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Abstract

The second half of the 1990s witnessed a steep climb in the number of personal bankruptcies (Figure 1), a climb that has abated somewhat only recently. For the full year 1998 bankruptcy filings totaled nearly 1.4 million, approximately double the number of cases registered four years earlier. Along the way, this surge in bankruptcy has raised concerns in many quarters about the financial condition of households and its implications for the profitability of lenders, the functioning of credit markets, and the outlook for consumer spending.

Keywords

Filing Rate Consumer Credit Secured Debt Credit Card Debt Bankruptcy Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Charles A. Luckett
    • 1
    • 2
  1. 1.Credit Research CenterUSA
  2. 2.Retired, Board of Governors of the Federal Reserve SystemUSA

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