When George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”) into law in April, 2005 panic beset the bankruptcy community. Many bankruptcy lawyers feared that BAPCPA would severely limit the rights of debtors under the Bankruptcy Code. Even worse, nobody knew what impact many of BAPCPA’s new restrictive features would have on […]
Courts around the country continue to refuse Chapter 13 debtors the right to make payroll contributions into their 401(k) plans at the expense of creditors.Two recent cases have continued this trend:In re Parks, No. 11-1366 (B.A.P. 9th Cir. August 6, 2012), and In re Jenkins, No. 11-16960 (Bankr. E.D. Tenn. July 5, 2012). The rationale behind these decisions (notwithstanding a […]
In 2005 the credit card companies finally aligned all the stars to get BAPCPA passed: the Bankruptcy Abuse Prevention and Consumer Protection Act. Although BAPCPA has been roundly – and soundly – condemned as mucking up a perfectly good bankruptcy code, symbolically it rang true to the tone that most Americans believed: debtors simply had […]
(Note: much of the facts in this blog are quoted from the Wikipedia article on Elizabeth Warren) I have long admired, and will probably always admire, Elizabeth Warren. Since before my career began in 1985 as an aspiring bankruptcy lawyer (I was in law school then, to graduate in 1986) Elizabeth Warren has been a […]
