The Sky is not Falling
It was encouraging to hear a non-apocalyptic BARF story today on National Public Radio. [you can listen to the broadcast here] On the News and Notes show, Pittsburgh bankruptcy attorney Robert Williams gave a calm and concise overview of BAPCPA. When asked whether individuals considering bankruptcy should rush out and file before the new law goes into effect, he cautioned against it. Instead, he suggested that such individuals should seek "experienced legal professionals," who will ultimately learn how to get the most for their clients under the new law. Although he recognizes that under the means test, some debtors will have a harder time qualifying for relief under new Chapter 7, many individuals in need and who can show they have special circumstances should be able to find "variances" in the law to escape the preclusive effect of the means test.
In other words, reports of death of bankruptcy have been greatly exaggerated. The public needs to know that the sky is not falling, and Mr. Williams has done an excellent job of keeping it informed.
