New Mexico Bankruptcy Court Announces New Policy

10 Jun New Mexico Bankruptcy Court Announces New Policy

The United States Bankruptcy Court, District of New Mexico issued a new policy yesterday, that will become effective August 1, 2010. It changes the local practice for requirements on Debtors’ Counsel concerning reaffirmations being proposed to the Court for approval. Attorneys commonly took no position on such agreements before, leaving that between the Debtors and the Creditors. The Court will now be requiring attorney involvement in the process, and may hold attorneys in contempt of court if they fail to comply with the new policy.

More about this new policy shortly.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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