Financial Benefits, Travel Costs, and Bankruptcy

June 16th, 2014
in econ_news

from the Philadelphia Fed

The cost of personal bankruptcy filers traveling to their bankruptcy trustees affects bankruptcy choices. Increased travel costs reduce the number of filings. Furthermore, for those individuals who do file, it was found that their increased travel costs need to be compensated by increased financial benefits of bankruptcy. Filers without cars (higher travel costs), as well as those with jobs (higher opportunity costs), receive larger per-kilometer financial benefits from bankruptcy

Follow up:

[click on image below to read the entire study]

Source: http://www.philadelphiafed.org/research-and-data/publications/working-papers/2014/wp14-18.pdf









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