The Effects of the Changes in Chapter 7 Debtors' Lien-Avoidance Rights Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

by Carroll, Stephen J.; Clancy, Noreen; Bradley, Melissa A.; McClure, Jane P.

• ISBN13: 9780833042071
• ISBN10: 0833042076
• Format: Paperback
• Copyright: 2007-09-07
• Publisher: RAND Corporation

Summary

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) limited the types and quantities of exempt household goods on which debtors could avoid certain liens. Part of the motivation for these changes was a perception that debtors were using household goods as collateral to obtain loans that they never intended to repay. This study found no changes in debtor or creditor behavior due to the new definition of household goods.

Table of Contents

Introduction	p. 1
Household Goods Subject to Lien Avoidance Pre-BAPCPA	p. 2
Background	p. 3
Research Questions	p. 4
Research Plan	p. 6
Organization of This Report	p. 7
The Bankruptcy System	p. 9
Chapter 7 Bankruptcy	p. 9
Chapter 11 Bankruptcy	p. 10
Chapter 12 Bankruptcy	p. 10
Chapter 13 Bankruptcy	p. 10
Bankruptcy Petitions and Schedules	p. 10
Participants' Perceptions of the Effects of the Changes in Debtor's Lien-Avoidance Rights	p. 11
Overview	p. 11
Change in Business Practices	p. 12
Effect on the Courts	p. 12
Whom the New Law May Affect	p. 13
Empirical Analyses of the Effects of the Changes in Debtors' Lien-Avoidance Rights	p. 15
Bankruptcy Case Samples	p. 15
Limitations on Information Contained in a Debtor's Bankruptcy Case	p. 17
Conclusions	p. 25
Group Discussion Guide	p. 27
References	p. 29
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