, March.
- Karen M. Pence, 2006. "Foreclosing on Opportunity: State Laws and Mortgage Credit," The Review of Economics and Statistics, MIT Press, vol. 88(1), pages 177-182, February.
- White, M.J., 1998. "Why Don't More Households File for Bankruptcy?," Papers 98-03, Michigan - Center for Research on Economic & Social Theory.
- White, Michelle J, 1998. "Why Don't More Households File for Bankruptcy?," Journal of Law, Economics, and Organization, Oxford University Press, vol. 14(2), pages 205-231, October.
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