Bankruptcy Current Events

Bankruptcy Current Events, Bankruptcy News Articles.
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Study finds bankruptcy rates among cancer patients increase along with survival time
An analysis linking federal bankruptcy court records to cancer registry data from nearly 232,000 adult cancer cases in western Washington during a 14-year period has found a hidden cost to survival: Insolvency rates increase along with the length of survival. (2011-06-06)

Study: Bankruptcy rates reflect policy, not people
What do high bankruptcy rates in states like Tennessee and Utah tell us about the people that live in those places? Not much, according to a new 50-state bankruptcy study published in the Journal of Law and Economics. (2009-06-22)

Paper: 'No money down' bankruptcies prevalent among the poor, minorities
Bankruptcy attorneys are increasingly encouraging clients to file for the more expensive 'no money down' option of Chapter 13 bankruptcy -- a tactic that's used more often with blacks than with whites, according to research co-written by Robert M. Lawless, the Max L. Rowe Professor of Law at Illinois and a leading consumer credit and bankruptcy expert. (2017-11-14)

Partnerships with bankrupt companies could be double-edged sword for investors
New research from the Indiana University Kelley School of Business found that when a company is in bankruptcy, its advertising and research and development investments can cut both ways. They increase the odds of surviving for some bankrupt companies and decrease the odds for others. (2020-07-30)

Does bankruptcy counseling help debtors establish a fresh start?
With a struggling US economy and a large number of employers downsizing their operations, many Americans are finding themselves in severe financial distress. In some cases, individuals decide their only solution is to file for bankruptcy. Angela Lyons, an associate professor of agricultural and consumer economics at the University of Illinois, launched a multiphase study in collaboration with Money Management International to investigate the impact of the educational requirements of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. (2010-06-15)

Study says, with counseling and education, there is life after bankruptcy
A multi-phase bankruptcy study conducted by University of Illinois economist Angela Lyons measured the impacts of both the counseling and education requirements by tracking debtors through the entire bankruptcy process. (2011-02-23)

Research: Bankruptcy judges influenced by apologies
Debtors who apologized were seen as more remorseful and were expected to manage their finances more carefully in the future compared to debtors who did not offer an apology, finds a study co-written by U. of I. law professors Jennifer K. Robbennolt and Robert M. Lawless. (2013-03-04)

Study: Stereotypes about race and responsibility persist in bankruptcy system
Bankruptcy attorneys have little knowledge of the racial disparities that exist within the bankruptcy system, relying instead on common stereotypes about race, responsibility and debt, according to research co-written by Robert M. Lawless, the Max L. Rowe Professor of Law at Illinois and a leading consumer credit and bankruptcy expert. (2017-11-29)

Tax rebates boost bankruptcies and why this isn't a bad thing
Many cash-strapped American families are waiting on their tax rebate to file for bankruptcy, and this trend has gained steam as costs related to filing for bankruptcy have gone up. Total bankruptcies increased by about 2 percent after the 2001 rebates, and by 7 percent after the 2008 rebates. This uptick, researchers say, follows the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act legislation, which raised legal and administrative fees. (2012-03-22)

INFORMS journal study: Brands, patents can protect firms from bankruptcy
If a firm faces troubled times during a stable market, strong advertising can carry it through. But when the market is turbulent, a firm's R&D is more likely to help save it from bankruptcy. A study published in Marketing Science, a journal of the Institute for Operations Research and the Management Sciences, shows that 'intangible assets' built with branding and patents helps protect firms from bankruptcy but their effectiveness depends on the market climate. (2015-06-19)

Over 60 percent of all US bankruptcies attributable to medical problems
Over 60 percent of all bankruptcies in the United States in 2007 were driven by medical incidents. In an article published in the August 2009 issue of the American Journal of Medicine, the results of the first-ever national random-sample survey of bankruptcy filers shows that illnesses and medical bills contribute to a large and increasing share of bankruptcies. The share of bankruptcies attributable to medical problems rose by 50 percent between 2001 and 2007. (2009-06-04)

Illness and medical bills cause half of all bankruptcies
Medical problems contributed to about half of all bankruptcies, involving 700,000 households in 2001, according to a story published as a Web exclusive by the journal Health Affairs. Families with children were especially hard hit-about 700,000 children lived in families that declared bankruptcy in the aftermath of serious medical problems. Another 600,000 spouses, elderly parents and other dependents brought the total number of people directly affected by medical bankruptcies to more than 2 million annually. (2005-02-02)

