Bankruptcy Abuse Prevention and Consumer Protection Act

Bankruptcy filings down in 2011

Published: February 9, 2012

Tags: Bankruptcy, Bankruptcy Abuse Prevention and Consumer Protection Act

WASHINGTON – The number of new bankruptcy filings fell during the 2011 calendar year.

Bankruptcy filings fall for first time since abuse act of 2005

By: Kimberly Atkins
Published: November 16, 2011

Tags: Administrative Office of the U.S. Courts, Bankruptcy Abuse Prevention and Consumer Protection Act, bankruptcy filings

WASHINGTON – The number of bankruptcy cases filed in fiscal 2011, the 12-month period that ended in September, dropped 8 percent over the year before – the first decline since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 took effect.

Judgment creditor’s lien on homestead unenforceable

Published: October 7, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, homestead exemption, lien

A judgment creditor did not have an enforceable lien against the proceeds of the sale of a debtor’s home in excess of the $125,000 homestead exemption claimed in the debtor’s bankruptcy case, the 5th Circuit has ruled in reversing judgment.

Debtor met deadline for assuming lease in bankruptcy

Published: October 3, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act

A debtor met the bankruptcy deadline for assuming a nonresidential real property lease by filing a motion to assume the lease within the allotted time, the 6th Circuit Bankruptcy Appellate Panel has ruled in affirming judgment.

Poverty guidelines posted for waiver of bankruptcy fees

Published: May 19, 2011

Tags: Administrative Office of the U.S. Courts, Bankruptcy Abuse Prevention and Consumer Protection Act, Bankruptcy Code, BAPCPA, CHAPTER 13, Chapter 7, filing fees, Poverty Guidelines

The office overseeing the federal judiciary has posted new poverty guidelines for the waiver of filing fees in certain bankruptcy cases.

Bankruptcy case could be dismissed for ‘abuse’

Published: May 4, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, Chapter 7

A Chapter 7 case could be dismissed based on evidence that the debtors had adequate resources to pay their debts and otherwise were abusing the bankruptcy process, the 4th Circuit has ruled in affirming judgment.

Bankruptcy filings continue rise, but at slower rate

By: Kimberly Atkins
Published: February 21, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, bankruptcy filings

WASHINGTON – Continuing a five-year upward trend, bankruptcy filings rose 8 percent in calendar year 2010 according to recent data from the Administrative Office of the U.S. Courts.

Bankruptcy Act’s ‘income test’ creates split in courts

By: Correy Stephenson
Published: February 18, 2011

Tags: above-median debtors, Bankruptcy Abuse Prevention and Consumer Protection Act, BAPCPA, CHAPTER 13, National Consumer Law Center, projected disposable income test

It’s been six years since the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act, and courts across the country continue to struggle with the application of the “projected disposable income test.”

Bankruptcy repayment plan has minimum duration

By: Pat Murphy
Published: February 7, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, CHAPTER 13

A Chapter 13 bankruptcy plan involving “above median” debtors could not be approved without providing for the payment of unsecured claims for a minimum period of 60 months, the 6th Circuit has ruled.

Court’s bankruptcy decision will require ‘creative strategies’

By: Correy Stephenson
Published: January 14, 2011

Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, BAPCPA, CHAPTER 13, means test, NACBA, National Association of Consumer Bankruptcy Attorneys, Supreme Court

Justice Elena Kagan’s first opinion as a member of the U.S. Supreme Court limited the ability of debtors to take a key deduction and will require strategic planning by bankruptcy practitioners to limit its impact.