Bankruptcy Basics: Reducing Your Losses

Discover what you need to know about the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Written by credit union attorney Alan Stabler, this book tells you what’s included in the revised code and provides a summary of the most important changes. You’ll learn how to protect the credit union’s interest and do what’s best for your members.

Bankruptcy Basics: Reducing Your Losses focuses mainly on Chapters 7 and 13, because those are what you’ll deal with most in your credit union. If you’re already familiar with the “old” (pre-October 17, 2005) code, you’ll appreciate the helpful “Summary of 2005 Bankruptcy Law Revisions” section. If you’re new to bankruptcy issues, this book gives you a thorough grounding in bankruptcy concepts, rules, and procedures.

Features of the bankruptcy code covered in the book include:

• Changes in the responsibilities of debtors, creditors and trustees
• The new, improved automatic stay for those problem serial filers
• How to have a Chapter 7 case dismissed for abuse
• The new forms, including the reaffirmation agreement and the complicated means test calculation
• The new cram-down rules for vehicles and other collateral
• How often a member can file for bankruptcy under either Chapter 7 or Chapter 13

The book comes with a CD that gives you convenient access to bankruptcy forms, schedules, and other resources.

Also available :

• as a collection of electronic files (ZIP)