Tonight live at 7 on the Philadelphia CNN-News affiliate WFMZ-TV, The American Law Journal presents "Consumer Bankruptcy How New Laws and the Great Recession Changed the Practice." Joining host Christopher Naughton are debtor's attorney George M. Lutz of Case, DiGiamberardino & Lutz, creditor's counsel Brian H. Smith of Lamm Rubenstone and U.S. Bankruptcy Judge Richard E. Fehling of the Eastern District of Pennsylvania.
The panel examines the aftermath of 2005's controversial Bankruptcy Abuse Prevention and Consumer Protection Act crashing headlong into the Great Recession.
"Chapter 13s spiked but as the decade wore on, people realized that their home was not worth saving," said Katie Powers of Creditslips.org. "Debtors managed to file Chapter 7 anyway, to the consternation of the banks and the credit card companies who engineered the act in 2005." Now, creditors appear to be coming to the table and renegotiating loans that, in the past, they never would have considered.
The program airs at 7 p.m. today and replays at 5:30 p.m. Sunday preceding WFMZ-TV news. The show becomes available this week on www.LawJournalTV.com as well as YouTube.
View WFMZ-HD over the air and on all cable and satellite systems; see http://bit.ly/ALJchannels. FiOS system subscribers, tune to channel 15.
Next week on The American Law Journal: "Facebook, Blogs and the Boss the Intersection of Work and Social Media."