Lawyers USA Online » Bankruptcy Abuse Prevention and Consumer Protection Act http://lawyersusaonline.com Your Business Partner Wed, 22 May 2013 20:39:49 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Chapter 13 plan satisfied ‘good faith’ standard  http://lawyersusaonline.com/blog/2013/04/01/chapter-13-plan-satisfied-good-faith-standard/ http://lawyersusaonline.com/blog/2013/04/01/chapter-13-plan-satisfied-good-faith-standard/#comments Mon, 01 Apr 2013 18:15:20 +0000 Pat Murphy http://lawyersusaonline.com/?p=92171 The Bankruptcy Abuse Prevention and Consumer Protection Act prohibited the consideration of debtors’ Social Security income in determining whether their Chapter 13 plan was proposed in good faith, the 9th U.S. Circuit of Appeals has ruled in affirming judgment.

The case involved a husband and wife who are “above median”
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2013/04/01/chapter-13-plan-satisfied-good-faith-standard/feed/ 0 Chapter 11 debtors subject to ‘absolute priority rule’  http://lawyersusaonline.com/blog/2013/01/18/chapter-11-debtors-subject-to-absolute-priority-rule/ http://lawyersusaonline.com/blog/2013/01/18/chapter-11-debtors-subject-to-absolute-priority-rule/#comments Fri, 18 Jan 2013 17:53:28 +0000 Pat Murphy http://lawyersusaonline.com/?p=90690 The 2005 amendments to the Bankruptcy Code did not exempt individual Chapter 11 debtors from the application of the absolute priority rule, the 10th Circuit has ruled in reversing judgment.

The absolute priority rule bars junior claimants, including debtors, from retaining any interest in property when a dissenting class of
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2013/01/18/chapter-11-debtors-subject-to-absolute-priority-rule/feed/ 0 Divorce obligation can’t be discharged in bankruptcy  http://lawyersusaonline.com/blog/2013/01/02/divorce-obligation-cant-be-discharged-in-bankruptcy/ http://lawyersusaonline.com/blog/2013/01/02/divorce-obligation-cant-be-discharged-in-bankruptcy/#comments Wed, 02 Jan 2013 19:23:34 +0000 Pat Murphy http://lawyersusaonline.com/?p=90319 A divorced man’s obligation to pay off a marital debt in the form of a line of credit was not discharged in his bankruptcy case, the Missouri Court of Appeals has ruled in reversing judgment.

At the time of the divorce, the parties owed $18,400 on a U.S. Bank line
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2013/01/02/divorce-obligation-cant-be-discharged-in-bankruptcy/feed/ 0 Chapter 7 case dismissed for ‘abuse’  http://lawyersusaonline.com/blog/2012/12/17/chapter-7-case-dismissed-for-abuse/ http://lawyersusaonline.com/blog/2012/12/17/chapter-7-case-dismissed-for-abuse/#comments Mon, 17 Dec 2012 19:12:56 +0000 Pat Murphy http://lawyersusaonline.com/?p=89954 Chapter 7 debtors could have their case dismissed based on a finding that they “abused” the process by attempting to retain certain luxury items they could have sold to help satisfy their debts, the 11th Circuit has ruled in affirming judgment.

The debtors are married. After they filed for Chapter
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/12/17/chapter-7-case-dismissed-for-abuse/feed/ 0 Divorce obligation wasn’t discharged in bankruptcy  http://lawyersusaonline.com/blog/2012/12/11/divorce-obligation-wasnt-discharged-in-bankruptcy/ http://lawyersusaonline.com/blog/2012/12/11/divorce-obligation-wasnt-discharged-in-bankruptcy/#comments Tue, 11 Dec 2012 18:11:34 +0000 Pat Murphy http://lawyersusaonline.com/?p=89847 A divorced woman’s obligation to pay 50 percent of her ex-husband’s federal income taxes was not discharged in her Chapter 7 case, the New Hampshire Supreme Court has ruled in reversing judgment.

