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Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 |
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Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 United States legislation that made it more difficult to file Chapter 7 bankruptcy, instead encouraging Chapter 13. It requires persons with incomes over the median income in their state to calculate their incomes relative to what are considered reasonable expenses. Those with incomes over a certain amount are not allowed to file Chapter 7, which would forgive all debts not repaid. This and some other provisions in the bill were specifically designed to make it more difficult to file bankruptcy in the United States. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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