If it has been a while since you’ve learned anything new about bankruptcy laws in the country, Holly H. Hines has got your covered. A noted a bankruptcy attorney serving Worcester County in Massachusetts, Hines is a graduate of the Massachusetts School of Law and a member of the National Association of Consumer Bankruptcy Attorneys, among other organizations.
Bankruptcy law is a field that is always changing and growing. Since 2005, the Bankruptcy Prevent and Consumer Protection Act has made some real changes to the whole system, and I think many of those changes to the law have probably resulted in a lot of new case law over the last few years.
Because of this, we would probably have to look up specific examples if a new question does rise, and if there was any change. But it is partially because of the implementation of the 2005 bankruptcy protection act that so much has changed and grown within our area of law recently.
What the 2005 act really did is it put some new guidelines in place and some thresholds in place, and now we are just waiting to have a look and see how those changes are affecting the particular consumers at hand.
For the most part, I don’t think any of these changes have affected the sheer number of filings much. The typical household is still able to file the Chapter 7 bankruptcy if they need to liquidate their consumer debt, even though one myth out there right now is that filing for Chapter 7 is nearly impossible.
People seem to think that folks are no longer able to file for a Chapter 7 bankruptcy because of the income limits and because they make too high of a salary. They tend to think that because the 2005 act put in a median income threshold that is required to file, that based on their household size they would not be able to qualify anymore. But for the most part that is not the case, and the 2005 act still does allow for many debtors to file for a Chapter 7 bankruptcy.
When people are looking for an attorney, though, they should definitely search for someone who is up-to-date on the most recent changes in bankruptcy law in order to get the best representation in their case.
This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.
