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NewsFor daily updates please see the following web sites. NOTE - These web sites offer the most current information available from a variety of industry related resources.
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BNA Bankruptcy Law - Reporter
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| File | Description | Date Uploaded |
 doc/38kBIMPORTANT UPDATES –HOMESTEAD ACT AND AUTO DEBT |
Another Florida bankruptcy judge, this time in Tampa, has given broad application to the new BAPCPA provision capping the exemption for homesteads acquired less than 1,215 days before bankruptcy. | 3/7/2006 |
| doc/26kB DEBTOR CAN CRAMDOWN AUTO DEBT |
DEBTOR CAN ALTER THE INTEREST RATE FOR PURPOSES OF CRAMDOWN ON PMSI VEHICLE DEBT | 3/7/2006 |
| doc/26kB DOES BAPCPA ELIMINATE THE "RIDE-THROUGH" FOR SECURED DEBTS ABSENT REAFFIRMATION OR REDEMPTION? |
In chapter 7 cases, in connection with claims secured on personal property, under pre-reform law a debtor had the options of redeeming [§ 722] or reaffirming [§ 524(c)] a secured debt and retaining possession of the personal-property collateral, or surr | 2/14/2006 |
| doc/24kB CREDIT COUNSELING LAW DOESN'T DETER BANKRKUPTCY |
In the first 13 weeks after BAPCPA went into effect only 4.5 percent of the 14,907 debtors counseled by Money Management International had sufficient income to be considered for a debt management plan. Low figures apply across the country. | 2/14/2006 |
| doc/28kB IRS Credit-Counseling Investigation Advances, Strips Tax-Exempt Status From 50 Percent of Industry |
(PRWEB) January 23, 2006 -- Following the IRS’ announcement that it is revoking the tax-exempt status of credit-counseling firms responsible for 50 percent of the industry’s revenue, consumers with unmanageable debt face an increasingly arduous course | 2/6/2006 |
| doc/32kB The Impact of Bankruptcy Reform on the Automatic Stay |
Opinions written by the bankruptcy courts about the impact of bankruptcy reform on the automatic stay have been published in record time since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) became fully effective on October 1 | 2/6/2006 |
 pdf/41kBMichigan Chapter 13 Plan |
Egregious Chapter 13 Plan Provisions | 2/6/2006 |
| doc/24kB US Supreme Court |
The United States Supreme Court held 5-4 (opinion by Stevens; dissent by Thomas) that a state agencies' sovereign immunity does not bar a chapter | 1/30/2006 |
| doc/24kB WILL BAPCPA MAKE PEOPLE RELUCTANT TO START BUSINESSES? |
Most of BAPCPA's rules went into effect on Oct. 17 and may have an impact on how much risk entrepreneurs are willing to take. | 1/30/2006 |
| doc/24kB CHAPTER 13 PLAN PAYMENT |
Read literally, the Bankruptcy Code as amended by BAPCPA provides that the "disposable income" as calculated pursuant to Code § 1325(b) equates with the plan payment. | 1/30/2006 |
| doc/24kB Car Payments |
The NACBA amicus group, led by Tara Twomey, has been hard at work. A second model brief is being been posted on the members-only part of the NACBA web site. | 1/30/2006 |
| pdf/65kB MBNA |
MBNA Statement Re Credit Counseling Standards | 1/25/2006 |
| doc/24kB The Large Prepetitiion Retainer Fee |
BAPCPA imposes a number of additional postpetition tasks for the attorney to perform. | 1/3/2006 |
| doc/24kB Accruing Postpetition Interest on some Unsecured Claims |
