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Proximity to help matters: the effect of access to centers of legal aid on bankruptcy rates
Hrehová, Kristína ; Domonkos, Š.
Personal bankruptcy aims to provide a fresh start to debtors. While bankruptcy is often the only solution to financial distress, large spatial distance to affordable legal services may result in its underuse by eligible debtors. Using a large administrative dataset of personal bankruptcies, we study the impact of spatial distance from public Centers for Legal Aid (CLAs) on the regional incidence of personal bankruptcy in Slovakia. We avoid endogeneity by focusing on the increased availability of legal aid controlling for the expected distance from the nearest CLA, which serves as the first contact point in the process of filing for personal bankruptcy in the Slovak Republic. Distance from these legal aid centers has a significant impact on personal bankruptcy rates: the closer the nearest CLA is, the larger the prevalence of personal bankruptcy is in a given municipality. We quantify the impact of service access on personal bankruptcy rates, showing that improved access to free legal aid has both a statistically and substantively significant impact on the use of personal bankruptcy by the public. At the end of the almost 3-year-long period analyzed, municipalities with good access to CLAs had 3.3 bankruptcies more per 1,000 inhabitants than municipalities with weak access to CLAs. This effect is significant, as the average national bankruptcy rate until December 2019 reached 6.3 bankruptcies per 1,000 persons.
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Proposal for Insolvency Act ammendments in order to establish equality status of creditors in the process of personal banktruptcy through debts charge off
Prasková, Zuzana ; Smolík, Petr (advisor) ; Zoulík, František (referee)
Title: Proposal for Insolvency Act amendments in order to establish equality status of creditors in the process od personal bankruptcy through debts charge off Thesis summary: The purpose of my thesis is to describe the new form of personal bankruptcy through debts charge off and point out some weaknesses of the current legislation together with some proposals how to deal with them. The reasons that led me to choose this topic are i) new legislation of Insolvency Act which is effective from January 1st 2008, and ii) my practical experience with insolvency proceedings. The thesis composes from eleven chapters where each of them deals with particular phase of the process. Prior to the chapters there is an Introduction which describes the aim of the thesis, reasons for this specific topic and explanations of basic legislation related to personal bankruptcy. Chapter One focuses on origination of the insolvency law in the territory of The Czech Republic and is divided into three subchapters. The first subchapter focuses on the development of insolvency law before the origination of Czechoslovakia, the second subchapter describes changes in the insolvency law from 1918 and the last subchapter deals with the former Bankruptcy Act. Chapter Two clarifies basic changes that were introduced by the Insolvency Act and...
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Social Context of Personal Bankruptcy Debtors in the Central Region
Fialová, Dana ; Pazlarová, Hana (advisor) ; Šťastná, Jaroslava (referee)
Major aim of this bachelor thesis is to discuss the issue of debtors that apply for personal bankruptcy. Region wise will this paper cover the Central Bohemian region and the debtors living in this area. Theoretical part explains the main theories and processes that are crucial for understanding the issue of insolvency. Further will be introduced the insolvency law; and the reasons and factors that lead to a personal indebtedness and a personal bankruptcy. The practical part focuses on debtors from the Central Bohemian Region and provides thorough characteristics of these debtors. Several case studies will be presented, in order to demonstrate the reasons for indebtedness and to depict the insolvency process on the real cases. KEYWORDS: Personal bankruptcy, Debt relief, Debtor, Debt, Obligation, Creditor, Over-indebtedness, Bankruptcy, Financial literacy
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Proposal for Insolvency Act ammendments in order to establish equality status of creditors in the process of personal banktruptcy through debts charge off
Prasková, Zuzana ; Smolík, Petr (advisor) ; Zoulík, František (referee)
Title: Proposal for Insolvency Act amendments in order to establish equality status of creditors in the process od personal bankruptcy through debts charge off Thesis summary: The purpose of my thesis is to describe the new form of personal bankruptcy through debts charge off and point out some weaknesses of the current legislation together with some proposals how to deal with them. The reasons that led me to choose this topic are i) new legislation of Insolvency Act which is effective from January 1st 2008, and ii) my practical experience with insolvency proceedings. The thesis composes from eleven chapters where each of them deals with particular phase of the process. Prior to the chapters there is an Introduction which describes the aim of the thesis, reasons for this specific topic and explanations of basic legislation related to personal bankruptcy. Chapter One focuses on origination of the insolvency law in the territory of The Czech Republic and is divided into three subchapters. The first subchapter focuses on the development of insolvency law before the origination of Czechoslovakia, the second subchapter describes changes in the insolvency law from 1918 and the last subchapter deals with the former Bankruptcy Act. Chapter Two clarifies basic changes that were introduced by the Insolvency Act and...
