With all of the attention paid to BAPCPA's 2 new means test, credit counseling requirements and attorney sanctions, few people have noticed that Congress made an important change to the rules governing the taxation of income earned in the y…
In the eight-year run-up to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the coalition of consumer lenders driving this legislation won the public relations war for bankruptcy reform. With sometimes arrogant…
State Debt Collection Laws The federal Fair Debt Collection Practices Act (FDCPA) applies to debt-collection practices throughout the nation, even those that are purely intrastate in nature, and thus it essentially is a "uniform" law in eve…
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 1 (Reform) mandates pre-filing credit and budget counseling for consumers seeking bankruptcy protection under both chapters 7 and 13. This provision has remained consistent…
In October 1991, the fishing boat Andrea Gail and her six-man crew were headed to the fertile fishing grounds of the North Atlantic seeking the "big catch." Focused on the catch and the cash, the crew was unaware that three different storms…
Consumer protection laws regulating debt collection practices are a complex minefield of potential liability for creditors and other debt collectors. Large damage awards, provisions for recovery of attorneys' fees and increased awareness an…
Last month, we looked at the history of Rousey v. Jacoway and began to consider the arguments of the debtors, the trustee and the amicus in light of the Third Circuit's decision in Clark v. O'Neill ( In re Clark), 711 F.2d 21 (3d Cir. 1983)…
Editor's Note: Part II of this article will appear in the March 2005 issue. On Dec. 1, 2004, counsel for the debtors and their panel trustee squared off before the Supreme Court. The Court had granted certiorari in June to resolve a split a…