Bankruptcy

People overwhelmed with debt problems can get a fresh financial start by filing for bankruptcy relief. Bankruptcy can stop foreclosure on a house or mobile home, prevent repossession of a car or other property, stop wage garnishment or debt collection harassment, and prevent termination of utility services. After years of intense debate, Congress enacted a overhaul of the nation’s consumer bankruptcy laws, which took effect October 17, 2005.

NCLC Special Reports and Press Releases

• Report: New Burdens but Few Benefits - An Examination of the Bankruptcy Counseling and Education Requirements in Massachusetts, June 2007 PDF (454KB)
• Press Release: Bankruptcy Bill Will Erect New Bankruptcy Barriers and Reward Abusive Lenders, April 14, 2005 PDF (148KB)
• Press Release: Bankruptcy Bill’s “Truth-in-Lending” Provisions Will Obscure the Truth, March 1, 2005
• Press Release: Critique of Senate Bankruptcy Bill, February 22, 2005 PDF (270KB)
• Press Release: Responsible Consumers Driven into Default, February 22, 2005
• Report: Results of NCLC Survey of Consumer Bankruptcy Debtors

Policy Analysis

• Comments: Community Legal Services, CFA, NACBA and NCLC on Credit Counseling Requirements, April 1, 2008 PDF (51KB)
• Letter of support for S. 2636, February 14, 2008 PDF (21KB)
• Questions and Answers About the Mortgage Modification Bankruptcy Bills (H.R. 3609, S. 2136/S. 2636)
• Pending legislation to allow mortgage modifications in bankruptcy:
  
  S. 2636, the Foreclosure Prevention Act of 2008, March 3, 2008 PDF (71KB)

H.R. 3609 - Emergency Home Ownership and Mortgage Equity Protection Act of 2007

S.R. 2136 - Helping Families Save Their Homes in Bankruptcy Act of 2007

Consumer Bankruptcy Law and
Practice with CD-Rom

• Testimony of NCLC before House Judiciary Subcommittee on Administrative and Commercial Law regarding “Straightening Out the Mortgage Mess," September 25, 2007 PDF (63KB)
• Joint Call to Action for Change in Bankruptcy Laws to Help Homeowners in Foreclosure
• Memorandum: Pre-bankruptcy Credit Counseling – Fees, November 4, 2005 PDF (103KB)
• Comments: NCLC and CFA on Credit Counseling Requirements, August 31, 2005 PDF (53KB)
• Analysis: Reasons for Low- and Moderate-Income Debtors to File for Bankruptcy Now Before the Law Changes by David Yen, June 2005 PDF (36KB)
• Letter: Criticism of Bankruptcy Bill, April 11, 2005 PDF (40KB)
• Fact Sheet: Servicemembers Civil Relief Act
• Letter: NCLC Supports Servicemembers Bankruptcy Relief Amendment, February 16, 2005

Background Information and Resources

• Six Things Legal Services and Pro Bono Lawyers Should Know About the Attorney Provisions in the 2005 Act, February 2006
• Press Release: US Trustee Program Announces Approval of Credit Counseling Agencies for Bankruptcy Filers and Waiver of Credit Counseling Requirement in Areas Affected by Hurricane Katrina, October 4, 2005 PDF (19KB)
• Analysis: Repeat Filings and Automatic Stay Amendments under the 2005 Bankruptcy Act, August 2005 PDF (94KB)
• Judicial Conference of the United States Interim Procedures Regarding the Chapter 7 Fee Waiver Provisions of the Bankruptcy Abuse Prevention and
  Consumer Protection Act of 2005, August 2005
• Analysis: Means Testing and Section 707 Motions, July 8, 2005 PDF (212KB)

• Analysis: Exemptions Under 2005 Bankruptcy Act, July 8, 2005 PDF (136KB)
• Supreme Court to Decide Four Bankruptcy Cases This Term (NCLC and NACBA Amicus Briefs) (2004)
• Supreme Court Adopts "Formula Approach" On Cramdown Interest Rate and Holds State Not Immune From Student Loan Dischargeability

Consumer Information

• Bankruptcy Client Brochure (updated to reflect 2005 law changes) PDF (79KB)
• Using Credit Wisely After Bankruptcy PDF (153KB)
• Your Legal Rights During and After Bankruptcy PDF (47KB)