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Bankruptcy Technical Corrections Act to President

By Pamela Stewart, Attorney at Law

On December 16th the House of Representatives voted to give final congressional approval to the Bankruptcy Technical Corrections Act (H.R. 6198).  The Act primarily makes technical changes, such as correcting cross-references in the statute where the numbering of an existing provision was changed (e.g. to section 521 or 704).

 It also clarifies that pre-petition credit counseling can occur on the same day as the petition is filed.  Currently, case law is split on whether credit counseling has to be completed no later than the day before filing or if it is okay to complete the counseling on the day of filing.

Another change is in Section 362(d)(4).  “Delay, hinder, and defraud” is being changed to “delay, hinder, or defraud” conforming the phrase to other parts of the Code. 

The text of the legislation may be found at http://thomas.loc.gov

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Full post as published by Bankruptcy Law Network on December 19, 2010 (boomark / email).