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Pamela Foohey
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The National Conference of Bankruptcy Judges' annual conference is happening soon – Wednesday, October 30 through Saturday, November 2. I'm delighted to be part of this year's education committee. The 2019 conference features some panels that include Slipsters and touch... Continue reading
Posted Sep 19, 2019 at Credit Slips
In America, people drive — to work, to the doctor, to the grocery store, to their kids' daycare, to see their aging parents. Research shows that car ownership increases the probability of employment and number of hours worked; households without... Continue reading
Posted Sep 16, 2019 at Credit Slips
A couple days ago, Judge Garrity Jr. of the Bankruptcy Court for the Southern District of New York issued a 132 page opinion denying confirmation of Ditech's proposed plan. Ditech, of course, is an originator and servicer of mortgages, including... Continue reading
Posted Aug 30, 2019 at Credit Slips
This post is co-authored with my student, Kelsey Brandes, rising 3L, IU Maurer School of Law Reports of hospitals, physician practices, healthcare systems, and clinics filing for bankruptcy have become seemingly increasingly well publicized in recent years. At the beginning... Continue reading
Posted May 23, 2019 at Credit Slips
Stephanie Land recently tweeted this depressing statistic: "a single parent would have to work 140 hours a week at minimum wage to pay for basic necessities." And Land would know. Her new memoir -- Maid: Hard Work, Low Pay, and... Continue reading
Posted Feb 5, 2019 at Credit Slips
I just posted to the Social Science Research Network my response -- Jevic's Promise: Procedural Justice in Chapter 11 -- to Jonathan Lipson's recent article about Czyzewski v. Jevic Holding Corp. and structured dismissals. In his article, The Secret Life... Continue reading
Posted Dec 11, 2018 at Credit Slips
A few weeks ago, Marie Reilly (Penn State Law, University Park) posted to SSRN a new paper, Catholic Dioceses in Bankruptcy, which details the outcomes of the eighteen chapter 11 cases filed by Catholic dioceses and religious institutes since 2004.... Continue reading
Posted Nov 19, 2018 at Credit Slips
Exciting news for consumer law scholars. To the best of my knowledge, the first ever conference in the United States dedicated expressly to scholarship in the field of consumer law is happening in February 2019 at the new Berkeley Center... Continue reading
Posted Sep 6, 2018 at Credit Slips
Last weekend, The New York Times published an opinion piece about animal shelters, Are We Loving Shelter Dogs to Death? It highlighted the sad reality that nationwide shelters are horribly overcrowded. According to the piece, a "big part" of shelters'... Continue reading
Posted Aug 24, 2018 at Credit Slips
Older Americans (age 65 and over) are increasingly likely to file bankruptcy and now comprise a larger proportion of the people who file bankruptcy -- and the effects are not small. Using data from the Consumer Bankruptcy Project, in a... Continue reading
Posted Aug 6, 2018 at Credit Slips
The Great Recession, the CFPB's creation, the rise of debt buying, changes in the debt collection industry, and advances in data collection have encouraged more research recently into issues of access to justice in the context of consumer law and... Continue reading
Posted Jun 26, 2018 at Credit Slips
Following up on Bob's post earlier this week about the Department of Education's request for information (RFI) regarding evaluating "undue hardship" claims in adversary proceedings to discharge student loans, a group of 23 academics, including myself, also submitted written comments... Continue reading
Posted May 25, 2018 at Credit Slips
It's Tax Day! When the new tax bill was debated late last year, a few reports noted an unintended consequence of the bill's expansion of the standard deduction might be decrease people's charitable contributions, in turn harming nonprofits. After the... Continue reading
Posted Apr 17, 2018 at Credit Slips
Following up on Alan White's post from this morning about the Education Department's draft notice about debt collection laws applicable to student loan debt collectors that prompted a Twitter moment, some more student loan news from the Education Department. Last... Continue reading
Posted Feb 28, 2018 at Credit Slips
