2nd Edition

Discover what you need to know about the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Written by credit union and bankruptcy attorney Samuel T. Wyrick, III, 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.

Topics 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

CUNA books and eBooks provide your staff and board with great choices for professional development and continuing education. Have the flexibility to train your staff whenever and wherever training is needed.

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