New Bankruptcy Laws

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.

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All New Bankruptcy Laws Articles

2006 Median Family Income by State

Source: U.S. Census Bureau, 2006 American Community Survey

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Attorney Verification

Attorneys are now personally liable for the validity of the information contained within a bankruptcy petition. Opponents of the law became concer...

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Automatic Stay Provision

The automatic stay provision of the bankruptcy code provides protection for petitioners against ongoing legal proceeding by creditors.

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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...

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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...

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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...

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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...

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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...

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Types of Personal Bankruptcy

Chapter 7: Total Liquidation Bankruptcy Primary Purpose: Discharge of all permissible debts without any repayment plan.

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