Bankruptcy courts ill-prepared for tsunami of people going broke from coronavirus shutdown

Paige Marta Skiba; Dalié Jiménez; Michelle Miller; Pamela Foohey; Sara Sternberg Green

Bankruptcy courts ill-prepared for tsunami of people going broke from coronavirus shutdown

Paige Marta Skiba, Dalié Jiménez, Michelle Miller, Pamela Foohey, Sara Sternberg Green

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

As more Americans lose all or part of their incomes and struggle with mounting debts, another crisis looms: a wave of personal bankruptcies. Bankruptcy can discharge or erase many types of debts and stop foreclosures, repossessions and wage garnishments. But our research shows the bankruptcy system is difficult to navigate even in normal times, particularly for minorities, the elderly and those in rural areas.

Original language	English
Journal	The Conversation
State	Published - 2020

Keywords

Courts
Coronavirus
Bankruptcy
Personal debt
Chapter 11
Chapter 7
COVID-19

Disciplines

Economics

Access to Document

https://digitalcommons.lmu.edu/econ_fac/60

Cite this

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title = "Bankruptcy courts ill-prepared for tsunami of people going broke from coronavirus shutdown",

abstract = " As more Americans lose all or part of their incomes and struggle with mounting debts, another crisis looms: a wave of personal bankruptcies. Bankruptcy can discharge or erase many types of debts and stop foreclosures, repossessions and wage garnishments. But our research shows the bankruptcy system is difficult to navigate even in normal times, particularly for minorities, the elderly and those in rural areas.",

keywords = "Courts, Coronavirus, Bankruptcy, Personal debt, Chapter 11, Chapter 7, COVID-19",

author = "Skiba, {Paige Marta} and Dali{\'e} Jim{\'e}nez and Michelle Miller and Pamela Foohey and {Sternberg Green}, Sara",

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AB - As more Americans lose all or part of their incomes and struggle with mounting debts, another crisis looms: a wave of personal bankruptcies. Bankruptcy can discharge or erase many types of debts and stop foreclosures, repossessions and wage garnishments. But our research shows the bankruptcy system is difficult to navigate even in normal times, particularly for minorities, the elderly and those in rural areas.

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KW - Bankruptcy

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KW - Chapter 11

KW - Chapter 7

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