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- Title
NEGATIVE EXTERNALITIES AND SUBPRIME AUTO FINANCING: TIME TO LET THE HANGING PARAGRAPH GO.
- Authors
Leonhard, Chunlin
- Abstract
The article offers information on the bankruptcy rule known as the "Hanging Paragraph" in the U.S. which makes car loans non-dischargeable in an individual bankruptcy under certain conditions if the loans qualify as purchase-money security interest ("PMSI") loans. Topics discussed include incongruence between the Hanging Paragraph and government's role in context with the economic theory, importance of cars in our society, and auto sales and financing markets.
- Subjects
UNITED States; BANKRUPTCY; AUTOMOBILE loans; PURCHASE money security interests; AUTOMOBILES &; society; AUTOMOBILE sales &; prices; LAW
- Publication
University of Toledo Law Review, 2014, Vol 45, Issue 2, p267
- ISSN
0042-0190
- Publication type
Article