The term debt relief agency appears in a legal context for the first time in bankruptcy law in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 [The Act]. The first chapter of this new bankruptcy reform law can be found at Title 11 U.S.C. 101. This is the General Provisions chapter and it [...]
bankruptcy abuse prevention and consumer protection act
We all know that individual tax returns are due on April 15 (or a day or two later if April 15 is on a weekend). But Congress inserted a little tax time craziness into sections 1308 and 1307 of the new and drastically unimproved Bankruptcy Code of 2005. Section 1308(a) states: (a) Not later than [...]
The debtor education course. It’s the second course required by the Bankruptcy Code–the ticket out of bankruptcy, at least if the debtor wants his discharge. I confess I’ve always wondered what my clients thought of the course. Calling it a “course” is a bit much. It only takes an hour or two, and there’s not [...]
I wrote about attorney fees as a means test deduction some time ago. BAPCPA’s provision, codified at section 707(a)(2)(A)(iv) of the Bankruptcy Code, says that priority claims are deducted from income. Priority claims include a Chapter 13 debtor’s counsel’s fees. See sections 507(2), 503(b)(2), and 330(a)(4)(B). Therefore, our attorney fees are a means test deduction. Oddly, the [...]
The Bankruptcy Code mandates that the debtor take a credit counseling course within 180 days prior to filing bankruptcy. The course is one of the many useless hoops debtors must jump through prior to filing their bankruptcy petition. If you really want to avoid bankruptcy, this “course” is not helpful I, like any other [...]
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