First Time versus Repeat Filers: The Likelihood of Completing a Chapter 13 Bankruptcy Repayment Plan

11 Pages Posted: 26 Mar 2013

See all articles by Cäzilia Loibl

Cäzilia Loibl

The Ohio State University - Department of Human Sciences

Tahira K. Hira

Iowa State University - Department of Human Development and Family Studies

Michael Rupured

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension

Date Written: 2006

Abstract

Factors that explain the likelihood of completing a Chapter 13 repayment plan were identified. Using data from 489 Georgia participants who completed a 3-hour workshop, how factors differed for first-time and repeat filers were investigated. Results indicated that repeat filers were more likely than first-time filers to start an emergency fund, to reduce spending, and to write a spending plan. For repeat filers, six of seven recommended financial management practices were related to the likelihood of completing the Chapter 13 plan. For first-time filers, one practice, organization of financial records, was related to a higher likelihood to complete the Chapter 13 plan. Financial knowledge scores were not related to the likelihood of plan completion for either group.

Keywords: bankruptcy, financial behavior, financial education, financial knowledge

Suggested Citation

Loibl, Cäzilia and Hira, Tahira K. and Rupured, Michael, First Time versus Repeat Filers: The Likelihood of Completing a Chapter 13 Bankruptcy Repayment Plan (2006). Journal of Financial Counseling and Planning, Vol. 17, No. 1, 2006. Available at SSRN: https://ssrn.com/abstract=2239333

Cäzilia Loibl (Contact Author)

The Ohio State University - Department of Human Sciences ( email )

1787 Neil Avenue
265K Campbell Hall
Columbus, OH 43210
United States
614-292-4226 (Phone)

Tahira K. Hira

Iowa State University - Department of Human Development and Family Studies ( email )

Ames, IA 50011-2035
United States
(515) 294-2042 (Phone)
(515) 294-0565 (Fax)

HOME PAGE: http://www.eng.iastate.edu/tkhira/

Michael Rupured

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension ( email )

Athens, GA 30602-6254
United States

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