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Whatever Happened to Usury Laws? »

Usury is defined in Webster’s as, “the lending or practice of lending money at an exorbitant interest.” All states, including Maryland, have laws prohibiting usury—in Maryland, the default rate of interest is 6%, and most loans cannot exceed 24%. So how is it that many credit cards have annual rates of 30% or more? How […]

Does the “Absolute Priority Rule” Still Apply in Individual Chapter 11 Cases? »

The Absolute Priority Rule (APR) is a long-established principle that in Chapter 11 cases creditors’ claims take priority over shareholders’ claims. Pre-BAPCPA, cases such as In re Gosman, 282 B.R. 45 (Bankr. S.D. Fla. 2002) held that the retention of even exempt property by an individual debtor in a Chapter 11 Plan violates the absolute […]

New Decision On Bankruptcy for People Living Outside the United States »

The Honorable Nancy V. Alquist, a Judge on the United States Bankruptcy Court for the District of Maryland, entered a ruling on September 28, 2007 in an important case I argued, In re Baker. This case deals with international bankruptcy at the individual level—it lets people living outside the United States file for bankruptcy in […]

Brett Weiss to Lecture and co-Chair Advanced Consumer Bankruptcy Institute »

On November 29, 2007, Brett Weiss will lecture and co-Chair the MICPEL Advanced Consumer Bankruptcy Institute, a full-day session to be held in Columbia, Maryland. Mr. Weiss will appear on two panels, Chapter 11 for Individuals (with the Honorable Thomas J. Catliota, , Assistant U.S. trustee Mark A. Neal, Stanton J. Levinson, Esquire and James […]

Brett Weiss is Quoted in bankrate.com Article on Bankruptcy Tithing Decision »

Brett Weiss is quoted in the article, “Bankruptcy Law Forbids Tithing, Charitable Donations” on the business site www.bankrate.com. This article discussed New York Bankruptcy Judge Robert Littlefield, Jr.’s August 28, 2006 opinion in In re Diagostino finding that tithes were not allowable deductions on the Means Test. Weiss said that, “The ruling puts consumers in […]