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  • Additional models were tested to assess

    2018-10-26

    Additional models were tested to assess the robustness of the main results to the different specifications. These included whether having a history of bankruptcy prior to the age 40-health module influenced the overall results. None of the 370 women with a pre-40 health bankruptcy who were added, however, declared bankruptcy during the course of the study. The addition of these women to the main analytic sample did not change the findings substantially from when they were not included. Model estimates are listed in Appendix C. Alternative specifications for the OLS and PSM models tested variations of the debt and asset variables, including matching on only net wealth, and total debt and total assets. These results were similar to those matched on secured and unsecured debts and total financial assets.
    Discussion and conclusion Linkages between socioeconomic status and health are well established in UNC 0642 Supplier health. Recent studies on women and health indicate declines in all-cause mortality among older adult women tied to socioeconomic status (Montez & Zajacova, 2014). This paper analyzed the health effects of women who try to navigate within existing structures that purport to deliver financial assistance. Financial and economic hardships can negatively influence the availability of resources and access to adequate healthcare manifesting in a women\'s long-term health and well being. Whereas those seeking debt assistance through bankruptcy have determined that the potential punitive effects of bankruptcy are no more costly than debt-related problems, and perhaps less costly. The effect size of bankruptcy on self-health and depressive symptoms was significant and non-negligible with the strength of the bankruptcy and health relationship attenuated depending on the model specification, such as controlling for prior health status or unobserved individual heterogeneity. The empirical analysis led to three main conclusions that provided solid evidence of a negative impact of bankruptcy on health for women. The first conclusion was that a consumer bankruptcy had an independent and significant negative impact on physical health of older women, lowering the level of self-rated health by a quarter on average. Health improvements, however, are not an explicit or guaranteed outcome of filing for bankruptcy (Dobbie & Song, 2015; Sullivan, Warren, & Westbrook, 2000). This finding suggests that for these women poor health was an unintended consequence from filing, one that increased their risk of mortality. The second conclusion was that bankruptcy was also negatively associated with mental health. Women who reported depressive symptoms at the age 40 health modules and declared bankruptcy, however, were driving this negative association. It is also possible that financial issues prior to age 40 contributed their mental health status, unfortunately data limitations preclude analyzing this association. The third conclusion, which stemmed from an exploration of differences within the bankruptcy system, finds that Chapter 7 filers fared worse in terms of physical health relative to those who did not file and in depressive symptoms relative to Chapter 13 filers. The conceptual framework hypothesized that given distinct structural attributes of the Chapter 13 program these filers would fare worse. Not to mention previous studies on financial strain and health have shown that persistent negative financial experiences as opposed to acute experiences have more severe impacts on individual well being (Balmer, Pleasence, Buck, & Walker, 2006; Kahn & Pearlin, 2006). The present analysis does not examine mechanisms for the differential outcomes of Chapter 7 and Chapter 13 filers, however, the results suggest that there was something about the structure of Chapter 7 bankruptcy that is contributing to poorer health outcomes for these women. Unfortunately, much of the research on post-bankruptcy outcomes have analyzed Chapter 13 filers or not distinguished by chapter. What we do know is that ninety percent of Chapter 7 cases are no asset cases (Gerardo & Flynn, 2016). This suggest that a previous history of financial problems and failed attempts to manage one\'s debts could have led to a bankruptcy filing; in that case the Chapter 7 filing was not necessarily representative of a “fresh start” but a financial failing. When most Chapter 13 filers fail their repayment plans Suppressor (intragenic) is common to refile under Chapter 7. The data does not have information on individuals whose filings were dismissed, or if they dismissed and refiled under a different chapter. Chapter 7 filers sampled could therefore be a hybrid of first-time filers and prior Chapter 13 filers.