Bigger homestead and personal property exemptions would benefit debtor-homeowners and encourage more debtors to opt for Chapter 7, not Chapter 13, relief.
Thanks to a new seventh circuit case, it's more important than ever for attorneys who represent debtors in Chapter 7 to get all of their fees up front.
Congress has yet to pass bankruptcy reform legislation. Meanwhile, the bankruptcy bar has had little success in tempering provisions they say are unfriendly and unfair to lawyers.
On May 15, 2002, the United States Court of Appeals for the Seventh Circuit affirmed the decision of the District Court for the Northern District of Illinois, Eastern Division, and concluded that the district court did not err in denying debtor Zurn's request to reopen a chapter 13 plan under 11 USC § 350(b).