The parties divorced in 2007. The divorce decree required the wife to pay 50 percent of the husband’s
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/12/11/divorce-obligation-wasnt-discharged-in-bankruptcy/feed/ 0 Debtor’s kids didn’t count as full ‘household’ members  http://lawyersusaonline.com/blog/2012/07/13/debtors-kids-didnt-count-as-full-household-members/ http://lawyersusaonline.com/blog/2012/07/13/debtors-kids-didnt-count-as-full-household-members/#comments Fri, 13 Jul 2012 15:33:45 +0000 Pat Murphy http://lawyersusaonline.com/?p=85990 A debtor could not count each of her children and step-children as full members of her “household” when calculating her disposable income under the Bankruptcy Abuse Prevention and Consumer Protection Act, the 4th Circuit has ruled.

Under the Act, the calculation of a Chapter 13 debtor’s projected disposable income takes
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/07/13/debtors-kids-didnt-count-as-full-household-members/feed/ 0 ‘Absolute priority’ survived bankruptcy reform  http://lawyersusaonline.com/blog/2012/06/21/absolute-priority-survived-bankruptcy-reform/ http://lawyersusaonline.com/blog/2012/06/21/absolute-priority-survived-bankruptcy-reform/#comments Thu, 21 Jun 2012 15:08:43 +0000 Pat Murphy http://lawyersusaonline.com/?p=85389 The latest reform of the Bankruptcy Code did not eliminate the long-standing rule protecting dissenting creditors when there’s a “cram down” under the Chapter 11 plan of an individual debtor in possession, the 4th Circuit has ruled in affirming judgment.

The so-called “absolute priority rule” predates the Bankruptcy Abuse Prevention
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/06/21/absolute-priority-survived-bankruptcy-reform/feed/ 0 Debtor understated projected disposable income  http://lawyersusaonline.com/blog/2012/03/09/debtor-understated-projected-disposable-income/ http://lawyersusaonline.com/blog/2012/03/09/debtor-understated-projected-disposable-income/#comments Fri, 09 Mar 2012 16:01:53 +0000 Pat Murphy http://lawyersusaonline.com/blog/2012/03/09/debtor-understated-projected-disposable-income/ A Chapter 13 debtor’s projected disposable income should not have been reduced by monthly installment payments that she in fact would not be making, the 4th Circuit has ruled in reversing judgment.

The debtor listed two all-terrain vehicles as personal property in her bankruptcy. She was obligated to make monthly
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/03/09/debtor-understated-projected-disposable-income/feed/ 0 Bankruptcy filings down in 2011  http://lawyersusaonline.com/blog/2012/02/09/bankruptcy-filings-down-in-2011/ http://lawyersusaonline.com/blog/2012/02/09/bankruptcy-filings-down-in-2011/#comments Thu, 09 Feb 2012 18:09:27 +0000 Kimberly Atkins http://lawyersusaonline.com/blog/2012/02/09/bankruptcy-filings-down-in-2011/ WASHINGTON – The number of new bankruptcy filings fell during the 2011 calendar year.

Though quarterly data released in November showed the first drop in filings since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 took effect, the latest
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2012/02/09/bankruptcy-filings-down-in-2011/feed/ 0 Bankruptcy filings fall for first time since abuse act of 2005  http://lawyersusaonline.com/blog/2011/11/16/bankruptcy-filings-fall-for-first-time-in-six-years/ http://lawyersusaonline.com/blog/2011/11/16/bankruptcy-filings-fall-for-first-time-in-six-years/#comments Wed, 16 Nov 2011 12:47:57 +0000 Kimberly Atkins http://lawyersusaonline.com/blog/2011/11/16/bankruptcy-filings-fall-for-first-time-in-six-years/ 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
» Continue Reading.

]]> http://lawyersusaonline.com/blog/2011/11/16/bankruptcy-filings-fall-for-first-time-in-six-years/feed/ 0