67 percent of bankruptcy filers cite illness and medical bills as contributors to financial ruin
Medical problems contributed to 66.5 percent of all bankruptcies according to a study published in the American Journal of Public Health, a percentage that is virtually unchanged since the passage of the ACA. Researchers found that yearly, 530,000 families filed bankruptcies linked to illness or medical bills. Debtors reported that medical bills contributed to 58.5 percent of bankruptcies, while illness-related income loss contributed to 44.3 percent; many debtors cited both of these medical issues. (2019-02-07)

Bankruptcy, international style: What financial factors predict corporate bankruptcy globally
In data mining more than a decade's worth of international bankruptcy records, a University of Cincinnati researcher has identified the company-related factors most likely to lead to bankruptcy in the US, UK and Japan. Companies in all three countries share only one common risk factor for bankruptcy: sales turnover. (2010-08-02)

A neural network model predicts whether a bank can go bust
The learning mechanism of neurones has inspired researchers at the University of Valladolid, Spain to create algorithms that can predict whether a bank will go bust. The model was correct for 96 percent of the banks that went bust in the USA in 2013 after analyzing their financial indicators from the previous decade, marked by the economic crisis. The most vulnerable were those which had accumulated loans from the construction sector and grown rapidly without sufficient provisions. (2015-05-05)

Illness, medical bills linked to nearly two-thirds of bankruptcies
Medical problems contributed to nearly two-thirds of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine that will be published online Thursday. The data were collected prior to the current economic downturn and hence likely understate the current burden of financial suffering. Between 2001 and 2007, the proportion of all bankruptcies attributable to medical problems rose by 49.6 percent. (2009-06-04)

Research evaluates how financial criminals evade laws
In a recent study published online in the International Journal of Arts and Sciences, two UT Dallas alumnae examine the frequency and implications of bankruptcy fraud and money laundering. They also assess the degree of cultural and ethical differences between these acts in the United States and Europe, where the crimes are more prevalent. (2017-03-10)

JAMA Oncology: An expert opinion on how to address the skyrocketing prices of cancer drugs
Many patients with cancer find themselves in great financial distress, in part because the costs of cancer-fighting drugs are skyrocketing. Is it possible to create public policy that will rein in these prices and cut patients' out-of-pocket costs? Not without significant tradeoffs that could reduce patients' access to some cancer medications, says physician, cancer researcher and health economist Dr. Scott Ramsey in a JAMA Oncology editorial. (2016-02-11)

Cancer diagnosis puts people at greater risk for bankruptcy
People diagnosed with cancer are more than two-and-a-half times more likely to declare bankruptcy than those without cancer, according to a new study from Fred Hutchinson Cancer Research Center. Researchers also found that younger cancer patients had two- to five-fold higher bankruptcy rates compared to older patients, and that overall bankruptcy filings increased as time passed following diagnosis. (2013-05-15)

One in two Americans fear a major health event could lead to bankruptcy
As the COVID-19 pandemic continues to put lives and livelihoods at risk, 1 in 2 Americans say they fear a major health event could lead them to file for bankruptcy, marking a 5% increase since 2019. The new research comes from the West Health-Gallup US Healthcare Study, an ongoing series of surveys on the impact of high healthcare costs on American lives. (2020-09-01)

GM, Chrysler bankruptcies created troubling legacy, legal scholars say
U. of I. law professors Charles J. Tabb and Ralph Brubaker argue that the legal principles applied in the GM and Chrysler bankruptcies -- two of the largest in US history at $83.5 and $39.9 billion, respectively -- were misguided, and have ultimately undermined the distributional norms of bankruptcy reorganizations. (2010-11-10)

Recreational gambling appears to be associated with good health in older adults
There appears to be an association between recreational gambling and good health among elderly persons, unlike younger recreational gamblers, according to a Yale study. (2004-09-09)

Study quantifies costs when failed banks shun financial transparency
New study shows that more transparent accounting helps bidders, lowers costs when financial institutions fail. (2014-01-10)

How often do medical problems lead to bankruptcy?
A new MIT-led study has determined how often medical costs lead to personal bankruptcy. (2018-03-21)

New workout 'paradigm' promises to preserve value in financially troubled companies
With the recent wave of highly leveraged private equity deals and the current problems in credit markets, market observers are now predicting a sharp increase in corporate defaults, with possibly serious spillover effects. (2007-12-19)

