Avoidance of Transfers of Entireties Property - No Harm No Foul
The doctrine of tenants by the entireties contemplates the ownership of property by the marital union itself ("one flesh") and not by the separate spouses as co-tenants. As a result, the Bankruptcy Code preserves the debtor's right, when only one spouse files a
Chapter 13 Plan Modifications The Next BAPCPA Battleground
Debtors, chapter 13 trustees and courts around the country are wrestling with whether "projected" disposable income is different than disposable income on the B22C form, and whether "applicable commitment period" is a time period or a multiplier under the Bankruptcy
Judicial Discretion to Find Abuse under 707(b)(3)
[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 about themselves, this will
Automatic Termination of the Stay upon Second Filing under 362(c)(3) Are Two Strikes an Out
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 petition for relief after two
Understanding the New Semi-Automatic Stay
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 continued until the earlier of
Memo to Congress Fix Needed on New Best Interest Test in 1325(b)
The last time I wrote a column was shortly after the birth of my son. Since then, I’ve been delightfully occupied with the all-important task of raising Harrison, who I am happy to report is a bright, handsome and happy little guy (don’t worry, I won’t inflict pictures
A Circuits Split Does the Bankruptcy Code Implicitly Repeal the FDCPA
As most observers acknowledge, the automatic stay and the discharge injunction are the two cornerstones of consumer bankruptcy law. They are, respectively, a fundamental debtor protection and a fundamental debtor objective. 1 The automatic stay benefits debtors by
Ghosts of Individual Chapter 11 Debtors Ethical Issues in Representing Debtors in Individual Chapter 11s under BAPCPA Part I
This article honors (or dishonors) one of bankruptcy's greatest pieces of literature, A Christmas Carol, by Charles Dickens. 1 Early in the story, one of the most famous individual debtors in history, Jacob Marley, the former partner of Ebenezer Scrooge, is featured as
Individual Chapter 11 Cases under BAPCPA
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's case and how it differs from
The Duty to File Tax Returns under BAPCPA
Although anecdotal, many Department of Justice and Internal Revenue Service attorneys who practice bankruptcy would most likely state that one of their largest complaints with the previous version of the Bankruptcy Code was their inability to enforce tax compliance