Abstract
This paper analyses debtors who applied for debt relief in the period between 1/1/2012 and 31/12/2013. As there has already been a research related to Moravian and Silesian regions in this matter, it focuses mainly on the debtors from Bohemian regions. It is therefore an analysis of a problem which has not been thoroughly covered nor published yet. New way of declaring bankruptcy, in other words debt relief, for debtors who are unable to repay their debt has been in action since 2008. Since then the number of personal bankruptcies has been gradually rising every year. This paper constitutes only a narrow section of broader research; therefore, only certain characteristics are covered. Those are age and gender of the debtors and the structure of the creditors in all of the regions. The results and information gathered during the research are being analysed and also compared among particular regions.
Highlights
1 Introduction Personal bankruptcy and the possibility for debtors who are unable to repay their debt to undergo a debt relief is a result of new legislation which has been in action since 2008
This paper on the hand does not cover the reasons for which the individuals filed for their personal bankruptcy as this research focuses on their characteristics rather than their story, as for example the research conducted in Lithuania by Arvydas Paskevicius and Neringa Jurgaityte (2015)
It is very important to note that this paper and the whole research does not cover what happens to the debtors after the debt relief is successfully approved
Summary
Personal bankruptcy and the possibility for debtors who are unable to repay their debt to undergo a debt relief is a result of new legislation which has been in action since 2008. This paper provides the reader with detailed analysis of certain characteristics of the debtors in bohemian regions and gives insight into their demographics and their creditor structure and at the same time covers considerably larger number of debtors. It reflects the outcomes of other research on debt relief and compares the results. From a different perspective, Jagtiani and Li (2015) analyse the availability of credit to debtors who filed for bankruptcy in US
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