How does the new bankruptcy law affect my ability or eligibility to file for bankruptcy relief?
Under the new law, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, (BAPCPA), sometimes called the Bankruptcy Code, you still have the right to file for either Chapter 7 or Chapter 13 bankruptcy relief. There are, however, new requirements to satisfy prior to being eligible to file. Two of the new requirements are: • First, you must complete a consumer credit counseling course through an approved agency. This must be done within one hundred eighty (180) days prior to filing. • Second, you will need to complete what is known as a “means test” to determine whether you are eligible to file for a Chapter 7 or if you will need to file a Chapter 13.
Related Questions
- How will the Bankruptcy Abuse Prevention and Consumer Prevention Act (BAPCPA) affect my ability to file a bankruptcy petition?
- If Congress succeeds in passing the Bankruptcy Reform Act, how will it affect my ability to file bankruptcy?
- How does the new bankruptcy law affect my ability or eligibility to file for bankruptcy relief?
