The most significant revisions to the U.S. Bankruptcy code include mandatory credit counseling, a financial means test, adaptation of residency requirement, confirmation of merit by attorney, decreased automatic stay protection, and prior tax return documentation. Explanations for each of these are provided below in a simple and easy to read format.
New Bankruptcy Laws
All New Bankruptcy Laws Articles
2006 Median Family Income by State
Source: U.S. Census Bureau, 2006 American Community SurveyAttorney Verification
Attorneys are now personally liable for the validity of the information contained within a bankruptcy petition. Opponents of the law became concer...Automatic Stay Provision
The automatic stay provision of the bankruptcy code provides protection for petitioners against ongoing legal proceeding by creditors.Chapter 7 an Option
You may have heard people say that it has gotten difficult to file for Bankruptcy. You may have heard that the laws have changed and you cannot file...Credit Counseling
Credit Counseling The first aspect of bankruptcy and credit each person should be aware of is the time a bankruptcy remains recorded in public court...New Bankruptcy Laws
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) passed October 17, 2005, is considered the most sweeping bankruptcy reform of our...The Means Test
The Means Test was added to the bankruptcy code with the intention to remove the excessive abuses of the bankruptcy protections. The Internal Revenu...The Next Bankruptcy Reform
The current bankruptcy laws have become the source of malcontent for hard working people attempting to hold on to what they have, legislators who in...Types of Personal Bankruptcy
Chapter 7: Total Liquidation Bankruptcy Primary Purpose: Discharge of all permissible debts without any repayment plan.Attorney Search
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