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.
References in periodicals archive ?
Note, "Debt Relief Agencies:" Does the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 Violate Attorneys' First Amendment Rights?
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 initially reduced the number of individual bankrupt cy filings, but that reduction appears to be temporary.
He pointed out that he was one of the few Democrats in Congress to vote for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
For these, and numerous other issues related to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (Bankruptcy Act) and its impact on current practices, businesses and financial advisors can now look to 2005 Bankruptcy Revisions: Implications for Businesses and Financial Advisors.
The recent passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 is the culmination of more than a decade of bankruptcy reform debate in Congress.
DAYTON, Ohio -- Nearly one year has passed since enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (Oct.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (referred to hereafter as the Reform Act) included provisions to better inform individuals who file for personal bankruptcy about their options for reaffirming debt--whereby filers may voluntarily agree to pay certain creditors in an effort to retain assets, such as an automobile.
This new version of the company's popular program for bankruptcy filings has new and amended forms to comply with the Interim Rules and Official Forms implementing The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
0, Blumberg's bankruptcy software with new and amended forms to comply with the Interim Rules and Official Forms implementing The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 is excluded from this sale.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) is the most sweeping reform of the laws and regulations on bankruptcy in decades.
DAYTON, Ohio -- With the extensive changes brought about by the recently enacted Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the legal community, including business and consumer bankruptcy practitioners, is facing a great deal of uncertainty about the impact of this sweeping legislation.
October 17, 2005 the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 went into effect.