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Bob Lawless
University of Illinois
I'm a college professor with 3 kids.
Recent Activity
Credit Slips is honored to have been selected as part of the ABA Journal's Blawg 100, their annual list of the top 100 blogs about law and lawyering. It is our second year in a row for inclusion on the... Continue reading
Posted 7 days ago at Credit Slips
My hypothesis would be the same for many "causes" of bankruptcy. People who file often have many things happening in their lives that lead them to bankruptcy court. It is often hard to say that any one thing is the cause. Pyramid schemes are likely a contributor in the spiral of some into a bankruptcy filing.
Adam, I agree with a lot of your general comments. I have not read this specific paper and don't take a position on that either way. What I like to say is that legal scholars tend to have fine-grained knowledge of institutions that helps to ensure reliability and validity in empirical studies. Of course, as Jay points out, it can cut the other way. The other thing to which I wanted to react was the notion of having a collaborator. Yes. It is good practice to have collaborators period. I have never understood the legal academy's reluctance to embrace scholarly collaboration. In most other fields, working alone is generally a sign that no one will work with you. There should be more collaboration across all forms of legal scholarship.
This is a wonderful tribute, Katie. To my regret, I did not know Alan as well as some of the other Credit Slips bloggers. When we did interact, he was unfailingly welcoming and kind. As Katie and Melissa already have commented, Alan had an outstanding grasp of all elements of the bankruptcy system. When Alan spoke (or wrote), it was always something to which to pay attention. I will miss Alan and his many contributions to our scholarly community.
Toggle Commented Jul 29, 2016 on Remembering Alan Resnick at Credit Slips
Today is the tenth anniversary of the launch of Credit Slips. We started the blog in the middle of a big research project as an exercise in team building We also thought the blog might be a place where we... Continue reading
Posted Jul 18, 2016 at Credit Slips
Credit Slips blogger Katie Porter has produced a new textbook in consumer law that anyone teaching the subject should consider adopting. Indeed, law professors not teaching consumer law should to take a look at it and consider whether they should... Continue reading
Posted Jul 14, 2016 at Credit Slips
It has been a while since I last checked in on bankruptcy filing rates. The arrival of the latest figures from Epiq Systems was a welcome reminder to do so. We are at the halfway point for the year, and... Continue reading
Posted Jul 6, 2016 at Credit Slips
If you happen to be at the 2016 Law & Society Association meetings in New Orleans, stop by the panels from the Collaborative Research Network (CRN) on Household Finance. This group got its start as an international collaborative studying overindebtedness... Continue reading
Posted Jun 2, 2016 at Credit Slips
Recently, I have been spending a lot of time thinking about the psychology of other people's indebtedness. I see parallels from this work and the way we think about Puerto Rican government debt. This thinking then tends to stand in... Continue reading
Posted Mar 2, 2016 at Credit Slips
To amplify what Ken said, we don't know what the "true" mean is. Maybe the downward slide over the past few years is regression to the mean.
Thanks to both Richard White and Ed Flynn for their comments. November was a relatively high filing month, and December was relatively low. My point was that it would not take a huge shift in filings from December to November to produce that effect, not that the shift was permanent. Ed's numbers show that a shift is exactly what happened, although only partly for the reason I speculated. Statistically, I think it was right to change -- er, "smooth" -- the numbers for November and December to make the forecast more accurate.
Forecasting U.S. bankruptcy filings for this year was a little more complicated. In a comment to my post about the total 2015 bankruptcy filings, Erich Fabricius made the astute observation that December 2016 saw the introduction of new bankruptcy forms... Continue reading
Posted Jan 13, 2016 at Credit Slips
That is a great point, Erich. It is entirely possible December's statistical blip is from the new forms. As far as levelling out, I think December would still have been a decline but just not as big of a decline. If the form implementation is the reason, however, then some bankruptcies from December should be shifted into the new year.
According to the latest figures from Epiq Systems, total U.S. bankruptcy filings dropped 10% in 2015. The yearly total was 819,240 compared to 910,090 the previous year. As bankruptcy experts know, these figures are low. In 2015, there were 2.55... Continue reading
Posted Jan 7, 2016 at Credit Slips
Quite a few Credit Slips bloggers and former guests are panelists at the session the Debtor-Creditor Section of the Association of American Law Schools (AALS) meeting.The session is entitled, "Bankruptcy for the Ninety-Five Percent: Making the System Work for Small... Continue reading
Posted Jan 7, 2016 at Credit Slips
Credit Slips blogger Pamela Foohey has a new article on SSRN, "Lender Discrimination, Black Churches, and Bankruptcy." This paper builds on her previous work about churches in bankruptcy to dig into the demographics of which churches end up in bankruptcy... Continue reading
Posted Dec 18, 2015 at Credit Slips
The ABA Journal has named Credit Slips to its annual Blawg 100. Thanks for the recognition! We really appreciate it. It is a list of great blogs, and we are honored to be included on it. And, thanks to our... Continue reading
Posted Nov 23, 2015 at Credit Slips
On the consumer side, David, I have written a lot about this on the blog. Look under the "Bankruptcy Data" category. There are lots of theories about the ups and downs of consumer filing rate, but it consistently follows the amount of outstanding consumer debt. Full stop. It also does it unintuitive ways, namely that expansions of consumer credit in the short term drive down filing rates as consumers can use credit to ease a household liquidity crunch. In the long run, as consumer debt piles up on household balance sheets, the bankruptcy filing rate will have to go up. I do agree that making student loans dischargeable likely would result in a spike in the filing rate. Household balance sheets have been shedding dischargeable debt, and the biggest growth in consumer debt is in nondischargeable student loan debt.
Bernie Trujillo emailed me from Valparaiso University with the news that the Indiana bar examiners have added some bankruptcy law to the state bar exam. Specifically and effective February 2018, the Indiana bar exam will include "Indiana debt collection, including... Continue reading
Posted Nov 16, 2015 at Credit Slips
Frequent readers of the blog will know that David Lander has guest blogged for us several times. When he was last with us, David left with four topics he wanted to discuss further. When David wrote and said he had... Continue reading
Posted Nov 16, 2015 at Credit Slips
Writing about a book about the Bankruptcy Code? That, Adam, would be a sign that one's life has completely degraded, and it is time to look for another line of work.
Toggle Commented Sep 11, 2015 on How Do You C It? at Credit Slips
A friend tells me the WSJ has joined the side of light and truth on this issue:
Toggle Commented Sep 8, 2015 on How Do You C It? at Credit Slips
One of the great challenges to the bankruptcy system if not to the American way of life is those who insist on capitalizing the letter c when discussing chapters of the Bankruptcy Code. If it is "section 1129," as the... Continue reading
Posted Sep 8, 2015 at Credit Slips
My blogging has been light the past few months as we have been working on the eighth edition of what will now be LoPucki, Warren & Lawless, Secured Transactions: A Systems Approach. For you secured transactions teachers out there, we... Continue reading
Posted Aug 26, 2015 at Credit Slips
Today is the ninth anniversary of Credit Slips, which means we are now old enough for the fourth grade. Thanks for reading and for your support. The year we started, 2006, seems so long ago. The W was in the... Continue reading
Posted Jul 18, 2015 at Credit Slips