%0 Journal Article
%T First Time Versus Repeat Filers: The Likelihood of Completing a Chapter 13 Bankruptcy Repayment Plan
%A Cazilia Loibl
%A Tahira K. Hira
%A Michael Rupured
%J Journal of Financial Counseling and Planning
%D 2006
%I Association for Financial Counseling and Planning Education
%X 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.
%K Bankruptcy
%K Financial behavior
%K Financial education
%K Financial knowledge
%U http://www.afcpe.org/assets/pdf/vol1713.pdf