DEFINITION of 'American Bankruptcy Institute - ABI'

The American Bankruptcy Institute (ABI) is a nonpartisan research association and organization that educates its members, Congress and the public on bankruptcy issues. Founded in 1982 and based in Alexandria, Virginia, the ABI includes more than 12,000 attorneys, accountants, lenders, judges, bankers and other bankruptcy professionals. The ABI also provides grants to scholars researching insolvency issues and offers consumer education through its online Consumer Bankruptcy Center.

The ABI primarily provides education by analyzing proposed legislation, publishing books, maintaining an informational website, providing information to journalists, publishing its ABI Journal 10 times a year and its ABI Law Review twice a year, and holding national and regional conferences that provide continuing education to bankruptcy professionals. The ABI does not lobby Congress.

BREAKING DOWN 'American Bankruptcy Institute - ABI'

The ABI is normally called on to testify before Congress, analyze proposed bills and carry out occasional briefings for Congressional committees and legislative staff. Further, it acts as a publisher for educational content for the insolvency practitioner and for the dedicated individuals who want to research and educate on matters of insolvency.

The ABI platform can be found at ABI.org and is the most comprehensive site on the issues of insolvency. The digital ABI platform generates and communicates information on global insolvency and insolvency opinions, and also maintains and upkeeps an insolvency-related blog, online educational sessions and its published journal.

The ABI Platform for Consumers

The ABI also offers consumer-specific information for those who are interested in gaining personal knowledge about bankruptcy and the alternatives to bankruptcy. The Consumer Bankruptcy Center, found at Consumer.abi.org, is a free service that was created to help the general public with understanding bankruptcy, how to file for bankruptcy and where to find local professional help.

The ABI Consumer Bankruptcy Center lists commonly asked questions and answers in regards to the consumer bankruptcy process. It provides individual consumers with links to credit counseling agencies and a free online version of the current Bankruptcy Code. If a person is interested in the help of an attorney, the Consumer Bankruptcy Center lists all the bankruptcy attorneys certified by the American Board of Certification.

The ABI states that personal bankruptcy issues in the United States grew to over 2 million cases in 2005. As a response, President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 into law. This act decreased the overall scope of relief and made it harder for consumers to qualify for debt relief eligibility. As a response, the ABI launched its initiative to help consumers overcome money problems, rebuild their credit and recover before or after bankruptcy.

RELATED TERMS
  1. Architecture Billings Index - ABI

    A leading economic indicator of demand for commercial and industrial ...
  2. Bankruptcy Court

    What is bankruptcy court?
  3. Voluntary Bankruptcy

    A type of bankruptcy where an insolvent debtor brings the petition ...
  4. Prepackaged Bankruptcy

    A plan for financial reorganization that a company prepares in ...
  5. Association Of British Insurers ...

    A trade association comprised of insurance companies located ...
  6. Bankruptcy Risk

    The possibility that a company will be unable to meet its debt ...
Related Articles
  1. Taxes

    Bankruptcy

    Learn what happens when an individual or an organization files for bankruptcy.
  2. Small Business

    Taking Advantage Of Corporate Decline

    A bankrupt company can provide great opportunities for savvy investors.
  3. Taxes

    Changing The Face Of Bankruptcy

    A 2005 law attempts to unmask fraudulent debtors and still save those who are struggling. Will it affect you?
  4. Financial Advisor

    Should You File For Bankruptcy?

    Find out how to determine whether this option will help or hurt your financial situation.
  5. Taxes

    How To Survive A Bankruptcy Filing

    Learn how to make filing for bankruptcy less painful so you can successfully rebuild your financial life.
  6. Taxes

    How to Hire a Bankruptcy Lawyer

    How do you find the right bankruptcy lawyer? What you should look for to determine the right attorney for you.
  7. Taxes

    How To Survive Bankruptcy

    Bankruptcy is not the end of the world. You can survive it and come out on the other side more financially solid.
  8. Personal Finance

    Life After Bankruptcy

    Find out what you have to look forward to after filing for Chapter 7 or 13.
  9. Personal Finance

    What You Need To Know About Bankruptcy

    Don't choose this last-resort option until you learn how it will affect your future.
  10. Retirement

    How Does Bankruptcy Affect Your IRA?

    Since 2005, money in your IRA can be protected if you are forced to file for bankruptcy.
RELATED FAQS
  1. What are the most important trading signals used with the Absolute Breadth Index ...

    Discover which trading signals technical analysts look for when utilizing the absolute breadth index, a non-standard volatility ... Read Answer >>
  2. What are the most common strategies for using the Absolute Breadth Index (ABI)?

    Read about some of the ways in which technical investors use the absolute breadth index to measure whether a market trend ... Read Answer >>
  3. How do I find a good personal bankruptcy lawyer?

    Read how to find a good personal bankruptcy lawyer, and learn how much you can expect to pay for services if you are considering ... Read Answer >>
  4. How will bankruptcy affect my ability to get credit in the future?

    Learn how filing bankruptcy affects your ability to obtain credit in the future, and find out how long a bankruptcy stays ... Read Answer >>
Trading Center