Working Papers

Landlords as Lenders of Last Resort? Late Housing Payments During Job Loss

Nathaniel Pattison

Working Paper

This paper examines the role that late housing payments play in helping households, especially renters, cope with job loss. Using a stylized model, I show that late payments can provide a source of informal credit that helps smooth consumption when facing shocks. I then empirically examine the prevalence and consequences of missed housing payments after job loss. There are three main results. First, missed housing payments are common after job loss. Second, the dollar value of these missed payments is large, providing substantial liquidity. Third, the large majority of missed payments do not lead to evictions or other forced moves.

Eligibility Screening and Means Testing in Consumer Bankruptcy

Daniel Millimet, Nathaniel Pattison

Working Paper

In the U.S. consumer bankruptcy system, the most important decision a debtor makes is whether to file under Chapter 7 or Chapter 13. This paper investigates the role of eligibility screening by courts in this decision.

Previously titled "A Tale of Two Bankruptcies: Geographic Differences in Bankruptcy Chapter Choice"

Chapter 13 Outcomes

Richard M. Hynes, Nathaniel Pattison

Working Paper

Many have criticized Chapter 13 due to a longstanding statistic that only one in three Chapter 13 cases obtain a discharge. Using new data and methods, this paper reexamines this statistic and its sensitivity to alternative definitions of the discharge rate. In recent years, the Chapter 13 discharge rate has been higher, varying from forty percent to sixty-six percent depending on the definition of discharge.