LSN: Issues in Debtor-Creditor Relations (Topic)最新文献

{"title":"Credit Access after Consumer Bankruptcy Filing: New Evidence","authors":"Julapa Jagtiani, Wenli Li","doi":"10.2139/ssrn.2494402","DOIUrl":"https://doi.org/10.2139/ssrn.2494402","url":null,"abstract":"Supersedes Working Paper No. 13-24 This paper uses a unique data set to shed new light on credit availability to consumer bankruptcy filers. In particular, the authors’ data allow them to distinguish between Chapter 7 and Chapter 13 bankruptcy filings, to observe changes in credit demand and credit supply explicitly, and to differentiate existing and new credit accounts. The paper has four main findings. First, despite speedy recovery in their risk scores after bankruptcy filing, most filers have much reduced access to credit in terms of credit limits, and the impact seems to be long lasting (well beyond the discharge date). Second, the reduction in credit access stems mainly from the supply side as consumer inquiries recover significantly after the filing, while credit limits remain low. Third, new lenders do not treat Chapter 13 filers more favorably than Chapter 7 filers. In fact, Chapter 13 filers are much less likely to receive new credit cards than Chapter 7 filers even after controlling for borrower characteristics and local economic environment. Finally, the authors find that Chapter 13 filers overall end up with a slightly larger credit limit amount than Chapter 7 filers (both after the filing and after discharge) because they are able to maintain more of their old credit from before bankruptcy filing. The authors’ results cast doubt on the effectiveness of the current bankruptcy system in providing relief to bankruptcy filers and especially its recent push to get debtors into Chapter 13.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130481112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Lona v. Citibank (2011) 202 CA4th 89, 134 CR3d 622","authors":"R. Bernhardt","doi":"10.2139/SSRN.2096414","DOIUrl":"https://doi.org/10.2139/SSRN.2096414","url":null,"abstract":"A recent California decision allows homeowners to successfully their foreclosure sale because the original loan was unconscionable.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"219 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114682369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Carta De Crédito, Contrato Enmascarado (Letter of Credit, a Masked Contract)","authors":"Andres Menendez","doi":"10.2139/ssrn.2838854","DOIUrl":"https://doi.org/10.2139/ssrn.2838854","url":null,"abstract":"The English version of this paper can be found at http://ssrn.com/abstract= 2019474.Spanish Abstract: Para algunos tratadistas juridicos “las cartas de credito” no son contratos; existe la percepcion de que la obligacion es unica en sus caracteristicas y los principios de las leyes contractuales no son aplicables para la “carta de credito”. Algunos han tratado de sostener que ha surgido un vinculo contractual entre el banco encargado de emitir la “carta de credito” y las partes involucradas en la transaccion; sin embargo, ninguno de los sistemas legales ha tenido exito en definir un esquema contractual para la figura de “la carta de credito”. La teoria de la estipulacion para el beneficio de un tercero ha sido uno de los enfoques que se ha tenido en cuenta para establecer un vinculo contractual de “la carta de credito”. Obviamente dentro de este enfoque el comprador se situa como el otorgador, el banco como el promitente, y el vendedor como el beneficiario. Muchos conflictos emergen bajo ese enfoque que impiden tipificar la “carta de credito” como un contrato. Otro enfoque menos obvio puede ser que considere al comprador como el tercero beneficiario de la relacion entre el banco y el vendedor. Este punto de vista es viable si se considera la teoria de la “causa” propuesta por Jean Domat, en la cual determina que “la razon del compromiso contractual esta fundamentada en lo que cada una de las partes otorga a la otra siendo esta la causa del contrato”. El presente ensayo evalua la posibilidad de tipificar la “carta de credito” con la teoria contractual de la estipulacion para el beneficio de un tercero desde el punto de vista en el que el comprador es el tercero beneficiario.English Abstract: For some authors “letters of credit” are not contracts; there is the perception that the obligation is unique in its characteristics and no principles of contract law apply to “letters of credit”. Some attempts to support a contractual link between the issuing bank and the parties involved in the “letter of credit” transaction have emerged; however, none of the legal systems have succeeded in defining a contractual scheme for “letters of credit”. The theory of the stipulation for the benefit of a third party has been one of the approaches that has been considered in establishing a contractual link to “letters of credit”. The most obvious approach to relate “letters of