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Full-Text Articles in Law
Tipping The Scales: Balancing The Weight Of Equity With Loan Rescissions In Bankruptcy, Corey Scott Hadley
Tipping The Scales: Balancing The Weight Of Equity With Loan Rescissions In Bankruptcy, Corey Scott Hadley
Maine Law Review
Prior to the passage of the Truth-in-Lending Act (TILA) in 1968, consumers were vulnerable to many deceptive practices employed by creditors when participating in loan transactions. Following the passage of TILA, it was the hope of Congress that consumers would now have the tools necessary to fend off predatory or deceptive credit terms buried within the fine print of a loan agreement. One of the options afforded to consumers facing a suspect loan agreement is the right to rescission. When lenders, creditors, and other parties in the credit transaction “fail to provide the consumer with proper disclosures about the loan …
The Consumer Bankruptcy Fee Study: Final Report, Lois R. Lupica
The Consumer Bankruptcy Fee Study: Final Report, Lois R. Lupica
Faculty Publications
The Consumer Fee Study’s primary objective is to identify and monetize these costs of bankruptcy access through the analysis of quantitative and qualitative data gathered from court dockets and from professionals working within the bankruptcy system. We began the quantitative section with the hypothesis that following BAPCPA’s enactment, the cost of accessing the consumer bankruptcy system increased. We set out to determine the degree of increased costs, as well as to identify the specific policies and practices affecting these costs. Additionally, we endeavored to evaluate, with specificity, how diverse local procedures and guidelines impact the system’s processes and outcomes. Our …
The Costs Of Bapcpa: Report Of The Pilot Study Of Consumer Bankruptcy Cases, Lois R. Lupica
The Costs Of Bapcpa: Report Of The Pilot Study Of Consumer Bankruptcy Cases, Lois R. Lupica
Faculty Publications
Substantial changes were made to the consumer bankruptcy system with the enactment of BAPCPA. These changes, however, were enacted without data support for, or recognition of how such changes would affect the cost of accessing the bankruptcy system. The Costs of BAPCPA Pilot Study undertook a review of the costs of the consumer bankruptcy system following BAPCPA's enactment, to determine if costs were increased, and if so, whether these costs were passed on to the consumer. The issue of "costs" distills the question of what attorneys are charging consumers to represent them under the new regime. Thus a study of …