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The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made changes to American bankruptcy laws, affecting both consumer and business bankruptcies. Many of the bill's provisions were explicitly designed by the bill's Congressional sponsors to make it "more difficult for people to file for bankruptcy."
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
The history of bankruptcy law in the United States refers primarily to a series of acts of Congress regarding the nature of bankruptcy.As the legal regime for bankruptcy in the United States developed, it moved from a system which viewed bankruptcy as a quasi-criminal act, to one focused on solving and repaying debts for people and businesses suffering heavy losses.
Brick-and-mortar retailers and several major restaurant chains had already been on the decline before the coronavirus hit, but the pandemic turned out to be the nail in the coffin for several ...
The report by the Student Borrower Protection Center is the first estimate of how much private student loan debt may be dischargeable in bankruptcy.
Based on his research of bankruptcy cases, an estimated "60% of people who attempt to discharge their student loans in bankruptcy are successful." ' This is the first time it’s been bipartisan'
A bankruptcy petition preparer is a person who is not an attorney or an employee of an attorneys who prepares a document for filing in the United States Bankruptcy Court for another person. Bankruptcy petition preparers are authorized in the bankruptcy code under 11 U.S.C. §110, [ 1 ] but are limited in the services that they provide direct to ...
A new ruling found that a Colorado couple’s private student loans could be discharged when a borrower files for personal bankruptcy. Judge: Colorado couple could see $200,000 in student debt ...