Word: repays
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Other Visa- and MasterCard-financed studies asserted that many whose debts are discharged in bankruptcy could actually pay some of their bills but don't. The Credit Research Center at Georgetown University estimated that 25% of the debtors who file in Chapter 7 could repay more than 30% of their nonhousing debt over five years. The study warned that the continuing rise in bankruptcy filings would increase the cost of credit. It concluded: "Our results imply that the bankruptcy system itself is contributing to these rising costs by offering the opportunity to wipe out debt with a single signature...
...study of 1,955 Chapter 7 bankruptcy filers in 1997-98 by the Executive Office for U.S. Trustees, which monitors the bankruptcy system, concluded that "by the time they filed, they had little if any capacity to repay. In fact, most will have to increase income or reduce expenses to remain solvent after bankruptcy...
...study by two law professors at Creighton University, funded by the nonpartisan American Bankruptcy Institute, found that only 3.6% of Chapter 7 debtors would be able to pay more. "The vast majority belong in that chapter," the study stressed. "They have too little income after necessary expenses to repay unsecured debt. It is vital, therefore, that no undue burdens be thrust on that needy majority in order to flush out a small minority of abusers." The amount that might be collected: less than $1 billion...
...come under increasing fire since it played a visible role in the Asian financial crisis. In order to receive loans to repay foreign creditors, the affected nations were forced to implement various austerity programs, decreasing government spending and opening some sectors of the economy to foreign competition. One of the first casualties of these programs were corrupt and insolvent banking systems, from which the politically connected had been able to receive economically unjustified loans; the cleansing of the banking system has been given partial credit for the recent resurgence of growth in countries like South Korea. Additional casualties of such...
...addition, students who leave school during the semester will now be required to repay their Pell grants...