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How will the new bankruptcy law affect my ability to obtain a discharge?

April 26, 2017ability affect Bankruptcy Discharge Law obtain

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How will the new bankruptcy law affect my ability to obtain a discharge?

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The new bankruptcy law prevents debtors who make above a certain income level and have a disposable income greater than approximately $100 (the means test ) from filing for Chapter 7 bankruptcy. These debtors must file under Chapter 13 instead. The new law also requires that debtors take a credit counseling course prior to filing bankruptcy and a financial management course prior to receiving a discharge. There are also increased attorney responsibilities, higher filing fees , and increased documentation requirements.