What factors contribute to the success or failure of software firms?
Researchers from Pitt, McGill, and Georgia Tech reviewed data collected from 870 software firms between 1995 to 2007. They found that companies undertaking innovation-related actions and have higher marketing and operating abilities, are most likely to survive. (2010-11-18)

Balance forgiveness programs more effective at reducing credit card debt than lowering monthly minim
New research from Princeton University suggests that relief targeting longer-term debt, such as the partial forgiveness of account balances, has a greater effect on a borrower's overall financial health than strategies concentrating on short-term liquidity issues. (2017-10-02)

Inequality gap grew before the Great Recession and after, study finds
The Great Recession hit Americans across the socioeconomic spectrum, but the drivers behind these socioeconomic divides were mounting before the decline even hit, according to a paper published in PLOS ONE. (2019-04-25)

Financially wronged? New study says investors should target leadership instead of corporation itself
A new study by UC Assistant Professor of Law Lynn Bai and two colleagues quantifies the self-defeating aspects for shareholders who file class-action suits against corporations where they have holdings. As an alternative, the study says, target the corporate officers who signed off on the financial misdeeds. (2010-04-27)

Study: Courts of old Istanbul yield insights on modern poverty
Few might seek insights on Middle Eastern conflict or modern poverty in records of the Ottoman empire. Yet when Duke University economist Timur Kuran combed through centuries-old court documents, he made a surprising discovery with implications for modern times: The courts' actions had unintended consequences that inadvertently undercut people's finances. (2016-06-22)

The sorry state of health of US medicine
As the debate about health care in the United States rages, four insightful articles in the March 2011 issue of the American Journal of Medicine strive to add reasoned arguments and empirical research findings to the dialog. (2011-03-08)

Massachusetts reform hasn't stopped medical bankruptcies: Harvard study
The percentage of personal bankruptcies linked to medical bills or illness changed little, and the absolute number actually increased in Massachusetts after the implementation of its landmark 2006 law requiring people to buy health insurance. Between early 2007 and mid-2009, the share of all Massachusetts bankruptcies with a medical cause went from 59.3 percent to 52.9 percent, a non-significant decrease. The findings have national implications because the federal law is patterned after the Massachusetts reform. (2011-03-08)

Financial restructuring in fresh-start Chapter 11 reorganizations
The effectiveness of the existing bankruptcy code has long been a source of vigorous debate. More and more lately, high-profile firms like General Motors, Enron and K-Mart are seeking protection from creditors through Chapter 11 filings. But are these firms really getting the (2009-11-30)

Problem gambling is a serious health issue
Problem gambling is a health issue that needs to be taken seriously by all within the medical profession, argues a researcher in this week's BMJ. (2004-11-04)

Many cancer survivors experience financial burdens
An analysis of US data from 2011 indicates that nearly 29 percent of cancer survivors are financially burdened as a result of their cancer diagnosis and/or treatment. Published early online in CANCER, a peer-reviewed journal of the American Cancer Society, the study also reveals that such hardships can have lasting physical and mental effects on cancer survivors. (2016-03-14)

Have you heard? Nearly 15 percent of work email is gossip
According to some estimates, the average corporate email user sends 112 emails every day. About one out of every seven of those messages, says a new study from Georgia Tech, can be called gossip. (2012-06-06)

Nice people finish last when it comes to money
Nice people may be at greater risk of bankruptcy and other financial hardships compared with their less agreeable peers, not because they are more cooperative, but because they don't value money as much, according to research published by the American Psychological Association. (2018-10-11)

American cancer survivors face substantial financial hardship and financial sacrifices
American cancer survivors, particularly those 64 years or younger, faced substantial medical financial hardship and sacrifices in spending, savings, or living situation, according to data from a survey. (2020-01-15)

The challenge of mining rare-earth materials outside China
Five years ago, the cost of rare-earth materials that are critical for today's electronics went through the roof. An export quota set by China, which mines most of the world's rare earths, caused the price run-up. Though short-lived, the occurrence spurred calls for developing mines outside China, but whether others can challenge the country's dominance remains to be seen, reports Chemical & Engineering News (C&EN), the weekly newsmagazine of the American Chemical Society. (2015-07-29)

Shocking state of US health care shows achievement of universal health coverage not connected to GDP
While the debate on health reform in the US rages, the nation must confront the fact that, despite its wealth, an estimated 47 million of its citizens have no health coverage at all. Pulitzer Prize winner and best-selling author Laurie Garrett and colleagues say that achievement of Universal Health Coverage is not connected to a country's GDP, and cites several examples of countries much poorer than the US who are doing better. (2009-08-19)

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