NACBA aggregates bankruptcy related articles from around the web. Many of the articles listed below are from attorneys that practice bankruptcy law.
Monday, March 8th, 2010 - National Bankruptcy Forum
A setback for debtors and debtors attorney’s everywhere.
This part is bad for the attorneys:
Attorneys who provide bankruptcy assistance to assisted persons are debt relief agencies under the BAPCPA. By definition, “bankruptcy assistance” includes several services commonly performed by attorneys, e.g., providing “advice, counsel, [or] document preparation,” §101(4A). Moreover, in enumerating specific exceptions to
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Monday, March 8th, 2010 - Credit Slips
This morning, the Supreme Court issued its decision in Milavetz on prebankruptcy attorney-client counseling and bankruptcy attorney disclosures. I've got to get to a meeting so I don't have time for an extended post. The early reporting has been technically...
Monday, March 8th, 2010 - Consumer Law & Policy
Here. Tellingly, Gelles describes how a troublesome credit card practice that elicited only an advisory letter from OCC, that as Gelles puts it, "told card issuers to do a better job of warning customers they could be shafted," was later...
Monday, March 8th, 2010 - Credit Slips
Pick which blog post you want to read: The year-over-year increase in bankruptcy filings for February hit its lowest mark since the trough in filings after the 2005 changes to the bankruptcy. February saw only 6,170 filings per business day...
Monday, March 8th, 2010 - National Bankruptcy Forum
A bankruptcy case must be filed in the federal district where the debtor has maintained his residence or principal place of business “for the one hundred and eighty days immediately preceding such commencement, or for a longer portion of such one-hundred-and-eighty-day period.” 28 USC 1408. In laymen’s terms, the case must be filed in the bankruptcy
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Monday, March 8th, 2010 - Consumer Law & Policy
First we hear that the Senate financial reform bill will kill off the idea of an independent Consumer Financial Protection Agency and instead create a new bureau or division within the Federal Reserve (or is it in the Treasury Department?)....
Monday, March 8th, 2010 - Bankruptcy Law Network
People tell me that they are afraid of filing for bankruptcy. Fear of the unknown is a reasonable emotion. I am afraid of the dentist. I’m afraid of the pain from the drilling. I am afraid that the shot will hurt. I am afraid that something will go wrong. Then again, I’m just as afraid [...]
Monday, March 8th, 2010 - Bankruptcy Law Network
A Texas bankruptcy court ruled on December 30, 2009, that an employee who was fired after filing bankruptcy was not protected the bankruptcy code’s non-discrimination provision, 11 U.S.C. section 525(b). This section states as follows:
No private employer may terminate the employment of, or discriminate with respect to employment against, an individual who is or has [...]
Sunday, March 7th, 2010 - Consumer Law & Policy
Cross-posted from Baseline Scenario: This post was contributed by Norman I. Silber, a Professor of Law at Hofstra Law School, and Jeff Sovern , a Professor of Law at St. John’s University, principal drafters of a statement signed by more...
Sunday, March 7th, 2010 - Consumer Law & Policy
It's scheduled for March 10-13. Topics include foreclosure prevention, consumer protection, fair housing, financial regulatory reform, job creation/green jobs, access to loans for small businesses, community reinvestment, and preservation of affordable housing. More information here. (HT Ray Brescia).
Sunday, March 7th, 2010 - Bankruptcy Law Network
Representing yourself in a bankruptcy case has a non obvious downside: if the case develops problems, capable bankruptcy lawyers won’t step into a troubled case.
The judge in yesterday’s calendar was urging any number of individuals who represented themselves (in Chapter 11 cases, no less) to get a lawyer. He was candid with his expectation that [...]
Sunday, March 7th, 2010 - National Bankruptcy Forum
dmp, debt management plan, deficiency, Second Trust Deed, Charge off
Sunday, March 7th, 2010 - Bankruptcy Law Network
People who are thinking of filing bankruptcy cases tell me that they are ashamed.
Most bankruptcy lawyers keep tissues in their conference rooms. Many clients cry when they talk about filing their bankruptcy case. Sensitive attorneys are ready for this – we have tissues ready.
We can understand why our clients feel many emotions. For example, people [...]
