2005年 美國聯邦破産法上

The Significant Reform Contained in American Consumer Bankruptcy Law in 2005

Significant change has developed in American Bankruptcy Law with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 . This statute was enacted in April 2005 and took effect on October 17. 2005, after nearly 8 years of reform efforts in the United States Congress. The major thrust of the reform is to increase the protection afforded to creditors, by making it more difficult for debtors to liquidate their entire debt without having to pay at all. The purpose of this article is to highlight the most important changes implemented by this law. To capture the essence of the reform, the reader will find, in Parts I and II, a brief history of American Bankruptcy Law from its origins to the present. The focus is on Chapter 7 liquidation and Chapter 13 wage earner plans. To this end, in Part III, the article covers the following subjects of the reform: as to the filing of the petition, the new means test, the effect on the automatic stay, mandatory credit counseling, and mandatory tax returns. Concerning the treatment of security interests, reaffirmation, retention/ride-through, and strip-down in chapter 13. With respect to discharge, the limitation of the homestead exemption, scope of discharge, treatment of serial discharge, and extending the duration of Chapter 13 plans. Finally, the article addresses mandatory debtor education and attorney accountability. In part IV, after summarizing the american reforms, the article concludes by examining the state of Korean Bankruptcy Reform, especially Chapter 4 (effective April, 2006), which is similar to Chapter 13 of the U. S. Bankruptcy Code of 1978, that America has now amended.