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New Bankruptcy Law – A Summary of Changes You Should Know About
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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, aka the “new bankruptcy law”, became effective October 17, 2005. The law introduces several changes to the existing bankruptcy rules. Some of these changes include the fact that potential bankruptcy filers must meet a “means test”. The test determines, whether you are eligible to file for bankruptcy or not.
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New Bankruptcy Law – Effects of Natural Disaster Victims
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You’ve heard of the new bankruptcy law, whether you plan to file for bankruptcy or not. The law referred to as The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, took effect on October 17, 2005. The law imposes restrictions on who can file for bankruptcy under chapter 7.
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New Bankruptcy Law – What is the “Means Test”?
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Effective October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, aka the “new bankruptcy law” became effective. The law imposes certain restrictions, when it comes to filing for bankruptcy. One of the new requirements mandates that bankruptcy filers pass a “means test”.
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Bankruptcy Law and How to Get Your Credit Back
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Personal Bankruptcy is legal procedures that enables a debtor to for the time being or lastingly avoid paying some of their personal debt unpaid. The US Congress enacted the existing bankruptcy code in 1978, and newly amended it in the spring of 2005.The objective of the legislation is to give relief and structure to those people of society who have gotten themselves so deep into debt they can not possibly pay back. Currently there are 2 forms of bankruptcy that are available for individuals: chapter 13 & chapter 7. |
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