A June Supreme Court ruling disallows a scheme by individuals to use a corporate bankruptcy of their closely held business to evade individual liability for fraud, UDAP, and tort claims. This article explains the holding’s implications for consumer claims involving corporations in bankruptcy and lists 12 steps victimized consumers can take to preserve their rights when faced with a corporate bankruptcy filing.
Consumer Bankruptcy
New Rule Gives Chapter 13 Bankruptcy Debtors Credit Toward Student Loan Forgiveness
Effective July 1, a new Department of Education rule provides new relief for how a student loan borrower’s income-driven repayment plan is treated if the borrower is in a chapter 13 bankruptcy. The article explains four key new protections that the new rule will implement and provides four essential practice tips for dealing with student loans in a chapter 13 bankruptcy.
New Supreme Court Ruling: When Is a Bankruptcy Debtor on the Hook for Partner’s Fraud?
A February 22 Supreme Court ruling affects divorced or separated spouses and victims of economic abuse and coerced debt. The ruling encourages bankruptcy creditors to bring nondischargeability actions against innocent debtors based upon fraudulent actions of spouses or domestic partners. This article sets out five ways to counter such challenges and to discharge the debts in bankruptcy.
New Process to Discharge Student Loans in Bankruptcy
New federal Guidance should make it far easier to obtain a bankruptcy discharge of student loans. Completing a simple Attestation Form may lead to an agreement to settle the debtor’s undue hardship discharge proceeding. This article explains the new Guidance’s significance, scope, and limits, and then sets out in 10 steps the process to complete the Attestation Form and seek a discharge of student loans.
Effective December 1, New Rules Simplify a Consumer Bankruptcy Practice
Effective December 1, 2022, three amendments to the Bankruptcy Rules go into effect that deal with the debtor’s notice to creditors or the U.S. trustee. In general, these amendments simplify the practice of consumer bankruptcy law and this article explains each rule amendment and how it changes existing bankruptcy practice.Effective December 1, New Rules Simplify a Consumer Bankruptcy Practice
Now Available on the Digital Library: Consumer Bankruptcy Law and Practice, 13th Edition
The definitive consumer bankruptcy treatise is updated with new case law, an amendment increasing chapter 13 debt limits, new 2022 Bankruptcy Code dollar amounts, the new initial forms, rules effective December 1, 2021, and updated means test data. Learn more and read Chapter One here.
April 1 Increase of Federal Bankruptcy Exemptions, Other Dollar Amounts
Effective April 1, consumers filing bankruptcy will be able to exempt more of their equity in their homes, cars, household goods, and even retirement accounts. This article describes all the bankruptcy dollar amount changes going into effect April 1.
Bankruptcy’s Role in Alleviating Criminal Justice Debt
What Practitioners Need to Know About New Bankruptcy Rules, Effective December 1
Practice Tools in Response to Latest Supreme Court Bankruptcy Decision
A January 14, 2021, Supreme Court decision alters the practice of consumer bankruptcy law as to repossessed property. This article explains the Supreme Court’s ruling and how the consumer bankruptcy practitioner should respond to the ruling’s implications, including the use of four new sample pleadings found in NCLC’s recent digital update to our bankruptcy treatise.