Part I of this article looks at consumer bankruptcy filing rates and attempts to identify some trends and economic indicators that might predict those filing rates. The $64,000 question (which, adjusted for inflation, today would be the "$4…
"You can never plan the future by the past." -Edmund Burke It has been said that life is all about timing. This is especially true when examining someone's financial status. Someone could be solvent today and insolvent tomorrow (or vice ver…
Editor's Note: See Related Article on p. 10. (Legislative Update) Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) significantly changes chapter 11 cases of individuals. After reviewing how chapter 11 works in an individual'…
Editor's Note: Part I was published in the May 2006 issue and Part II was published in the June 2006 issue of the ABI Journal. With an understanding of how post-confirmation fees and charges can arise and why no attempt to collect those fee…
Editor's Note: Part I was published in the May 2006 issue of the ABI Journal. Part II examines the legality of a mortgage creditor's attempts at post-closing collection of mortgage-related fees and charges incurred during the pendency of a …
Saving a principal residence from foreclosure and curing a mortgage arrearage are key reasons why many debtors file for chapter 13. While paying a home mortgage arrearage through a chapter 13 plan can cure that pre-petition arrearage, a hom…
[T]here is nothing wrong with the means test. People who make high incomes–lawyers, doctors and accountants are examples–and file bankruptcy, wiping out all their debts, who don't care who got hurt by their failure to pay and they care only…
Attend any bankruptcy-related legal conference, CLE or bar meeting (sometimes even happy hour at the local pub after a heavy day of §341 hearings) and the topic of the new mandatory credit counseling requirement isn't too far from someone's…
One of the primary reasons people file for bankruptcy is to obtain a stay 1 against certain creditor actions. Prior to the enactment of BAPCPA, 2 the stay went into effect the moment the case was filed, hence the term "automatic stay," and …
Allegations of the unauthorized practice of law, wrongfully withholding counseling certificates, failure to provide pro bono services, generally poor customer service: These are just a few of the issues that the mandatory credit counseling …