Questions concerning what relief the Bankruptcy Code affords to persons seeking to discharge their government-related student loans are, in all likelihood, a common topic of discussion between most potential debtors and their bankruptcy cou…
In October 1991, the fishing boat Andrea Gail and her six-man crew were headed to the fertile fishing grounds of the North Atlantic seeking the "big catch." Focused on the catch and the cash, the crew was unaware that three different storms…
The provisions of 11 U.S.C. §1327(a) clearly state: The provisions of a confirmed plan bind the debtor and each creditor, whether or not the claim of such creditor is provided for by the plan, and whether or not such creditor has objected t…
Self-insured retentions (SIRs) and deductibles serve the same purpose, allotting a portion of the risk to the insured. The method chosen has a distinct impact on the insurer's obligations and also impacts determining creditor status when an…
Consumer protection laws regulating debt collection practices are a complex minefield of potential liability for creditors and other debt collectors. Large damage awards, provisions for recovery of attorneys' fees and increased awareness an…
Last month, we looked at the history of Rousey v. Jacoway and began to consider the arguments of the debtors, the trustee and the amicus in light of the Third Circuit's decision in Clark v. O'Neill ( In re Clark), 711 F.2d 21 (3d Cir. 1983)…
The Tenth Circuit Bankruptcy Appellate Panel's (BAP) recent decision in In re Mersmann, 318 B.R. 537 (10th BAP 2004), underscores the continuing tension between chapter 13 plan provisions discharging student loans, and implies that such dis…
In the past, traditional mortgage lenders automatically rejected people who had declared personal bankruptcy. Many potential homebuyers felt they must wait at least seven to 10 years after a bankruptcy to be eligible to become homeowners. M…
In late 2004, the U.S. Trustee Program (USTP) adopted a strategic plan 1 for 2005-10 that encompasses several critical goals: (1) protecting the integrity of the bankruptcy system, (2) promoting the effectiveness and efficiency of the syste…
From time to time in this column we have reported on general trends in chapter 13 case administration. Here, we present an update through the end of September 2003 (FY 2003). 1 Table 1 displays the numbers of chapter 13 filings and the amou…