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Articles 1 - 16 of 16
Full-Text Articles in Law
U.S. Higher Education Financing Has Significantly Changed, So Too Should Seventh Circuit Student Loan Discharge Law, William L. Ryan
U.S. Higher Education Financing Has Significantly Changed, So Too Should Seventh Circuit Student Loan Discharge Law, William L. Ryan
Northern Illinois University Law Review
Every year in the U.S., millions of students use public and private student loans to finance a portion of their post-secondary education. Inevitably, many student borrowers find themselves in the financial doldrums in the years subsequent to the initial loan disbursement. From this precarious position of defaulted debtor, many seek a fresh start by way of a personal debt discharge in Bankruptcy Court. Prior to 1978, student loan debt was discharged in routine bankruptcy proceedings. In 1978, Congress inserted provision 11 U.S.C. 523(a)(8) into the Bankruptcy Code. Section 523(a)(8) is better known as the "undue hardship" provision. The undue hardship …
Vol. 5 No. 1, Fall 2013; Debtors Deserve The Dischargeability Of Tax Liability To Be "Honest And Reasonable", Robert Finegan
Vol. 5 No. 1, Fall 2013; Debtors Deserve The Dischargeability Of Tax Liability To Be "Honest And Reasonable", Robert Finegan
Northern Illinois Law Review Supplement
The most current version of the Bankruptcy Code, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), is considered one of the most technical and comprehensive reforms to the Bankruptcy Code. Facing a dramatic increase in consumer bankruptcies and fearing an increase in abuse of the system, Congress included stricter guidelines and rules to try and prevent debtor abuse in BAPCPA. Another addition that BAPCPA added, and at the heart of this Comment, was the addition of a hanging paragraph to the Bankruptcy Code section 523(a). The issue of whether a person can discharge their tax liability through a Chapter …
The Means Test: Finding A Safe Harbor, Passing The Means Test, Or Rebutting The Presumption Of Abuse May Not Be Enough, Robert J. Landry Iii
The Means Test: Finding A Safe Harbor, Passing The Means Test, Or Rebutting The Presumption Of Abuse May Not Be Enough, Robert J. Landry Iii
Northern Illinois University Law Review
The scholarship addressing the changes to individual consumer chapter 7 cases under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) has largely focused on application of the mechanics of the means test and the presumption of abuse standard. The focus of this article is the application of the abuse standard in cases in which the means test is not applicable, has been passed, or has been rebutted. The author argues that most of the litigation and attention in the post-BAPCPA era will be in this area. The resulting complex statutory framework may be insufficient for debtors to …
Where There's A "Will," There Should Be A Way: Why In Re Salvino Unjustifiably Restricts The Application Of § 523(A)(6) To Exclude Willful And Malicious Breaches Of Contract, Michael D. Martinez
Where There's A "Will," There Should Be A Way: Why In Re Salvino Unjustifiably Restricts The Application Of § 523(A)(6) To Exclude Willful And Malicious Breaches Of Contract, Michael D. Martinez
Northern Illinois University Law Review
In accordance with the Bankruptcy Code's policy of limiting the privilege of discharge to "honest but unfortunate" debtors, the Code provides that certain types of debts shall be excepted from discharge as a matter of law. Of the twenty-one exceptions to discharge, the exception for "willful and malicious" injuries contained in section 523(a)(6) of the Code has given rise to a split of authority in the United States Circuit Courts of Appeals regarding whether tortious conduct is an essential element of a willful and malicious injury, as defined in section 523(a)(6). This note analyzes the decision in Wish Acquisition v. …
Secured Transactions History: The Northern Struggle To Defeat The Judgment Lien In The Pre-Chattel Mortgage Act Era, George Lee Flint Jr.
Secured Transactions History: The Northern Struggle To Defeat The Judgment Lien In The Pre-Chattel Mortgage Act Era, George Lee Flint Jr.
Northern Illinois University Law Review
Reformers recently have attacked the priority accorded the Anglo-American nonpossessory secured transaction both under bankruptcy and non-bankruptcy law. These reformers believe that the law should reserve some of the debtors' assets for general creditors, most notably tort claimants with judgment liens. The priority rule like many legal rules was adopted to solve some problem. The problem has disappeared, yet the rule remains. Thus, lawmakers must determine if some new rationale justifies the rule and, if so, the rule takes on a new life. If not, then lawmakers should change rules to accommodate the new conditions. This article aims to provide …
The Disparate Treatment Of Student And Family Farmer Debtors: Suggestions For Statutory Reform Of Bankruptcy Policy, Nancy H. Kratzke, Thomas O. Depperschmidt
The Disparate Treatment Of Student And Family Farmer Debtors: Suggestions For Statutory Reform Of Bankruptcy Policy, Nancy H. Kratzke, Thomas O. Depperschmidt
Northern Illinois University Law Review
The resolution of bankruptcy litigation involving individuals under the governmental student loan programs and family farmers under Chapter 12 of the Bankruptcy Code provides an intriguing insight into congressional policy. That divergence is especially prominent in the treatment of "disposable income" under these two statutory provisions. When deciding issues relating to whether income should go to unsecured creditors or be used to offset future farming costs, courts tend to interpret the Code in favor of debtors; conversely, the Code creates, and courts perpetuate through their rulings, a clear presumption against discharging student loan obligations. The debtor will prevail only if …
The Cents Of It: Dischargeability And Environmental Claims Under The Bankruptcy Code, Denise M. Schuh
The Cents Of It: Dischargeability And Environmental Claims Under The Bankruptcy Code, Denise M. Schuh
Northern Illinois University Law Review
Courts have been unable to develop a consistent body of precedent as to the point at which a CERCLA claim arises under the Bankruptcy Code due to the competing policy interests involved. This comment analyzes the current approaches employed by the courts and concludes that the current approaches are inadequate to provide a compromise between the policy objectives of both CERCLA and the Bankruptcy Code. This comment proposes a judicial actual notice standard in conjunction with legislative action to enact an environmental liability exception to the dischargeability provisions of the Bankruptcy Code.
