Are The Bankruptcy Law Changes The Seed Of Improvement?
The American congress made some significant changes to the bankruptcy laws. Such changes include reducing the relief provided in the chapter 13 bankruptcies and restricting the discharge of chapter 7 bankruptcies. The bill came into process from October 17 - 2005. There are indeed sweeping changes made to bankruptcy laws. But how the trustees and lawyers will interpret it is uncertain. There is a big deal of uncertainty involving such changes in bankruptcy law. The process of bankruptcy is now much more costly for the debtors and the court system is more intricate. The debtors have to go through more hurdles before declaring themselves bankrupt. ...
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