Key Changes In The New Bankruptcy Laws
It is very important for both the debtors and the creditors to be aware of the new bankruptcy laws because the more informed they are the better they will be able to defend their respective claims. Following are some of the key changes that the new bankruptcy laws have brought to the bankruptcy code. These changes are effective from October 17, 2005. Means Test Now choosing the type of bankruptcy is no more a matter of choice. If you are planning to file for bankruptcy, the bankruptcy court will ask you to pass the Means Test and based on the results of the test, the court will decide which type of bankruptcy is best suited for your specific bankruptcy case. ...
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