Contact:
Hartgen
(703) 739-0800
href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org
size='3'>BAPCPA’s MANDATORY CREDIT COUNSELING REQUIREMENT DOES NOT
APPLY TO AN INVOLUNTARY BANKRUPTCY, ACCORDING TO LATEST ABI
POLL
size='3'>January 5, 2007, Alexandria, Va.
size='3'>— A majority (69 percent) of respondents in a recent
American Bankruptcy Institute online poll agreed with a recent ruling
that the credit counseling requirement of the Bankruptcy Abuse
Prevention and Consumer Protection Act of 2005 (BAPCPA) does not apply
in the case of an involuntary bankruptcy. Fifty-seven percent of
respondents “agreed strongly” and another 12 percent
“somewhat agreed” that BAPCPA’s mandatory credit
counseling requirement does not apply to involuntary bankruptcy
cases.
Twenty-four percent disagreed
that BAPCPA’s mandatory credit counseling requirement did not
apply to involuntary bankruptcy cases. Sixteen percent of respondents
“strongly disagreed,” while eight percent “somewhat
disagreed” that the mandatory credit counseling requirement of
BAPCPA does not apply to involuntary bankruptcy cases. Eight percent did
not know or had no opinion on the issue.
The poll question is
based on a recent case (
size='3'>In re Willis A. Sadler), in which a
judge ruled that the mandatory credit counseling requirement under
§109(h) of BAPCPA only applies to situations where the debtor
voluntarily files the bankruptcy petition.
ABI members and members
of the public were welcome to submit their response to the statement:
“BAPCPA’s
mandatory credit counseling requirement does not apply in the case of an
involuntary bankruptcy.”
The latest ABI Quick Poll was open for voting from Dec. 29 - Jan.
4.
ABI’s weekly Quick Poll
is posted on ABI’s home page,
href='http://www.abiworld.org/'>
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
size='3'>http://www.abiworld.net/quickpoll/ to access the results of previous ABI Quick
Polls.
###
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dedicated to research and education on matters related to insolvency.
ABI was founded in 1982 to provide Congress and the public with unbiased
analysis of bankruptcy issues. The ABI membership includes more than
11,500 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit www.abiworld.org. For additional conference
information, visit
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>http://www.abiworld.org/conferences.html.