Podcasts about bankruptcy abuse prevention

bankruptcy. In the United States, bankruptcy is largely governed by federal law, commonly referred to as the "Bankruptcy Code" ("Code"). The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States". Congress has exercised this authority several times since 1801, including through adoption of the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Some laws relevant to bankruptcy are found in other parts of the United States Code. For example, bankruptcy crimes are found in Title 18 of the United States Code (Crimes). Tax implications of bankruptcy are found in Title 26 of the United States Code (Internal Revenue Code), and the creation and jurisdiction of bankruptcy courts are found in Title 28 of the United States Code (Judiciary and Judicial procedure). Bankruptcy cases are filed in United States bankruptcy court (units of the United States District Courts), and federal law governs procedure in bankruptcy cases. However, state laws are often applied to determine how bankruptcy affects the property rights of debtors. For example, laws governing the validity of liens or rules protecting certain property from creditors (known as exemptions), may derive from state law or federal law. Because state law plays a major role in many bankruptcy cases, it is often unwise to generalize some bankruptcy issues across state lines. History. Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, which was repealed in 1803; the Act of 1841, which was repealed in 1843; and the Act of 1867, which was amended in 1874 and repealed in 1878. The first more lasting federal bankruptcy law, sometimes called the "Nelson Act", initially entered into force in 1898. The current Bankruptcy Code was enacted in 1978 by § 101 of the Bankruptcy Reform Act of 1978, and generally became effective on October 1, 1979; it completely replaced the former bankruptcy law, the "Chandler Act" of 1938, which had given unprecedented power to the Securities and Exchange Commission for the regulation of bankruptcy filings. The current code has been amended numerous times since 1978. See also the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Chapters of the Bankruptcy Code. Entities seeking relief under the Bankruptcy Code may file a petition for relief under a number of different chapters of the Code, depending on circumstances. Title 11 contains nine chapters, six of which provide for the filing of a petition. The other three chapters provide rules governing bankruptcy cases in general. A case is typically referred to by the chapter under which the petition is filed. These chapters are described below. Chapter 7: Liquidation. Liquidation under a Chapter 7 filing is the most common form of bankruptcy. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Because all states allow for debtors to keep essential property, Chapter 7 cases are often "no asset" cases, meaning that the bankrupt estate has no non-exempt assets to fund a distribution to creditors. Chapter 7 bankruptcy remains on a bankruptcy filer's credit report for 10 years. United States bankruptcy law significantly changed in 2005 with the passage of Bankruptcy Abuse Prevention and Consumer Protection Act (US) —- BAPCPA, which made it more difficult for consumer debtors to file bankruptcy in general and Chapter 7 in particular. --- Send in a voice message: https://podcasters.spotify.com/pod/show/law-school/message Support this podcast: https://podcasters.spotify.com/pod/show/law-school/support

Wednesday September 28, 2022 - United States Senator Elizabeth Warren and House Judiciary Committee Chairman Jerrold Nadler re-introduced the Consumer Bankruptcy Reform Act (CBRA). Both of these sponsored the same, or similar, bill in 2020. You might be thinking, "didn't Congress revamp the Bankruptcy Code with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)? The answer is, yes. Yes they did. But, in 2005, Congress was controlled by Republicans. The CBRA will have Democrat issues addressed. Like, addressing racial and gender disparities in the bankruptcy system. Whatever that means. The Act will also close loopholes that allow the wealthy to exploit the bankruptcy system. Again, whatever that means. But, the biggest change would be allowing Debtors to discharge student loans in bankruptcy. Something that is very difficult to do under the current rules. Warren and Nadler have historically supported the most extreme versions of bills. So, expect CBRA to give much to Democrat constituents and hit the middle class in the pocketbook. Attorney Steven A. Leahy looks at the Consumer Bankruptcy Reform Act of 2022 on Today's Tax Talk. https://www.warren.senate.gov/newsroom/press-releases/senator-warren-and-representative-nadler-reintroduce-the-consumer-bankruptcy-reform-act https://www.cbsnews.com/news/elizabeth-warren-bill-student-loans-college-debt-bankruptcy-reform/ https://www.congress.gov/bill/116th-congress/senate-bill/4991 --- Send in a voice message: https://anchor.fm/steven-leahy1/message

Episode 92: Let’s talk about centrism, the election, the records of Joe Biden and Kamala Harris, anti-activism within the democratic party, and the future of politics.Hidden History Patreon: https://www.patreon.com/hiddenhistorypodSourcesS.256 - Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: https://rb.gy/8d8li4The Crime-Bill Debate Shows How Short Americans’ Memories Are: https://rb.gy/ezxnay‘Lock the S.O.B.s Up’: Joe Biden and the Era of Mass Incarceration: https://rb.gy/rolfalKamala Harris laughed about jailing parents over truancy. But it's not funny: https://rb.gy/ddljovThe Story Behind Kamala Harris' Truancy Program: https://rb.gy/rfobwoKamala Harris Is Being Ripped for Past Stand Against the Trans Community: https://rb.gy/ttqpwsHow Kamala Harris' death penalty decisions broke hearts on both sides: https://rb.gy/32klfsFive times prosecutor Kamala Harris got the wrong guy: https://rb.gy/tyzkjaKamala Harris’ A.G. Office Tried to Keep Inmates Locked Up for Cheap Labor: https://rb.gy/urzzkmJoe Biden: America Needs the Republican Party: https://rb.gy/rudvdySen. Mitt Romney (R) Utah won't say whether he voted for Joe Biden: "That's in the rearview mirror: https://rb.gy/29d3juSpanberger criticizes Democrats' strategy in caucus call: https://rb.gy/g84nhg

