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Slips Across the Blogosphere

posted by Bob Lawless

A few random items around the blogosphere that caught my eye and might be of interest to Credit Slips readers. Yes, this means I didn't have time to compose a lengthier post:

  • The Executive Office of U.S. Trustee ("EOUST") extended its waiver of the credit counseling and debtor education requirements for bankruptcy filers in areas struck by Hurricane Katrina. The waiver affects bankruptcy filers in the Eastern, Middle, and Western Districts of Louisiana and the Southern District of Mississippi. The press release is here. The 2005 bankruptcy amendments added these requirements and gives the EOUST power to waive requirements when they find the services are unavailable. Previous posts by Katie Porter and John Pottow discuss the increased power of the EOUST under the 2005 amendments, and this power to waive the counseling and education requirements is a good illustration of that increased power.
  • In the business bankruptcy area, the September 21 issue of The Economist had an article entitled "In the Shadows of Debt." The subtitle says it all: "Business is being reshaped by a massive borrowing binge, but much of it is unseen, unregulated and little understood." The article is available online here for subscribers or those willing to watch an ad.
  • An article in the N.Y. Times (reg. req'd) about skyrocketing housing costs and stagnating incomes. The second paragraph: "[M]any of the biggest jumps in the percentage of people paying a burdensome amount of their income for housing occurred in the Midwest and in suburbs nationwide, making it clear that the housing squeeze has reached deep into the middle class."

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  • As a public service, the University of Illinois College of Law operates Bankr-L, an e-mail list on which bankruptcy professionals can exchange information. Bankr-L is administered by one of the Credit Slips bloggers, Professor Robert M. Lawless of the University of Illinois. Although Bankr-L is a free service, membership is limited only to persons with a professional connection to the bankruptcy field (e.g., lawyer, accountant, academic, judge). To request a subscription on Bankr-L, click here to visit the page for the list and then click on the link for "Subscribe." After completing the information there, please also send an e-mail to Professor Lawless (rlawless@illinois.edu) with a short description of your professional connection to bankruptcy. A link to a URL with a professional bio or other identifying information would be great.

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