Sunday, March 7th, 2010 - Bankruptcy & Your Passage Into & Out of Debt
Before you begin the bankruptcy process, it’s important to understand a few helpful hints to make it a more painless process.
Sunday, March 7th, 2010 - Bankruptcy Law Network
There are only a handful of court cases discussing how, or perhaps even whether, the attorney-client privilege applies in a bankruptcy case. A North Carolina bankruptcy court recently considered this question, and it confirmed what many have feared: the attorney-client privilege in bankruptcy is narrow in scope, and it may hardly exist at all.
Taylor v. [...]
Sunday, March 7th, 2010 - Bankruptcy Law Network
A recent California bankruptcy court decision addressed the question of when the circumstances creating “undue hardship” must arise to be condidered relevant in determining the dischargeability of student loans. This case, In re Zygarewicz, 2010 WL 710661 (Bky.E.D.Cal. Jan. 15, 2010), held that post-bankruptcy circumstances are not relevant in answering that question.
The debtor in Zygarewicz [...]
Sunday, March 7th, 2010 - Bankruptcy Law Network
Now that we’ve gotten almost through the first two pages of our bankruptcy petition, we’re ready to figure out the court where you will file your bankruptcy petition.
You’d think this would be a piece of cake too. For people who don’t move around too much, this is not too much of a problem. But laws [...]
Saturday, March 6th, 2010 - National Bankruptcy Forum
This past week has been “Bike Week” in Daytona Beach, which is the next county over. It’s not unusual to see groups of weekend warriors out riding around Central Florida, but more so this time of year. One question I’ve learned to ask during any initial bankruptcy consult is what I call
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Saturday, March 6th, 2010 - Bankruptcy & Your Passage Into & Out of Debt
Now, without Congressional action to extend these benefits, this latest look at the state of unemployment means an unprecedented number of jobless workers will lose their benefits and be ineligible to get more by June 2010.
Saturday, March 6th, 2010 - Bankruptcy & Your Passage Into & Out of Debt
One of the more important components addresses multiple fees for a single action. For example, if you are late and over your limit, you can only be assessed one fee. The beauty in this part is that it will include the fees that some banks are now charging for not using your card, called an inactivity fee.
Saturday, March 6th, 2010 - Bankruptcy & Your Passage Into & Out of Debt
You know that whole day-trading craze? Yeah, well ignore it. Don't try it. Those E-Trade babies are witty but they're not talking to you. Trying to make money on stocks with brief holding periods is rarely a healthy investment strategy.
Friday, March 5th, 2010 - Credit Slips
Here's something that's puzzled me: no state has yet to enact any serious foreclosure moratorium. In the 1930s, these moratoria sprouted up all around the country, and foreclosure rates (but not default rates), were much lower than today. California imposed...
Friday, March 5th, 2010 - Credit Slips
The small banks are dropping like flies. At this rate the only banks left are all is going to be too big to fail.
Friday, March 5th, 2010 - Bankruptcy & Your Passage Into & Out of Debt
A bit north, you can settle in balmy Carver County, Minnesota where income jumped by five percent for the same two years. Carver is close to Minneapolis, one of the Twin Cities along with St. Paul which are consistently present in many "Best Places to Live" lists.
If the Midwest or Lone Star State do not appeal to you, head just north of the Triangle to Hanover County in Virginia, an area which saw its per capita income also grow by five percent.
Friday, March 5th, 2010 - National Bankruptcy Forum
On February 8, 2010, the U.S. Bankruptcy Court for the Western District of Michigan (which covers Grand Rapids, Kalamazoo, Lansing, Traverse City, and Marquette) posted a notice on its website regarding an “Institute for Continuing Legal Education Seminar” to take place April 19, 2010 in Plymouth, Michigan. The notice (available here) indicates that the featured
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Friday, March 5th, 2010 - Bankruptcy Law Network
Bankruptcy – it’s easy, right? Anyone can do it, right? Read on.
So, intrepid readers, we are still learning how to file for bankruptcy. We’ve gotten just part way through the second page in this, our third installment. After you read this third installment, you’ll almost be done with page 2 of your bankruptcy papers.
Now you [...]
Thursday, March 4th, 2010 - Consumer Law & Policy
by Deepak Gupta It's been an eventful week in consumer law and policy in Washington so far. Here are a few highlights: Senate confirms two new Federal Trade Commissioners -- Julie Brill and Edith Ramirez. Brill worked on a wide...
