Consumer Bankruptcy

Unemployment rates are slowly dropping after hitting an all-time high in April of this year and remaining in the double digits for four months straight. However, the effects of the ongoing pandemic remain. Rent payments are down, and homeowners are delaying payments on their mortgages. The Federal Reserve has dropped interest rates to near-zero, and small business revenue nationwide is down nearly 20%, even after accounting for the thousands of businesses that have already closed for good. Congress, states and local governments are scrambling to put policies and programs in place that will help forestall financial collapse. As bankruptcy practitioners and scholars, this is our moment — or is it? This presentation will explore the role that bankruptcy policy can and should play in a global pandemic, discuss the role that bankruptcy policy has already begun to play, and query what factors may be limiting the effectiveness of bankruptcy policy in easing financial distress and limiting unnecessary business closures.

This past year has seen a remarkable number of wide splits and controversial opinions. This panel of experts, moderated by ABI Editor-at-Large Bill Rochelle, will discuss and analyze current notable business and consumer bankruptcy cases.

The panel will focus on counseling clients once we enter a post-COVID period, including when you should counsel your client to file, issues related to medical debts and tax refunds, and timing considerations.

Presented by the Hon. Steven W. Rhodes Consumer Bankruptcy Conference This session will address the impact that COVID-19 has had on consumer bankruptcy law practice, and what the post-COVID future might look like. The panelists will discuss how court policies and procedures have changed over the course of this health crisis, and will provide a high-level review of substantive issues that have been altered in consumer bankruptcy practice, such as mortgage-forbearance issues. The panelists also will share their experiences working to safely and effectively meet the needs of clients, manage firm business and improve remote work practices. Highlighted will be the importance of proper data-privacy and client-confidentiality measures, and the valuable role of staff productivity measures and tracking controls. The session will also delve into creating emergency-preparedness plans to uphold attorney duties and adequately meet the needs of clients and firm staff in the event of an emergency, untimely death or disability of a firm’s principal or key employee.

Presented by the Hon. Eugene R. Wedoff Seventh Circuit Consumer Bankruptcy Conference This session will provide a judge’s perspective on preferences for virtual hearings and trials, trustee and debtor attorney discussions on § 341 meetings, and best practices from U.S. Trustee and debtor’s attorney points of view.

Presented by NACTT Chapter 13 trustees will provide their perspectives on the overlooked benefits of chapter 13 in this session, as well as what constitutes a successful chapter 13 case.

Presented by the Hon. Eugene R. Wedoff Seventh Circuit Consumer Bankruptcy Conference The panelists will discuss § 348(f), bad-faith conversion, best-interest test, post-petition acquisitions, and dilemmas regarding the return of property, among other conversion issues.

Presented by NABT Divorce and family separation often serve as the impetus for consumer bankruptcies. This panel will address the intersection between bankruptcy and divorce. For example, the State in which a bankruptcy is filed and the timing of the bankruptcy relative to the filing of a divorce can determine which marital assets are property of the bankruptcy estate. Further, the timing of the final judgment of dissolution of marriage can impact whether assets awarded to the debtor in the divorce can be property of the bankruptcy estate. This panel will also address whether a marital settlement agreement can be set aside as a fraudulent transfer.

Presented by the Hon. Steven W. Rhodes Consumer Bankruptcy Conference Explore the latest in what constitutes disposable income, raising and overcoming good-faith objections, evolving strategies in student loan treatment, unique issues arising due to COVID-19, and other advanced and challenging issues facing the chapter 13 practitioner.

Presented by the Hon. Eugene R. Wedoff Seventh Circuit Consumer Bankruptcy Conference The panelists will discuss systemic/unconscious bias, defects in the system, and what the bar and the judiciary can do to correct disparate treatment.