Note Mba

Supreme court adopts new bankruptcy rules that could affect our entire industry.. or not. No, they probably will. Though it can be hard sometimes to parse out all the doom and gloom messaging from many different news outlets. Bankruptcy itself isn't going away, so that isn't the major change. What we've been served with, however, is a new set of rules to play by. We talk about some of them in this week's show. Supreme Court Adopts New Bankruptcy Rules Finally, after several years of debate, major changes have been approved that will have a profound impact on consumer bankruptcy cases.  On April 27, 2017, the Supreme Court of the United States, through Chief Justice John Roberts, submitted to Congress amendments to the Federal Rules of Bankruptcy Procedure which set forth extensive changes dealing with forms and filing of claims.  The proposed changes will take effect December 1, 2017 and will significantly change how creditors should approach consumer bankruptcy cases (Chapter's 7, 12 and 13) and will requir