Chapter 11 For Individual Consumer Debtors: Fresh Start Or False Start?, Cheri L. Cohen
Chapter 11 For Individual Consumer Debtors: Fresh Start Or False Start?, Cheri L. Cohen
Northern Illinois University Law Review
This commentary examines the implications for consumer debtors filing for bankruptcy relief under chapter 11. This option was made available to all consumer debtors in the Supreme Court decision of Toibb v. Radloff. The author contends that the consumer debtor will only obtain a false start, instead of a fresh start, by turning to chapter 11 for the sought-after relief.
Less Than Perfected: Uncertainty In Illinois Judgment Lien Law, Frank Stepnowski
Less Than Perfected: Uncertainty In Illinois Judgment Lien Law, Frank Stepnowski
Northern Illinois University Law Review
Attempting to reduce the confusion surrounding Illinois judgment lien law, the author explores contradictory decisions of the past involving levy and execution, chancery's creditor's bill, and citation to discover assets. The article calls for clarification and specific reforms of Illinois's Article XII of the Code of Civil Procedure to conform judgment collection procedures with modern practice, the Bankruptcy Code, and the UCC.
The Bankruptcy Code Requirement Of Compliance With Lease Obligations--Does "All" Mean Everything?, Glenn F. Schmitt
The Bankruptcy Code Requirement Of Compliance With Lease Obligations--Does "All" Mean Everything?, Glenn F. Schmitt
Northern Illinois University Law Review
This article considers the intent of Congress in Bankruptcy Code section 365(d)(3) as it affects the rights of shopping center lessors vis-d-vis their tenants who seek bankruptcy protection. The author concludes the Section should be broadly applied to require such tenants to fully comply with the terms of their leases.
The Bankruptcy Improvements Act -- An Update, Robert E. Ginsberg
The Bankruptcy Improvements Act -- An Update, Robert E. Ginsberg
Northern Illinois University Law Review
An update on the author's article in Volume 3, Number 1 of the Northern Illinois Law Review which analyzed the proposed Bankruptcy Improvements Act. This article focuses on the proposed Consumer Credit Amendments of the pending Omnibus Bankruptcy Improvements Act of 1983.
The Proposed Bankruptcy Improvements Act: The Creditors Strike Back, Robert E. Ginsberg
The Proposed Bankruptcy Improvements Act: The Creditors Strike Back, Robert E. Ginsberg
Northern Illinois University Law Review
A comprehensive, critical analysis of the proposed Bankruptcy Improvements Act and the changes it would create in the area of consumer bankruptcy by effectively eliminating the consumer's right to the traditional chapter 7 liquidation bankruptcy proceeding and by requiring mandatory chapter 13 wage earner plans.
Educational Loans In Bankruptcy, Lawrence Kalevitch
Educational Loans In Bankruptcy, Lawrence Kalevitch
Northern Illinois University Law Review
An analysis of judicial treatment of student loans in bankruptcy proceedings, with special emphasis on four particular problem areas.
Constitutional Chaos: Rodrock V. Security Industrial Bank / Thorp Finance Corporation V. Gifford, Richard L. Merrick
Constitutional Chaos: Rodrock V. Security Industrial Bank / Thorp Finance Corporation V. Gifford, Richard L. Merrick
Northern Illinois University Law Review
An extensive analysis of the history of bankruptcy law in order to show that the Rodrock and Gifford decisions were incorrect in their analysis of "value" which exceeded time-honored constitutional and common law limitations.
Report And Recommendations, Consumer Bankruptcy Subcommittee Of The Committee On Consumer Financial Services Of The American Bar Association
Report And Recommendations, Consumer Bankruptcy Subcommittee Of The Committee On Consumer Financial Services Of The American Bar Association
Northern Illinois University Law Review
The Subcommittee suggests that bankruptcy law can be made consistent with income-based consumer credit practices, stemming the-tide of bankruptcy losses.
The Potential For Post-Discharge Lien Survival: Problems Surrounding Sections 506(D) And 524(A) Of The Bankruptcy Code Of 1978, Andrew J. Schmid
The Potential For Post-Discharge Lien Survival: Problems Surrounding Sections 506(D) And 524(A) Of The Bankruptcy Code Of 1978, Andrew J. Schmid
Northern Illinois University Law Review
Because of the ambiguities surrounding the discharge injunction, the author suggests that section 506(d) should be recognized by the bankruptcy bar for its value in preventing attachment of inchoate liens, impairing the debtor's "fresh start."