Under pre-reform law the reason that after the chapter 13 discharge the debtor was not required to pay a claim for accrued post petition interest on claims such as priority taxes, is that under former law there was no exception from discharge for taxes, i | 12/27/2005 |
| doc/23kB Filing Fees to Rise |
In late December 2005 Congress passed the Budget Reconciliation Act that, among other things, will raise the filing fees for bankruptcy cases upon signature by the President. The increases will be IN ADDITION TO the fee increases already imposed by BAPCPA | 12/27/2005 |
| doc/26kB FORM 870 No Longer Constitutes a Tax Return for Discharge Purposes |
IRS Notice CC-2006-002, dated November 22, from the Office of Chief, provides the IRS's position in contesting the dischargeability of a tax debt in bankruptcy on the basis that no return was filed, when a taxpayer has signed and submitted a Form 870, Wai | 12/12/2005 |
| doc/24kB HELD-Notice to Extend Stay Must Be Served Properly |
In In re Collins, __ B.R. __, 2005 WL 3163962 (Bankr. D. Minn. 11/29/05), a Minnesota bankruptcy court has confirmed that a motion to extend the automatic stay and avoid termination pursuant to 11 U.S.C. 362(c)(3) must be served on all affected creditors. | 12/12/2005 |
| doc/26kB HELD-Credit Counseling Cert. Necessary |
The court in In re Sukmungsa, __ B.R. __, 2005 WL 3160607 (Bankr. D. Utah 11/23/05) rejected an more effort to sidestep the credit counseling requirements. In Sukmungsa, the debtor tried under Fed.R.Civ.P. 60(b), made applicable by Fed.R.Bankr.P. 9024, to | 12/12/2005 |
| doc/24kB Certificate Necessary or the Case May be Dismissed |
Some lawyers may assume that even though a client has satisfied the requirement for pre-petition credit counseling, the certificate of completion does not necessarily have to be filed at the same time as the petition. | 12/12/2005 |
 Web Link |
OBTAIN TRANSCRIPTS OF RETURNS IN 24 - 48 HOURS | 11/29/2005 |
| Web Link |
NOTICE OF DOMESTIC SUPPORT AGENCIES | 11/29/2005 |
| Web Link |
LISTING OF CHAPTER 13 ADMINISTRATIVE EXPENSE % | 11/29/2005 |
| Web Link |
NEWS AND UPDATES ABOUT THE REFORM ACT | 11/29/2005 |
| Web Link |
LIST OF APPROVED FINANCIAL MANAGEMENT COURSE AGENCIES | 11/29/2005 |
| Web Link |
LIST OF APPROVED CREDIT COUNSELING AGENCIES | 11/29/2005 |
| Web Link |
NEW AND REVISED BANKRUPTCY FORMS | 11/29/2005 |
| Web Link |
INTERIM OFFICIAL RULES | 11/29/2005 |
| Web Link |
CENSUS FIGURES FOR MEDIAN INCOMES | 11/29/2005 |
| doc/25kB Morgan Stanley taking bankruptcy hit |
Shares of Morgan Stanley fell $1.38, or 2.5%, to close at $53.03 Tuesday after the company said that it expects to take up to $250 million in charges on a rash of bankruptcy filings stemming from a change in the law. | 11/28/2005 |
| doc/24kB COURT DECLARES ATTORNEYS ARE DRA's |
BK Judge Hodges in WDNC denied a request for declaration that the Debt Relief Provisions of BK Refom are invalid as applied to attorneys | 11/28/2005 |
| doc/30kB DC Bankruptcy Court Rejects Deepening Insolvency Claims as Duplicative |
The Bankruptcy Court for the District of Columbia has released about 16 opinions for publication this year, and five of them have related to the litigation spawned by the Greater Southwest Community Hospital Corp. ("GSCH") bankruptcy. | 11/22/2005 |
| doc/26kB LAW FIRM FILES SUIT TO THROW OUT THE REFORM ACT |
LAW FIRM FILES SUIT TO THROW OUT THE REFORM ACT | 11/22/2005 |
| doc/26kB MIDDLE-CLASS CREDIT CRISIS PENDING? |
MIDDLE-CLASS CREDIT CRISIS PENDING? | 11/22/2005 |
