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The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

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Tuesday, June 12, 2007


Bankruptcy Lawyer

Yes, the new bankruptcy law does help a lot. Lets face it, in a society where we spend above and beyond our means we will have people filing for bankruptcy. Btw, this is one of teh best bankruptcy blogs I've seen in ages. Keep up the good work.

Craig Torey

We need to let people know that even with the new bankruptcy law, there is still help available. Knowing our rights is our best defense.

Free Credit Counseling

I think its very important people are aware that there is free credit counseling, that it musn't be paid for. Excellent article.

Mike Smith

Great article


Jeff Sovern

Thanks for pointing this out Lauren.

Lauren E. Willis

FYI: Staten et al. appear to no longer assert that their research demonstrates credit counseling to be particularly effective. Although their 2002 self-published monograph quoted by Jeff did, their peer-reviewed article reporting their results - Elliehausen, Lundquist & Staten, The Impact of Credit Counseling on Subsequent Borrower Behavior, 41 J. Consumer Aff. 1 (Summer 2007) - does not. Their results, once controls for self-selection are added, do not show any better credit scores 3 years out for consumers who receive credit counseling versus those who do not. Although they show that the counseled consumers have less debt 3 years out, the difference is apparently not enough to have an effect on credit scores. Further, although the authors do not discuss this, the two-stage least squares regression analysis they perform to control for self-selection can only partially correct for this bias.

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