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  • From: Rob <becida AT comcast.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Bankruptcy filings soar as change in law nears
  • Date: Sun, 02 Oct 2005 10:44:49 -0700

An interesting article.

http://159.54.227.3/apps/pbcs.dll/article?AID=/20051002/BUSINESS/510020377/1003

>>The intensified interest comes from the bankruptcy law makeover signed by President Bush on April 20, a 501-page bill that bears the markings of the Republican-dominated Congress that passed it after an eight-year campaign headed by the banking, credit card and retailing industries.

Among the most noteworthy of the changes are new limitations on filing for personal bankruptcy, including barring those with above-average income from Chapter 7 -- where debts can be wiped out entirely -- except under special circumstances. Those deemed by a "means test" to have at least $100 a month left over after paying certain debts and expenses will have to file a five-year repayment plan under the more restrictive Chapter 13 instead.<<



  • [Homestead] Bankruptcy filings soar as change in law nears, Rob, 10/02/2005

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