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2005 "Reform" Act -- Beware of the Timing
Please note that the effective date contained in S. 256 does not have a
180-day effective date window for all of its provisions.
For example, the homestead limitations (sections 308 and 322), including the
$125,000 cap are effective upon enactment in the current version of the bill
(section 1501(b)).
As a result, if you have a (soon to be) Debtor that [1] acquired his
interest less than 1215 days before the Petition date or [2] is a "bad acts" debtor,
you should seriously consider filing prior to enactment of the new law.
Please let me know your thoughts.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Ste. 1080
Torrance, CA 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
Please note that the effective date contained in S. 256 doesnot have a 180-day effective date window for all of its
provisions.
For example, the homestead limitations (sections 308 and 322), including
the $125,000 cap are effective upon enactment in the current version of
the bill (section 1501(b)).
As a result, if you have a (soon to be) Debtor that [1] acquired his
interest less than 1215 days before the Petition date or [2] is a "bad acts"
debtor, you should seriously consider filing prior to enactment of the newlaw.
Please let me know your thoughts.
Law Office
of Eric Alan Mitnick21515 Hawthorne Boulevard, Ste. 1080Torrance, CA
90503(310) 792-5864; 792-5866
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