| doc/24kB Controversy |
Controversy | 11/22/2005 |
| doc/24kB On Second Thought |
On Second Thought | 11/22/2005 |
| doc/26kB Notable Reported Cases for week ending 11 |
Notable Reported Cases for week ending 11 | 11/22/2005 |
| doc/26kB Chapter 7 Trustees seek higher compensation. |
Chapter 7 Trustees seek higher compensation. | 11/22/2005 |
| doc/30kB Illinois Bankruptcy Court Opinion On The Automatic Stay |
Illinois Bankruptcy Court Addresses Circuits' Split Regarding a State Court's Jurisdiction Over the Automatic Stay's Applicability and a Debtor's Right to Unilaterally Waive the Automatic Stay's Protections | 11/13/2005 |
| doc/25kB TRAP FOR THE UNWARY |
DEFECTIVE ADDRESS RELEASES CREDITOR FROM DAMAGES FOR VIOLATION OF THE STAY | 11/13/2005 |
| doc/28kB BK Financial Management Deadline |
NEW RULES PROVIDE THAT FINANCIAL MANAGEMENT COURSE MUST BE COMPLETED WITHIN 45 DAYS OF MEETING OF CREDITORS | 11/8/2005 |
| doc/29kB BK Conversion |
Bankruptcy Code section 706(a) does not confer an "absolute" right to a debtor to convert Chapter 7 proceedings to Chapter 13. | 11/8/2005 |
| doc/30kB BK CLE Program |
ONLINE CLE PROGRAM ON THE REFORM ACT | 11/8/2005 |
| doc/28kB BK Attorney Filings |
CONSUMER BANKRUPTCY LAWYERS FILINGS SHOW THEY ARE IGNORANT OF REFORM ACT! | 11/8/2005 |
| pdf/460kB BAPCPA Effects |
Major Consumer Bankruptcy Effects of the 2005 Reform Legislation | 11/8/2005 |
| doc/28kB Back Taxes |
PRIVATE COLLECTION AGENCIES GO AFTER BACK TAXES | 11/8/2005 |
| /B Bankruptcy Litigation Blog |
BAPCPA Current Updates | 10/31/2005 |
| pdf/399kB ABA Announcement |
American Bar Association Report On Attorney Liability Under 707(b)(4) Of The BAPCPA. | 10/31/2005 |
| pdf/19kB U.S. Trustee Notice Regarding Hurricane Katrina |
U.S. Trustee Program Announces Approval Of Credit Counseling Agencies For Bankruptcy Filers And Waiver Of Credit Counseling Requirement In Areas Affected By Hurricane Katrina | 10/31/2005 |
| doc/25kB Bankruptcy Bubble's Size Surprises Banks |
Bankruptcy filings were supposed to snowball in the months before the tough new law went into effect on Oct. 17. | 10/26/2005 |
| doc/74kB North Carolina Motion of Debtors on Debt Relief Agency Provisions |
MOTION OF DEBTORS FOR DECLARATION THAT THE DEBT RELIEF AGENCY PROVISIONS OF THE BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2005 ARE INVALID AS APPLIED TO DULY ADMITTED MEMBERS OF THE BAR PRACTICING BEFORE THE UNITED STATES BANKRUPTCY COURT | 10/26/2005 |
| pdf/684kB Interim Bankruptcy Rules |
Interim Bankruptcy Rules Approved By The Advisory Committee On Bankruptcy Rules And The Committee On Rules Of Practice And Procedure Of The Judicial Conference Of The United States In August 2005. | 10/25/2005 |
| Web Link BAPCPA Approved Credit Counseling Agencies |
Access a List of Credit Counseling Agencies Approved Pursuant to 11 U.S.C. § 111 at http://www.usdoj.gov/ust/bapcpa/ccde/cc_approved.htm. | 10/25/2005 |
| pdf/527kB JUDGE RULES ATTORNEYS ARE NOT “DEBT RELIEF AGENCIES” |
Order on October 17, 2005, declaring that attorneys are not "debt relief agencies" under new Code §§ 101(12A), 526, 278 and 528. | 10/24/2005 |
| pdf/3MB ANNUAL CONFERENCE OF BANKRUPTCY JUDGES SET |
The annual conference of the National Conference of Bankruptcy Judges (NCBJ) will take place on November 2-5 in San Antonio, Texas. For information go to - http://www.ncbj.org | 10/24/2005 |
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