Thursday, March 4th, 2010 - Consumer Law & Policy
by Paul Alan Levy I have blogged before about a suit brought by "Vision Media Television," against the consumer-complaint website 800Notes.com, for allowing the posting of messages that criticize Vision Media's misleading telemarketing claims. The messages reported that Vision Media...
Thursday, March 4th, 2010 - Bankruptcy Law Network
Will I ever get credit again? is the query from prospective bankruptcy clients. Before the Great Recession that we are living through, my answer was a confident, “Absolutely“. Now I’m not sure that what I’ve learned about bankruptcy and credit over 30 years of practice is of much use predicting the future.
It may be that [...]
Thursday, March 4th, 2010 - National Bankruptcy Forum
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast.
You need to file for bankruptcy.
Let me say it again for those of you who are still shaking your head.
YOU NEED to file for bankruptcy!
There, I gave you a little emphasis to
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Thursday, March 4th, 2010 - Consumer Law & Policy
Disregarding the doctrine of fair use, Comedy Central has announced that it is ready to sue bloggers and web sites that used unauthorized clips from its shows, arguing that "if (websites) are making money on our copyrighted content, then that...
Thursday, March 4th, 2010 - Bankruptcy Law Network
People think it’s easy to file bankruptcy. You’d be surprised how many people try to do it themselves. And even more people pay so-called “petition preparers” who say that they know how to do it for them. Usually, they mess up. We spent an entire article discussing just how to fill out the first page [...]
Thursday, March 4th, 2010 - Credit Slips
Did Congress' effort to protect you from your card company with the Credit CARD Act inspire you to pore over the new Cardmember "Agreement" that probably arrived in your mailbox this week? I actually read at least part of mine,...
Wednesday, March 3rd, 2010 - Bankruptcy & Your Passage Into & Out of Debt
In the series, Our Great Recession 2.0, we’ll delve into some of the more unique stories of this decade’s unprecedented economic downturn, allowing you to see familiar faces and dire places people are going in order to handle the financial meltdown head-on. In part one of this ongoing series, we meet GM autoworker Michael Hanley.
Wednesday, March 3rd, 2010 - Consumer Law & Policy
Will Ferrell, Fred Armisen, Chevy Chase, Dan Aykroyd, Dana Carvey and Darrell Hammond, the Saturday Night Live actors who have played every American president since Gerald Ford (aside from Ronald Reagan) have teamed up on a web video meant to...
Wednesday, March 3rd, 2010 - Bankruptcy & Your Passage Into & Out of Debt
HuffPost’s “Move Your Money” campaign urges you—the bank customer—to withdraw your money out of the big banks and into smaller community-oriented ones. The reason is simple: a post-recessionary payback of another color. Huffington argues that following their bailout these same big banks have done nothing to help small business or to drive lending to the average American. As a result, the economy can’t thrive nor begin producing the much-needed jobs so many taxpayers—who footed the bill for said bailout—so desperately need. And she’s hoping we’re not going to take it anymore.
Wednesday, March 3rd, 2010 - Credit Slips
William White has a rocking op-ed in the FT arguing that debt overhang, notably in the U.S. household sector, makes fiscal and monetary policy ineffective. White is one of the early pre-pre-pre-crisis proponents of macroprudential regulation, and always worth tuning...
Wednesday, March 3rd, 2010 - Bankruptcy & Your Passage Into & Out of Debt
Now, potential employers throughout the country are beginning to hold credit histories against already underworked and overwrought applicants. In fact, according to a recent survey by the Society for Human Resources Management, some sixty percent of employers said they run credit checks on at least some job applicants, compared with fewer than 42 percent in 2006.
Tuesday, March 2nd, 2010 - Credit Slips
As political wrangling over financial services reform continues, the creation of an independent CFPA remains a major bone of contention. A number of compromise proposals have been bruited: creating an independent bureau in Treasury, vesting the power in the Fed,...
Tuesday, March 2nd, 2010 - Credit Slips
While they hold some allure for the pointy-headed company I normally keep, the old fixing-floating-IMF-bailout handwringing detailed in my last post is nothing to the titillation of the Goldman-CDS angle on the Greek drama. FAQ series continues with a focus...
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