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When did new bankruptcy laws go into effect?

Updated: 8/18/2019
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14y ago

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On October 17, 2005, new bankruptcy laws went into effect as a result of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The old rules allowed most filers to choose between Chapter 7 or Chapter 13, and most chose Chapter 7 because it allowed for the complete elimination of debts without repayment . The new law prohibits filers with higher incomes from filing under Chapter 7.

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Q: When did new bankruptcy laws go into effect?
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No. Some things may go into effect, but things are not totally ironed out with creditors.


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How do I find out more about bankruptcy law?

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