Bankruptcy

Juan Sanchez of the St. Louis Fed looks at recent bankruptcies and concludes that

"BAPCPA clearly had an impact on the number of bankruptcies being filed. However, the exact impact may not be known for some time, since the recession hit right after the BAPCPA was implemented."

I agree that it is going to be difficult to determine the impact of BAPCPA (Bankruptcy Abuse and Consumer Protection Act) . Consumer bankruptcy is usually the end of a series of events: debt, default, and non-bankruptcy collection. There are a many things besides the bankruptcy law that play a role in the process.

Also from the St Louis Fed is this discussion of a symposium on the balance sheets of American families.