Bankruptcy Filings Up, But Some Believe Impact on Debtors Not Too Severe

Posted on August 29, 2005 by Kevin Chern Esq.

Bankruptcy filings topped more than 467,000 during the second quarter of 2005, according to the Administrative Office of the U.S. Courts. Most of those filings were personal bankruptcy filings aimed at beating the Oct. 17 deadline imposed by BAPCPA.

There is no doubt that the law changes make filing for bankruptcy more difficult for both debtors and attorneys. What remains to be seen is whether the changes will make it harder for many people to qualify for bankruptcy protection, as many opponents of the new laws fear.

A recent study by Best Case Solutions, a company that specializes in legal software, suggests 85 percent of debtors who file bankruptcy will still be eligible to file under Chapter 7.

Tags:
Trackbacks (0) Links to blogs that reference this article Trackback URL
http://blog.startfreshtoday.com/
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.