Can bankruptcy can play a role in stemming the tide of rising inequality? Economists think maybe it can.
A whitepaper released by the National Bureau of Economic Research found that the bankruptcy code is an incredibly effective social insurance policy. According to their findings, getting approved for Chapter 13 bankruptcy protection “increases annual earnings by $5,562, decreases five-year mortality by 1.2 percentage points, and decreases five-year foreclosure rates ...
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