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Comparative analysis of credit services of non-bank institutions
Kolská, Šárka ; Horová, Olga (advisor) ; Šmejkal, David (referee)
The aim of the Bachelor's Thesis is comparative analysis of non-bank loan institutions in the Czech Republic from the consumer perspective. It also intends to put them into context with other related topics and to evaluate the hypothesis of disadvantageousness of non-bank credits in comparison with bank credits. The theoretical part deals with financial literacy, differences between bank and non-bank institutions and results of previous qualitative research of their credit services. Attention is paid to the ethical problem represented by usury. Pawn shops and presentation events are mentioned as well. The thesis focuses on property seizure, personal bankruptcy and debt consultancy of non-profit organisations too. The practical part of the thesis contains comparison of selected non-bank institutions and comparison of a loan product of a concrete bank and one of non-bank company. The practical part also contains comparison of important non-profit debt counselling centres in the Czech Republic in terms of their services and their way of funding. The conclusion of the thesis aims to suggest solutions to risks of non-bank credits for consumers.
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An Analysis of Family Finances of Selected Employees and the Way out of Debt
Kratochvílová, Pavla ; Smrčka, Luboš (advisor) ; Strouhal, Jiří (referee)
The present diploma thesis deals with the indebtedness of employees of a selected company and the ways to help these employees. The main aim of the thesis is to analyze the present situation of the respective company in terms of foreclosure of its employees and, based on this, to propose possible solutions which might help to improve the financial situations of these employees. The sub-aim of the thesis is to define the reasons for indebtedness as well as to assess the level of financial literacy of selected employees. The thesis is divided into two parts: a theoretical and an analytical one. The thesis uses the following research methods: analysis, semi-structured interview, written questionnaire and secondary document analysis.
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Analysis of Household Income in the Czech Republic - Trends and Risks
Holubová, Hana ; Kaczor, Pavel (advisor) ; Luštický, Martin (referee)
The target of this work is to analyzes the financial situation of households in the Czech Republic with the focus on risks of households such poverty or debt trap. In the work I want prove that the poverty is connected with materiál deprivation, low work intensity and social exclusion. The main analysis are constructed on characteristics such as the economic activity of the person standing at the head of the household, age, sex, type of household or form of using flat. The work offers the possibility solving of the unfavourable situation of households.
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Insolvency Law in Practice - Personal Bankruptcy
Tomasková, Hana ; Hejda, Jan (advisor) ; Drahota, Jiří (referee)
Thesis on "Insolvency Law in Practice - Personal Bankruptcy" deals with a form of resolving insolvency or impending insolvency of due non-business entities, and that is the debt relief so-called personal bankruptcy. This thesis monitors the amount of submitted and rejected proposals to permit discharge and summarizes the most common reasons for their submissions and errors in the rejected proposals. The thesis analyzes the development of debt relief since 2008 with a focus on southern Bohemia. The conclusion is mentioned debt relief legislation in Austria.
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Analysis of the trend of household debt in the Czech Republic in the period of 2000 - 2011
Kučerková, Zuzana ; Kotýnková, Magdalena (advisor) ; Pavlíček, Tomáš (referee)
The aim of this thesis is to analyze the level of household debt in the Czech Republic in the period from 2000 to 2011, causes of indebtedness and analysis of use of personal bankruptcy. The theoretical part is focused on economic, social and legal aspect of the issue of household debt. The practical part consists of analysis of statistical data describing the development of the level of household debt in the years 2000 - 2011 with the help of monitoring absolute and relative measuring indicators. Further analysis is carried out using of personal bankruptcy in the Czech Republic in the period from 2008 to 2012. On the basic of these analyses, this work suggests the ways to improve the situation of over-indebted households. Special emphasis is placed on the relatively new of vulnerable households - pensioners and it is also defined the causes of this phenomenon.
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