THE CONSUMER BANKRUPTCY LETTER
 In This Issue: August 5, 2003 
•   BANKRUPTCY THIS WEEK
•   ANNOUNCEMENTS
•   THE LAWYER'S GIFTSHOP
•   LEGISLATION & REFORM NEWS . . .
•   BankruptcyBooks.com
•   BANKRUPTCY HUMOR . . .
 BANKRUPTCY THIS WEEK
MORE CONSUMERS SEEK CREDIT COUNSELING

Approximatly 1,000 counseling firms are helping consumers in trouble with debt, up from about 200 agencies a decade ago. About 9 million people have contact with a counseling firm each year.

Said Michael Hall, president and founder of Take Charge America, a Phoenix counseling firm that ranks among the nation's largest. "Customers no longer are just poor people struggling with medical bills," "Now, a lot more come from the middle class."

Consumer borrowing, especially through credit cards, has fueled the boom. Revolving debt has ballooned to $725 billion, reports the Federal Reserve System, up from $563 billion less than five years ago.

BKThisWeek.com

 THE LAWYER'S GIFTSHOP
THEMIS - GODDESS OF JUSTICE

Bronze. 33 lbs.

21" H x 9"W x 5"D $880

Make a "power" statement in your office. When prospective clients enter your waiting room and the first thing they see is this magnificent bronze culture ... they'll know they've come to the right lawyers.

You know the old saying about first impressions.

TO ORDER - CLICK ON IMAGE AT RIGHT . . .

ALSO briefcases. Go to LAWGON.COM and click on GIFTSHOP, or click below . . .

The Lawyer's Giftshop . . .

 BankruptcyBooks.com
King's Fundamentals of
Chapter 13 Law & Practice
Revised & Updated 2002

2nd ed. • 584 pages • 40 exhibits, forms and checklists • hundreds of cases cited

In one volume . . . basic discussion of the practical, hands-on processing of a chapter 13 file in the office. Over 40 checklists and forms to assist in the evaluation, filing and post-petition administration of the case. Common procedural problems, glitches and hidden issues. Ethical traps and how to avoid them. Learn from the experience of others! Drafting the plan - How claims are handled - budget issues - bad faith - defending relief from stay, etc. - Setting up the office - Books and computer programs - Using paralegals - Setting and collecting fees - Guide to handling common tasks, including objecting to claims, lien conversion and dismissal, etc. - Filing claims on behalf of creditors - Attacking tax liens - Handling leases and executory contracts, and more.

TO ORDER - CLICK ON IMAGE AT RIGHT . . . OR VISIT THE BOOKSTORE - CLICK BankruptcyBooks.com . . .

BANKRUPTCYbooks.com

 ANNOUNCEMENTS
NACBA 2004 CONVENTION - SAVE THE DATE

The 2004 NACBA convention of National Association of Consumer Bankruptcy Attorneys will be held in Boston, Massachusetts from April 23-24 at the Sheraton Boston Hotel (Copley Plaza). Room rates are $195 per night (plus tax). Look for more on the program later in the year. Additional information on the hotel may be found on the NACBA Web site at www.nacba.org. We hope you will plan on joining us in Boston!
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 LEGISLATION & REFORM NEWS . . .
LITTLE MOVEMENT IN SENATE ON REFORM BILL

Informed sources report that there has been no activity on the bankruptcy bill in the Senate. The bill passed in the House in March.

An abortion clinic amendment pushed by Senator Schumer is still a problem for reform backers. The Senate rules make it difficult for the bill to pass in the Senate with Schumer’s objection to a bill without the amendment. There are no indications that Senator Schumer is willing to entertain a suggestion to put his amendment up for a simple vote despite being urged to do so by pro-reform legislators.

Another sticky-wicket . . . The SEC recently came out with opposition to an amendment contained in the Reform bill that removed long-standing conflict-of-interest prohibitions on investment banking firms advising companies in bankruptcy.

Opponents of the Reform bill continue behind the scenes to educate legislators on problems with the Reform bill. Some Senators have agreed to sponsor amendments proposed by Reform opponents. NACBA (National Association of Consumer Bankruptcy Attorneys) continues its vigilant watch in Washington, and maintains communication with key Senators.

LEGISLATION & REFORM NEWS

 BANKRUPTCY HUMOR . . .
When NASA first started sending up astronauts, they quickly discovered that ball-point pens would not work in zero gravity.

To combat this problem, NASA scientists spent a decade and $12 billion developing a pen that writes in zero gravity, upside down, underwater, on almost any surface including glass and at temperatures ranging from below freezing to over 300° C.

The Russians use a pencil.

© King Bankruptcy Media 2003.  BankruptcyMedia.com

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