310.376.9865
October 17, 2013 Bankruptcy celebrated its 8th Birthday.
Well, to be a little more precise, it was 8 years ago that the “Bankruptcy Abuse Prevention and Consumer Protection Act” took affect.
The Bankruptcy laws were revised ostensibly to reduce abuse of the bankruptcy system and shift more debtors in to a repayment plan.
Large banks spent millions of dollars in lobbying efforts to have our congress change the law. Overall, there has been little impact.
The new law changed the timeline as to how long before a debtor can refile a Chapter 7 bankruptcy. Under the previous law, a debtor was required to wait 6 years to refile a Chapter 7 bankruptcy, the new law requires an 8 year wait to refile.
Happy Birthday BAPCPA.
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Los Angeles/Orange County Chapter 7 Bankruptcy Attorney- A Debt Relief Agency.
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
