Consumer Bankruptcy

Legislative Update on Student Loans and Bankruptcy

On May 19, 2019, Senator Dick Durbin introduced Senate Bill 1414, which proposes a simple solution to the ongoing question of how student loans should be handled in bankruptcy. It would strike § 523(a)(8) in its entirety from the Bankruptcy Code, thereby making any governmental or private student loan immediately dischargeable. It is unlikely that this bill will be passed in this Congress, at least not without significant amendments.

Committee Webinar - Too Much Information? Impact of the CFPB's Amended Mortgage Servicing Rules

The CFPB enacted certain changes for 2017 and 2018 which bring about fundamental changes in the practice and daily life of consumers, servicers, trustees and bankruptcy practitioners. The new rules add additional forms and heightened requirements that will affect the daily practice of anyone involved in the mortgage and lending world.

Committee Webinar - What Everyone Should Know about Chapter 12

Hear a stimulating, high energy discussion involving a debtor's attorney, a chapter 12 trustee and a bankruptcy judge sharing the special and surprising aspects of chapter 12. Learn tips to navigate the challenges and to evaluate this chapter choice. Topics covered will include farmer and fisherman bankruptcies, cramming down homes, long term amortizations, tax benefits, and eligibility requirements.

Committee Webinar - New Official Form 113 and the Conforming Amendments

The webinar will provide an overview of the National Form Plan and the opt-out compromise, as well as an update on the current status of the proposed rules. There will be a presentation about the other changes to the Federal Rules of Bankruptcy Procedure. Speakers will also lead a discussion of the requirements of Rule 3015.1 for courts choosing to opt out of the National Form Plan.

Consumer Bankruptcy December 2018

Star-Cross’d: The Tragedy of Chapter 13 and the Modern Student Loan Debtor

Student loan debt is (mostly) presumed nondischargeable under § 523(a)(8).[1] Hardship discharge of such debt has become a vanishingly probable outcome. And yet, while educational costs soar along with the accompanying debt, the chapter 13 debt limits under § 109 chug along at the rate of growth reflective of the Consumer Price Index[2] without distinction for the nature of the unsecured debt or its potential dischargeability.

Consumer Committee: 2018

Beth Stephens and Richard Cole, co-chairs of the ABI Consumer Committee this year, thank all committee members for their support and participation in 2018. The Consumer Committee has a diverse membership. It includes practitioners who represent debtors in chapter 7 and 13 cases, practitioners who represent creditors in chapter 7 and 13 cases, trustees, and even judges and academics. Whichever aspect of consumer bankruptcy interests you, we welcome your contribution. We are always seeking articles and seminar and webinar ideas.

Willful Tax Evasion and a Tale of Two Spouses

The Bankruptcy Code contemplates the filing of a joint petition to commence a bankruptcy case for a married couple under § 302(a). Such spouses enjoy the benefit of a single filing fee[1] and the convenience and cost savings of the joint administration of their case for everything from using a single docket for the two estates, compiling the filed claims against both estates and the combining of notices to each of their creditors.[2]

Consumer Bankruptcy August 2018

Consumer Bankruptcy May 2018

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