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THE CONSUMER BANKRUPTCY LETTER |
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In This Issue:
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November 29, 2004
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ACADEMY NEXT STOP - TEXAS!
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PENDING EVENTS, SEMINARS & CLE
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HEADS-UP ON RECENT CASES
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December 2-4, 2004
AMERICAN BANKRUPTCY INSTITUTE
Winter Leadership Conference
Marriott's Camelback Inn, Scottsdale, AZ
Contact: 1-703-739-0800 or
abiworld.org
December 17, 2004
BANKRUPTCY ACADEMY LIVE WEB CASTS
BankruptcyAcademy.com
January 27, 28, 29 2005
KING BANKRUPTCY ACADEMY
Discharging Taxes in Bankruptcy From A to Z
San Antonio, Texas
(925) 829-6460
BankruptcyAcademy.com
February 10-12, 2005
AMERICAN BANKRUPTCY INSTITUTE
Rocky Mountain Bankruptcy Conference
Denver, Colorado
Contact: 1-703-739-0800 or
abiworld.org
February 26 - March 1 2005
NORTON INSTITUTES OF BANKRUPTCY LAW
Park City, Utah
nortoninstitutes.org
April 9-12 2005
NORTON INSTITUTES OF BANKRUPTCY LAW
Las Vegas, NV
nortoninstitutes.org
April 29 - May 1 2005
NACBA Annual Convention
San Diego, California
nacba.org
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BANKRUPTCY REFORM DIES ANOTHER DEATH
Congress finished most of its lame-duck session and left town Saturday, leaving a bankruptcy-reform bill to die on the vine once again, CardLine sister publication Credit Union Journal Daily reports today. Lawmakers may return for a brief attempt to vote on recommendations by the 9/11 Commission, but only if agreement can be reached on the key recommendations, according to John McKechnie, chief lobbyist for the Madison, WI-based trade group Credit Union National Association. "It doesn't look as if they're going to get to our stuff," McKechnie, referring to the bankruptcy measure, told CUJ Sunday.
The bill, long sought by credit card issuers and other lenders, would make it tougher for individuals to walk away from unsecured debt, relegating more consumers instead into reorganizations. The proposal has been lingering since the House and Senate passed it last year because both chambers have yet to agree on a single version to send to President Bush. This would be the fourth straight Congress that a bankruptcy bill has died.
cardforum.com
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FREE CREDIT REPORTS START DECEMBER 1
Beginning on December 1, 2004, free annual credit reports will be made available upon consumer's request, pursuant to the Fair and Accurate Credit Transactions Act of 2003 (“FACT”).
The reports will be available across the country in four stages: Dec. 1, Alaska, Hawaii, and other Western states; March 1, Midwestern states; June 1, Southern states; New England and other Eastern states, Sept. 1.
Consumers will be able to request their reports from all three major credit reporting agencies, at a special web site, AnnualCreditReport.com; the credit report will appear on the screen and may be printed out. Or, they may call 1-877-322-8228, or write to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
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FEDERAL DEBT SKYROCKETS
On Nov. 19, Congress rather unceremoniously raised the federal debt ceiling, the amount of money that Congress allows the Federal Treasury to borrow, by $800 billion, meaning that the government can now go up to $8.18 trillion in debt. Unceremoniously, because our government had already breached its previous limit and was taking money out of pension accounts to keep the government running, not something the Republican majority was keen to highlight.
The Republican stewardship of our treasury has been far from responsible over the past four years. At President Bush's first inauguration, our federal debt stood at about $5.6 trillion. Thanks to budget surpluses caused by the boom years of the 1990s and President Clinton's dedicated deficit reduction effort, this debt was decreasing.
Since Bush took office, however, our debt has increased by about 30 percent.
In the fiscal year that ended in September, our government paid $321 billion in interest payments. A recent Washington Post editorial estimated that at the current pace, "interest costs will account for almost 10 percent of federal spending in the next decade."
Kevin Collins, DailyPennsylvanian.com
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PUBLISHED BY KING BANKRUPTCY MEDIA FOR BANKRUPTCY PROFESSIONALS 7080 Donlon Way Suite 222 Dublin California 94568 (925) 829-6460
© King Bankruptcy Media 2004 CONTACT US AT editor@bankruptcymedia.com
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