New Bankruptcy Law

Congress created a new bankruptcy law in 2004.  The major impact of this new bankruptcy law created qualifications for Chapter 7 filers.  A Chapter 7 bankruptcy filing discharges all of the debtor's debts and allows for a fresh start.  To be eligible for Chapter 7 under the new bankruptcy law a maximum debt level and maximum asset level must not be exceeded by the debtor.

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New Bankruptcy Law Resources

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