Bankruptcy
	Overview
	Check Pricing
	3-Step Process
	Why LegalZoom?

Education Center
	Bankruptcy Education
	FAQ
	Glossary

LegalZoom Customer Support (800) 488-1800

Home | More Legal Documents | Bankruptcy

Bankruptcy

1.	Introduction to Bankruptcy
2.	Types of Bankruptcy
3.	Who can file
4.	The Process
5.	Credit Counseling
6.	New Laws
7.	Saving Your Home and Car
8.	Personal Property Exemptions and Other Assets
9.	Credit Card Debt
10.	Other Debt
11.	Married Couples
12.	Common Mistakes
13.	Alternatives to Bankruptcy

6. New Laws

Congress made some significant changes to bankruptcy laws in 2005. The main purpose of these changes is to make it a little more difficult to file for bankruptcy. Nonetheless, the ability to file for bankruptcy and obtain a fresh start is an important and long-standing part of American law and people who need bankruptcy relief can still get it.

Get your free bankruptcy evaluation today

Some of the most important changes to bankruptcy laws are:

Higher income filers must file for Chapter 13
Filings are more closely scrutinized and more documentation is required
Lawyers are harder to find and more expensive
Credit and financial budget counseling is required
Property must be valued at replacement cost, instead of a "fire sale" cost
State exemptions are not available to recent state residents (although exemptions are available, just maybe not the exemptions provided by the state where you currently reside).
Residency requirements have been tightened to prevent people from moving to states that allow a person to protect more equity in their personal residences.

Start the Process

LegalZoom Newsletter

Choose Another Document

Small Business Resources

Sitemap

800-773-0888

Click here for our full disclaimer. Click here for site directory.

ABOUT SSL CERTIFICATES