credit” with the theory of the stipulation for the benefit of a third party is to place the purchaser of goods as the stipulator, the bank as the promisor, and the seller as the beneficiary. However, several conflicting factors emerged from this arrangement. Another less obvious approach could be to consider the buyer as the third party beneficiary of the proposed contractual relationship between the banker and the seller. This point of view is viable if one considers the civil law theory of “cause” proposed by Jean Domat, which states that \"In business contracts, the cause of the engagement of o","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"276 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123412721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do Consumers Choose the Right Credit Contracts?","authors":"Sumit Agarwal, S. Chomsisengphet, Chunlin Liu, Nicholas S. Souleles","doi":"10.2139/ssrn.843826","DOIUrl":"https://doi.org/10.2139/ssrn.843826","url":null,"abstract":"A number of studies have pointed to various mistakes that consumers might make in their consumption-saving and financial decisions. We utilize a unique market experiment conducted by a large U.S. bank to assess how systematic and costly such mistakes are in practice. The bank offered consumers a choice between two credit card contracts, one with an annual fee but a lower interest rate and one with no annual fee but a higher interest rate. To minimize their total interest costs net of the fee, consumers expecting to borrow a sufficiently large amount should choose the contract with the fee, and vice-versa. We find that on average consumers chose the contract that ex post minimized their net costs. A substantial fraction of consumers (about 40%) still chose the ex post sub-optimal contract, with some incurring hundreds of dollars of avoidable interest costs. Nonetheless, the probability of choosing the sub-optimal contract declines with the dollar magnitude of the potential error, and consumers with larger errors were more likely to subsequently switch to the optimal contract. Thus most of the errors appear not to have been very costly, with the exception that a small minority of consumers persists in holding substantially sub-optimal contracts without switching.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"27 22","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120835918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Hohfeld's Power-Liability/Right-Duty Distinction in the Law of Restitution","authors":"Peter Jaffey","doi":"10.2139/ssrn.3799980","DOIUrl":"https://doi.org/10.2139/ssrn.3799980","url":null,"abstract":"I argue that a debt, which is generally taken to be a standard example of a Hohfeldian right-duty relation, is actually properly understood as a power-liability relation, although a separate right-duty relation can arise in respect of it. This understanding provides a solution to a problem devised by MacCormick and discussed in the jurisprudence literature concerning a right to payment from the estate of a deceased person. In the main part of the article, I argue that a restitutionary claim to recover money or property invalidly transferred is also a Hohfeldian power, not a right correlated with a duty to return the money or property. The recipient’s liability to the exercise of the power is to be distinguished from his or her duty to return or to preserve the money or property invalidly transferred. This analysis provides a solution to the controversy in the literature over the strict liability and fault-based approaches to restitutionary claims, and it explains and supports the traditional understanding of the equitable proprietary claim and the claim for knowing receipt. The discussion leads to some consideration of the harm principle and duties of positive action.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129494633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Whither Consumer Credit Counseling","authors":"R. Hunt","doi":"10.2139/ssrn.905263","DOIUrl":"https://doi.org/10.2139/ssrn.905263","url":null,"abstract":"Bob Hunt outlines the history of credit counseling in the U.S. He also observes that, despite its long track record, the credit counseling industry is not without controversy. For example, in recent years, concerns about conflicts of interest and the emergence of a new type of credit counseling agency have triggered significant legislative and regulatory activity. Hunt notes that there is evidence that credit counseling organizations are effective in helping some consumers. However, he points out that the lack of formal research in this area makes it difficult to interpret information and a lot more research needs to be done before we can reach any definitive conclusions. ; Also issued as Payment Cards Center Discussion Paper No. 05-22","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130289778","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}