Effective Oct. 1, 2019, the U.S. Bankruptcy Court for the Middle District of Florida has started its student loan management program (SLM).
On Aug. 26, 2019, the Family Farmer Relief Act of 2019 (Pub. L. No: 116-51) was signed into law, substantially increasing the debt limit for agricultural producers seeking to file for relief under chapter 12. The debt limit increase — from approximately $4.3 million to $10 million — will dramatically expand chapter 12 bankruptcy eligibility at a time of turmoil for the U.S.
Through the reaffirmation process, debtors may voluntarily enter into agreements with creditors to repay otherwise-dischargeable debts. However, when a dispute arises as to whether a party has performed its end of the bargain, the question becomes whether the terms of the original agreement or the reaffirmation agreement apply.
In a chapter 13 bankruptcy, a debtor in default under a residential lease may assume the lease but the debtor’s plan must provide a cure provision for the pre-peti
On May 7, 2019, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its long-awaited Notice of Proposed Rulemaking (NPR) for debt collection. These proposals precede a final rule that will be known as Regulation F and will be the first rules issued under the tenure of Director Kathleen Kraninger.
Whether it’s a client in financial difficulty or a client pursuing the collection of assets or debts owed, insolvency issues play a prominent role for federal practitioners with commercial and general litigation practices.
On May 19, 2019, Senator Dick Durbin introduced Senate Bill 1414, which proposes a simple solution to the ongoing question of how student loans should be handled in bankruptcy. It would strike § 523(a)(8) in its entirety from the Bankruptcy Code, thereby making any governmental or private student loan immediately dischargeable.
Editor’s Note: The following article, “The Bankruptcy Code’s Disservice to Those Who Served” won the prize for third place in the 11th Annual ABI Bankruptcy Law Student Writing Competition. Mr. Jonathan S. Glover is a third year student at Stetson University College Of Law in Gulfport, Florida. Thank you to Jenner & Block for sponsoring this prize.
A split among courts continues to persist with respect to the statutory interpretation of 11 U.S.C. § 1325(a)(5)’s equal-monthly-payment provision and the prioritization of payments of the debtor’s attorney’s fees pursuant to 11 U.S.C. § 1326(b)(1).
It often comes as an unwelcome surprise when debtors discover that they cannot force a creditor to take something back that the debtors no longer want, no longer use and no longer intend to pay for.
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