The current Consumer Bankruptcy Project (CBP)’s co-investigators (myself, Slipster Bob Lawless, and past Slipsters Katie Porter & Debb Thorne) just posted to SSRN our new article (forthcoming in Notre Dame Law Review), Life in the Sweatbox. “Sweatbox” refers to the... Continue reading
Posted Feb 20, 2018 at Credit Slips
Yesterday I posted about the number of religious organizations that filed chapter 11 between 2006 and 2017, and how their filings track fluctuations in consumer bankruptcy filings during those years. Non-religious non-profit organizations also file chapter 11, but in fewer... Continue reading
Posted Feb 16, 2018 at Credit Slips
Not only are religious organizations still filing under chapter 11. As in prior years, they continue to file under chapter 11 in line with fluctuations in consumer bankruptcy filings. Find a couple graphs below to show this. But first, some... Continue reading
Posted Feb 15, 2018 at Credit Slips
Several days ago, Stephanie McNeal at BuzzFeed News published a short piece on Lularoe's intersection with consumer bankruptcy filings. I've blogged about multi-level marketing (MLM) companies' potential role in bankruptcy filings a couple times. So when BuzzFeed sent me a... Continue reading
Posted Nov 11, 2017 at Credit Slips
#BankBlack emerged on Twitter earlier this summer. The hashtag began as an encouragement to those protesting police brutality to move their money to black-owned banks, and is credited with growing the assets of black-owned banks by $6 million over the... Continue reading
Posted Oct 2, 2017 at Credit Slips
Last year, I posted about John Oliver's segment on Last Week Tonight dissecting multilevel marketing (MLM) companies (aka pyramid schemes), and proposed a link between personal debt, bankruptcy, and MLM companies. Prominent MLM companies include Amway, Herbalife, the relatively new... Continue reading
Posted Aug 8, 2017 at Credit Slips
Yesterday I purchased a travel alarm clock through Amazon. This morning, the manufacturer emailed me with instructions for its use, including a very important point about switching the travel lock button off to activate the clock. The clock apparently arrives... Continue reading
Posted May 26, 2017 at Credit Slips
Empirical studies have shown that minorities pay more for goods and services, and that they pay more to finance their purchases of those goods and services -- for instance, through subprime home and auto loans. Machine Bias, a new study... Continue reading
Posted Apr 7, 2017 at Credit Slips
Thanks for the comments, Jason. On the Morrison and Uettwiller paper, they still find racial sorting, just less of it. I read the paper to come to the same basic conclusion as "Race, Attorney Influence, and Bankruptcy Chapter Choice." In addition, Chicago is idiosyncratic about chapter 13s and parking tickets. What makes these chapter 13 cases work well in Chicago may not translate to other districts. Nonetheless, it is an interesting paper! On the cars and "no money down" bankruptcy, good idea. We will look into that. Regarding attorney “say” in chapter choice, I do not think that these results "belie" the attorney influence point. Indeed, I don’t think a conclusion can be drawn from the results either way. One story is what I think is your idea that the debtor and attorney come to a decision in which the debtor had the ultimate “say” in chapter choice. An equally plausible story is that there is little to no discussion about chapter choice. For instance, the debtor might come to the attorney with a chapter in mind. In high chapter 13 districts, that chapter is more likely to be chapter 13 because that is what debtors hear about from others in their communities. The attorney simply agrees. Or the debtor might not know much about bankruptcy, and the attorney simply may offer a chapter with little discussion of alternatives. In these instances, debtors still may indicate that the attorney had little "say" in chapter choice. In the draft paper, we offer these results without much commentary. This too is something we will consider further. Thanks!
Many of us on Credit Slips have been part of the Consumer Bankruptcy Project (CBP), a long-term research project studying people who file chapter 7 and 13 bankruptcy. Several years ago, some of us blogged about the writings from the... Continue reading
Posted Mar 6, 2017 at Credit Slips
Over at Consumer Law & Policy Blog, Jeff Sovern recently discussed James Kwak's new book, Economism: Bad Economics and the Rise of Inequality, which mounts a convincing case against the blind application of Economics 101 to important policy questions, such... Continue reading
Posted Feb 20, 2017 at Credit Slips