Three strikes and yer out!" 1 That quintessential American idiom is now codified in the Bankruptcy Code with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Should a debtor file a third petitio…
The passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) has been the subject of most of the articles in the Consumer Corner column of this Journal for the past year. Much of the discussion has focused on …
While we begin to digest all of the new opinions on the complicated and sometimes ambiguous provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), it may also be a good time to recall one of the more mun…
The possibility of a bankruptcy filing has always affected the pre-bankruptcy conduct of both debtors and creditors. Yet several of the changes the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) made to the Bankrup…
It comes as no surprise that there has been a sense, mostly among members of Congress, that debtors who choose chapter 13 are more dedicated to repaying their creditors than those who choose chapter 7. Before enactment of the Bankruptcy Abu…
The "good faith" of a chapter 13 debtor will now be subject to examination at two different instances in the confirmation process. 11 U.S.C. §1325 (a)(3) requires that the court find that "the plan has been proposed in good faith and not by…
In order for an individual to be a debtor under BAPCPA, he or she must first comply with the credit counseling provisions of §109(h). Under this new provision, a debtor is required to receive an individual or group briefing from an approved…
Means testing is the heart of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). It provides a very detailed formula for determining when abuse arises in the case of an individual debtor with primarily consumer de…
It often comes as a surprise to first-year lawyers, but there is not "justice for all" in the American legal system: There is justice for those who can afford counsel, and for those fortunate enough to qualify for a legal services or pro bo…
Creditors in the consumer credit industry face many challenges in managing rising bankruptcy filings. Five components are critical to managing creditor rights recoveries: (1) operational procedures to minimize expenses, (2) a sound manageme…