On March 8, 2010, the U.S. Bankruptcy Court for the Eastern District of Michigan (which covers Detroit, Bay City, and Flint) posted a notice on its website regarding an “Institute for Continuing Legal Education [ICLE] Seminar” to take place April 19, 2010 in Plymouth, Michigan. The notice (available here) indicates that the featured speakers will be the Honorable Keith M. Lundin and Henry E. Hildebrand, who is a Chapter 13 trustee in Judge Lundin’s district. According to the notice, both are nationally recognized as experts on consumer bankruptcy matters and are scheduled to present "their patented, high energy Chapter 13 case law update." The seminar is a joint venture between ICLE and the Consumer Bankruptcy Institute. A similar notice was recently posted on the Western District of Michigan Bankruptcy Court's website, as I discussed last week at the National Bankruptcy Forum.
Chapter 13 has been a hot topic in recent months as the effects of the economic downturn are being felt even by high wage earners who do not qualify for Chapter 7, but still need some type of bankruptcy protection due to real estate or stock market losses or failed business ventures. As discussed here, Chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the Debtor ’s current monthly income is less than the applicable state median, the plan will be for three years unless the court approves a longer period “for cause.” If the debtor’s current monthly income is greater than the applicable state median, the plan generally must be for five years. In no case may a plan provide for payments over a period longer than five years. During this time the law forbids creditors from starting or continuing collection efforts.
Several bankruptcy judges from the Eastern District of Michigan are scheduled to participate, in the upcoming ICLE/Consumer Bankruptcy Institute seminar, including Hon. Marci B. McIvor, Hon. Walter Shapero, Hon. Steven W. Rhodes, Hon. Thomas J. Tucker, and Hon. Daniel S. Opperman. This seminar is just one of many ways that bankruptcy attorneys can enhance their understanding of bankruptcy law. The Eastern District of Michigan has recently promoted similar seminars related to tax issues in bankruptcy, receiverships, assignments for the benefit of creditors, operating in Chapter 7, and other issues.
-Drew Broaddus