Is it harder to file bankruptcy nowadays?
Filling for bankrupty can be stressful enough issue however, this can be useful in resolving financial problems.
A. Yes and no. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) brought on new requirements when seeking to file bankruptcy, including a means test for people looking to file Chapter 7 bankruptcy, and a mandatory credit counseling briefing prior to filing bankruptcy and a stipulated debtor education course after filing but before receiving a discharge for all consumer debtors. While these stipulations have brought on more work for both debtors and bankruptcy attorneys, most people have found that they have still qualified for bankruptcy after the new law.
