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Thursday, May 21 • 6:00pm - 6:00pm
208 The Determinants of Bankruptcy for US Households: Evidence from the 2010, 2013, and 2016 Survey of Consumer Finances

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When affected with financial hardships, some people decide to declare bankruptcy to establish a payment plan, eliminate debts and obtain legal protection from the courts. However, bankruptcy can remain on peoples' credit reports for 7 to 10 years, depending on the type of bankruptcy they choose to file for. Depending on state laws, a bankruptcy trustee can be forced to liquidate certain assets, which could delay or disrupt the financial goals of the persons filing for bankruptcy and negatively affect their future financial well-being. Even though the number of total filings have declined since 2010 and remained relatively steady between 2015 and 2018, the factors leading to personal bankruptcy still remain unclear. The purpose of this study is to investigate the determinants of consumer bankruptcy decisions.

Author(s): Guopeng Cheng, Chen Xu


Guopeng Cheng

Collegiate Assistant Professor, Virginia Tech

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube