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Press Releases

NACBA issues periodic press releases providing information about its activities and commentary about news events affecting the practice of consumer and small business bankruptcy. If you are interested in receiving notification when these releases are issued, you are welcome to sign up for our Media Alert Service

Press Releases

3 Consumer Groups Call For Congress To Fix Bankruptcy Laws

WASHINGTON, D.C. – April 12, 2007 -- Bankruptcy law changes are needed if hundreds of thousands of American families struggling with abusive subprime mortgages are going to escape foreclosure and the loss of up to $164 billion in home-based wealth, according to a joint call for Congressional action issued today by the National Association of Consumer Bankruptcy Attorneys (NACBA), the Consumer Federation of America (CFA) and the Center for Responsible Lending (CRL) …

Files:
Read the 04/12/076 Press Release
Joint “Call to Action” for Congress
  NACBA survey of bankruptcy attorneys
Audio of the April 12, 2007 news event.

Press:
Groups say bankruptcy reform needed to protect subprime borrowers amid U.S. housing slump
Consumer groups call for bankruptcy fix
Groups urge bankruptcy changes for home loans
Bankruptcy Laws Hurting Subprime Borrowers?
Consumer Groups: Fix Bankruptcy Laws So Hundreds of Thousands of Americans Can Avoid Home Foreclosures in Subprime Mortgage Crisis
'Tsunami' of foreclosures called imminent

Survey: Bankruptcy Filings On The Rise Again, Likely To Return To Pre-2005 Law Levels During Next Year

NACBA Surveys 700 U.S. Bankruptcy Attorneys on Eve of October 17, 2006 Anniversary of Controversial Law Change; Over Nine Out of 10 Say Law Has "Simply Increased the Costs of Bankruptcy," With No Benefits.

To view the full survey results, click here.

Read the Press Release
Listen to the 10/04/06 News Conference (.wma)

Press coverage:

Lawyers group knocks bankruptcy law - U.S. bankruptcy lawyers say creditor protection filings are on the increase, even after relevant federal laws were overhauled.
Bankruptcy reforms called a failure - Attorneys say changes hurting those in need.
Consumer bankruptcies on the rise - Year after new rules, numbers of filings beginning to grow.
New bankruptcy law criticized - Members of the National Association of Consumer Bankruptcy Attorneys believe the bankruptcy law overhaul has made the process more costly and complex, without making it more effective.
Bankruptcy Returns - Rising interest rates and declining house prices may likely push consumer bankruptcy filings to pre-reform levels by 2007.

September 9, 2006: Court: Credit Card Companies Put Ahead Of Church Tithing By Controversial 2005 Bankruptcy Reform Law.

Files:
Read the 9/07/06 Press Release.

Press coverage:
No place for church in state of bankruptcy
NY court ruling: Pay debts before tithing
Court Says Tithing Not an Option for the Bankrupt
Tithing and bankruptcy
Bankruptcy law forbids tithing, charitable donations
The tithe that binds
Legislation Puts Visa, MasterCard Before God
Bill would shield tithing from bankruptcy
Bill aims to protect post-bankruptcy tithing
Rendering to God and creditors

July 13, 2006 - NACBA Urges Free Initial Consultations With Consumers To Keep Bankruptcy Available, Joins CFA In Opposing 4th Bankruptcy Filing Fee Hike In Less Than A Year

New Jump in Fees Now Before Congress Would Mean a Doubling in Filing Costs in Under 12 Months; Congress Urged to Reallocate Existing Funds to Get Additional Money to Trustees.

Files:
Read the 7/13/06 Press Release.
Listen to the 7/13/06 news conference.
Listen to the 7/13/06 news conference. Podcast

Press coverage:
Costly relief
The price of going broke may be going up
Congress may sock bankruptcy filers with higher fee
4th boost sought for bankruptcy filing fee
Bankruptcy could grow less affordable
Bankruptcy may soon be unaffordable

 

May 11, 2006 - NACBA Files Suit to Have Provisions of New Law Held Unconstitutional

NACBA, along with the Connecticut Bar Association, has filed suit in the Connecticut federal court to have the "debt relief agency" provisions of the new bankruptcy law held unconstitutional if they are applied to attorneys. The suit seeks a preliminary injunction prohibiting their application to attorneys, including all NACBA members.

Files:
Read the 5/11/06 Press Release
Read the Memorandum in Support
Read the Complaint
Read the Plaintiff's Motion for Preliminary Injunction
Read Commercial Law League Amicus Brief
Read Government Brief in Opposition to Preliminary Injunction
Read Plaintiff's Reply to the Government's Opposition
Read Plaintiffs' Supplemental Brief
Read the transcript of the Preliminary Injunction Hearing

February 22, 2006 -REPORT: BANKRUPTCY "REFORMS" FAILING

What top credit counseling agencies are telling NACBA about their first 60,000 customers under the new law.

Links:

Read the 2/22/06 news release.

Files:

Read the 2/22/06 NACBA report
Brad Botes statement
John Rao statement
Leslie Linfield statement
Listen to the 2/22/06 news conference
Read the Memorandum in Support
Listen to the 2/22/06 news conference Podcast

January 5, 2005, New Officers Lead National Association of Bankruptcy Attorneys into Future

December 3, 2004, New Bankruptcy Statistics Show Aggressive Lending Practices Lead to Continued High Levels of Bankruptcy Filings

October 18, 2004, NACBA Announces New Web-based Tools to Support Advocacy Efforts

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