Business, Management and Accounting
8 years ago

Racial Disparities in Bankruptcy: Black Families Twice as Likely to Fail.

SSRN Electronic Journal
Cracking the Code: An Empirical Analysis of Consumer Bankruptcy Outcomes
Sara Sternberg Greene, Parina Patel, Katherine M. Porter

Paper Summary

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The study looked at why some people succeed in getting rid of their debts through bankruptcy while others don't. They found that black people are less likely to get debt relief than non-black people, those without a lawyer have a hard time, and families with kids struggle more. The study also showed that following certain local bankruptcy practices doesn't necessarily help. The researchers suggest ways to improve the bankruptcy system for families in debt.