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Creditors in the consumer credit industry face many challenges in managing bankrupt accounts. Five components to the successful management of bankruptcy cases are:

It happens every Friday afternoon, usually around 2 p.m.

When an irate creditor comes to bankruptcy court in a chapter 7, 12 or 11 case in which an individual debtor is holding a check issued by the debtor that was dishonored by the debtor’s bank, she often expects a quick and easy finding that the debt is not dischargeable.

Randolph vs. IMBS Inc. et al. 368 F.3d 726 (7th Cir. 2004)

An issue receiving much recent attention in the courts and among commentators is the nature and extent of the documentation required to be attached to proofs of unsecured claims based on credit card debt. Several courts have recently considered the issue in decisions reflecting mixed results.

Creditors have always feared states with large homestead protections.

In re Maronde, 332 B.R. 593 (Bankr. D. Minn. 2005), (N. Dreher), is a recent decision that interprets and discusses new §522(o) of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).

A chapter 7 debtor seeking to retain personal property secured by a lien has several options available, one of which is redeeming the property from the lien pursuant to §722 of the Bankruptcy Code.

The Supreme Court held that the discharge of a student loan debt, as an exercise of the bankruptcy court’s in rem jurisdiction, does not infringe the state’s sovereign immunity. The court did not address the underlying issue as to abrogation of the state's sovereign immunity from private suits under §106(a) of the Bankruptcy Code.

The Supreme Court, apparently without resort to a calculator, decided the cramdown interest issue by employing a formula approach.