IDEAS home Printed from https://ideas.repec.org/a/taf/rsocec/v72y2014i2p186-208.html
   My bibliography  Save this article

Regional Differences in Chapter 13 Filings: Southern Legal Culture or Religion?

Author

Listed:
  • John H. Beck
  • Donald D. Hackney
  • John Hackney
  • Matthew Q. McPherson

Abstract

Chapter 7 is designed for debtors who do not have the ability to pay their existing debts and many times leads to a legal release of most debt. Chapter 13 is designed for debtors who have the ability to pay all or part of their debts in installments over a period of time. Bankruptcy research finds that the southern region of the USA has a significantly higher portion of Chapter 13 filings than the rest of the country, unexplainable by quantifiable demographic, legal, or economic differences. Our results suggest that religion is the driving force behind the abnormally high Chapter 13 filings in the southern USA.

Suggested Citation

  • John H. Beck & Donald D. Hackney & John Hackney & Matthew Q. McPherson, 2014. "Regional Differences in Chapter 13 Filings: Southern Legal Culture or Religion?," Review of Social Economy, Taylor & Francis Journals, vol. 72(2), pages 186-208, June.
    • Handle: RePEc:taf:rsocec:v:72:y:2014:i:2:p:186-208
    DOI: 10.1080/00346764.2013.861644
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00346764.2013.861644
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00346764.2013.861644?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2009. "Moral and Social Constraints to Strategic Default on Mortgages," Economics Working Papers ECO2009/27, European University Institute.
    2. Frank McIntyre & Daniel M. Sullivan & Laura Summers, 2015. "Lawyers Steer Clients Toward Lucrative Filings: Evidence from Consumer Bankruptcies," American Law and Economics Review, American Law and Economics Association, vol. 17(1), pages 245-289.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael J. Seiler & David M. Harrison, 2011. "Perceived Versus Actual Susceptibility to Normative Influence in the Presence of Defaulting Landlords," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 3(2), pages 55-77, September.
    2. Florian Oswald & Costas Meghir & Wenli Li, 2017. "Consumer Bankruptcy and Mortgage Default," 2017 Meeting Papers 1260, Society for Economic Dynamics.
    3. Asish Saha & Hock-Eam Lim & Goh-Yeok Siew, 2021. "Housing Loan Repayment Behaviour in Malaysia: An Analytical Insight," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 20(2), pages 1-19, September.
    4. Chan, Sewin & Gedal, Michael & Been, Vicki & Haughwout, Andrew, 2013. "The role of neighborhood characteristics in mortgage default risk: Evidence from New York City," Journal of Housing Economics, Elsevier, vol. 22(2), pages 100-118.
    5. John Y. Campbell, 2013. "Mortgage Market Design," Review of Finance, European Finance Association, vol. 17(1), pages 1-33.
    6. Goodstein, Ryan & Hanouna, Paul & Ramirez, Carlos D. & Stahel, Christof W., 2017. "Contagion effects in strategic mortgage defaults," Journal of Financial Intermediation, Elsevier, vol. 30(C), pages 50-60.
    7. Pruszkowski Tomasz, 2017. "Deficiency Judgments as a Mortgage Pricing Factor," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 53(2), pages 57-68, June.
    8. Plamen Nenov, 2013. "Regional Mismatch and Labor Reallocation in an Equilibrium Model of Migration," 2013 Meeting Papers 565, Society for Economic Dynamics.
    9. Susan Lund & Charles Roxburgh, 2010. "Debt and Deleveraging," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 11(2), pages 1-30, April.
    10. Gene Amromin & Jennifer Huang & Clemens Sialm & Edward Zhong, 2018. "Complex Mortgages [Why don’t lenders renegotiate more home mortgages? Redefaults, self-cures, and securitization]," Review of Finance, European Finance Association, vol. 22(6), pages 1975-2007.
    11. Tracy, Joseph & Wright, Joshua, 2016. "Payment changes and default risk: The impact of refinancing on expected credit losses," Journal of Urban Economics, Elsevier, vol. 93(C), pages 60-70.
    12. Olivier Mesly & David W. Shanafelt & Nicolas Huck, 2021. "Dysfunctional Markets: A Spray of Prey Perspective," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(3), pages 797-819, July.
    13. Benjamin J. Keys & Tomasz Piskorski & Amit Seru & Vikrant Vig, 2012. "Mortgage Financing in the Housing Boom and Bust," NBER Chapters, in: Housing and the Financial Crisis, pages 143-204, National Bureau of Economic Research, Inc.
    14. Shai Bernstein & Timothy McQuade & Richard R. Townsend, 2017. "Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession," NBER Working Papers 24011, National Bureau of Economic Research, Inc.
    15. Børsum, Øystein, 2010. "Contagious Mortgage Default," Memorandum 10/2010, Oslo University, Department of Economics.
    16. Clark, Brian & Hasan, Iftekhar & Lai, Helen & Li, Feng & Siddique, Akhtar, 2021. "Consumer defaults and social capital⋆," Journal of Financial Stability, Elsevier, vol. 53(C).
    17. Fan, Ying & Wu, Jing & Yang, Zan, 2017. "Informal borrowing and home purchase: Evidence from urban China," Regional Science and Urban Economics, Elsevier, vol. 67(C), pages 108-118.
    18. Khandani, Amir E. & Lo, Andrew W. & Merton, Robert C., 2013. "Systemic risk and the refinancing ratchet effect," Journal of Financial Economics, Elsevier, vol. 108(1), pages 29-45.
    19. Donald D. Hackney & Daniel Friesner & Matthew Q. McPherson, 2015. "Do Debtors Have an Obvious Financial Rationale for Filing a Chapter 13 Bankruptcy Petition?," Economics Bulletin, AccessEcon, vol. 35(3), pages 1572-1588.
    20. Demyanyk, Yuliya, 2017. "The impact of missed payments and foreclosures on credit scores," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 108-119.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rsocec:v:72:y:2014:i:2:p:186-208. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RRSE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.