From the Patriot Act to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 to the Violent Crime Control and Law Enforcement Act of 1994 to the 3 million immigrants deported from the years 2008 to 2016 to the over 300,000 lives lost in war to the opposition of same-sex marriage to the 1033 program to the lack of an effective plan against climate change to die-hard belief in gun confiscation to the obvious case of dementia and to so much more, it's really difficult to argue that Joe Biden is an upgrade from our current administration. Biden isn't worse, but he isn't better either.

Members of ABI's Commission on Consumer Bankruptcy discuss the recommendations in the Final Report focused on the Code's credit counseling and financial management course requirements, and means test provisions. The Commission's recommendations address provisions established by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) that made obtaining the financial fresh start of bankruptcy more challenging for consumer debtors. Bankruptcy Judge (ret.) Randall Dunn moderates the discussion with John Rao of the National Consumer Law Center, Ariane Holtschlag of the Law Office of William J. Factor, Ltd. and Wendell Sherk of SkerkLaw.

Our newest Bond and Botes' law office, Bond, Botes & Wetzel, P.C., is now open in Mobile, Alabama! We are fortunate to have our former law partner, Melissa Wetzel, back with us. Even better, our prospective clients on the Gulf Coast will be very fortunate to have Melissa on their side!   I am reminded of my advancing age, unfortunately all too often, by my long term friends, Brad Botes and Greg Gunter. They have known me for a long time and my age came into clear focus, once again, while talking to Melissa on this podcast. Melissa reminded me that we both initially joined the Bond and Botes' team of lawyers in the early 1990's. Melissa started our Montgomery office and then moved south to start and run our Mobile office. We ended up closing our Mobile office after October 17, 2005 which is when the biggest change in over 100 years occurred in bankruptcy law. "Affectionately" referred to as "BAPCPA," the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005changed everything about consumer bankruptcy. In our estimation and experience, all this change did was to make bankruptcy more complicated and expensive for the average consumer. As an aside, it wasn't even necessary and the law was changed for different reasons entirely. That, however, is a topic for another time!

In this episode, Pamela Foohey, Associate Professor of Law at Indiana University Bloomington Maurer School of Law, discusses her paper "Life in the Sweatbox," co-authored with Robert M. Lawless, Katherine M. Porter, and Deborah Thorne, which will appear in the Notre Dame Law Review. Foohey explains how the the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act resulted in consumers spending ever-longer amounts of time in the "financial sweatbox," or the period of time before an inevitable bankruptcy filing, during which their assets are further depleted and their quality of life is destroyed. She and her co-authors used data from the data from the Consumer Bankruptcy Project as well as data they gathered to learn who files for bankruptcy and why. They found that the narratives surrounding the use of consumer bankruptcy are largely inaccurate, and have resulted in inefficient policies that cause great harm to many consumers. Foohey is on Twitter at @PamelaFoohey.Keywords: consumer bankruptcy, debt collection, debt, chapter 7, chapter 13, financial distress See acast.com/privacy for privacy and opt-out information.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) made major revisions to the Bankruptcy Code.  In this week's episode of The Crushing Debt Podcast, we talk about one of the more sweeping changes - the Means Test. The means test is complicated and there is an art and a science to completing the information.  The means test is important because it helps determine whether someone can file Chapter 7 (Liquidation) or Chapter 13 (reorganization). If you have questions about bankruptcy, or the means test, or whether you qualify for Chapter 7 or 13, please contact me at Shawn@YesnerLaw.com or www.YesnerLaw.com. 

The latest ABI Podcast features ABI Executive Director Sam Gerdano speaking with Foteini Teloni of Shearman & Sterling LLP (New York) about whether the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) forces debtors to exit chapter 11 before they are truly rehabilitated. Teloni, previously an Adjunct Professor of Law at Fordham University School of Law, authored "Chapter 11 Duration, Pre-Planned Cases, and Refiling Rates: An Empirical Analysis in the Post-BAPCPA Era" appearing in the Summer 2015 ABI Law Review.

Taking a Closer Look at How Unsecured Creditor Recoveries Decreased Post-BAPCPA The latest ABI Podcast features ABI Resident Scholar Kara Bruce speaking with Prof. Lois Lupica of the University of Maine School of Law, who was the reporter and principal investigator for "The Consumer Bankruptcy Creditor Distribution Study" funded by the ABI Endowment. Lupica, who also authored the ABI Endowment-funded Consumer Bankruptcy Fee Study in 2011, talks about the results of the new study, which found that creditor returns in consumer bankruptcy proceedings have been less effective since the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).

What is BAPCA?      On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act became law, and the processes for filing for bankruptcy changed dramatically.  This podcast is just a brief introduction to the adoption of BAPCA, and begins a short series of looking at what changes were implemented with the legislation.