H.R. 1529: The Involuntary Bankruptcy Improvement Act (CRS Report for Congress)
| Release Date |
Revised July 22, 2003 |
| Report Number |
RS21515 |
| Report Type |
Report |
| Authors |
Robin Jeweler, American Law Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
H.R. 1529 is intended to combat what some believe is a growing trend of frivolous involuntary bankruptcy filings by creditors acting in bad faith, or to harass a debtor. The bill would amend 11 U.S.C. Section 303 by adding a new subsection. The subsection would give debtors two new remedies against bad faith filings. First, if a petition that is filed against an individual debtor is subsequently dismissed, and the court finds that the filing included false, fictitious, or fraudulent statements, then, at the debtors request, the court must expunge all records relating to the filing. Second, the court may issue an order prohibiting all consumer reporting agencies from reporting any information relating to the filing.
