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New 2010 Bankruptcy Law Changes
Changes have been made to the bankruptcy laws in 2010.
The new amendments to the U.S. Bankruptcy Code have seen changes to Chapter 7, making a Chapter 7 bankruptcy filing harder.
The changes also make elimination of certain debts more difficult to be removed through the process and is set to impact higher income and middle income groups when filing Chapter 13. If the total household income is higher than the state average, then those need to be filed under Chapter 13. These changes apply when the majority of the earners in the house have an average income more than the state average. The changes also include suggestions to increase attorney fees. It has also been noted that the increase in bankruptcy filings is due to the large number of credit card debts. For more information on your city, visit collection agency by city and contact us for further information.
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