CHAMPAIGN – A new paper co-authored by a University of Illinois at Urbana-Champaign expert who studies consumer credit issues provides the first comprehensive look at bankruptcy filers in more than 30 years, shedding light on economic stressors facing US debtors.
An analysis of consumer bankruptcies from 2013 to 2019 shows nine distinct patterns common to all filers — a finding that should provide policymakers with a rough blueprint for how to make the current bankruptcy system more effective and efficient, said Robert M. Lawless, the Max L Rowe professor of law at Illinois.
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