(Best Syndication News) – A new research study found a trend of people funding their bankruptcy filings with tax rebates. They found that there was an uptick in filings for 2001 and 2008 when many Americans received tax rebates from the government. In 2001, there was a 2 percent increase, and in 2008, there was a seven percent increase.
The research will be published in the National Bureau of Economic Research. The study was conducted by Jialan Wang, PhD, assistant professor of finance at WUSTL’s Olin Business School, and colleagues at Columbia University’s Mailman School of Public Health and the University of Chicago Booth School of Business.