Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Resources
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Bankruptcy Abuse Prevention and Consumer Act Makes Chapter 7 Harder

After passing through the Senate with a vote of 74-25, the Bankruptcy Abuse Prevention and Consumer Act of 2005 passed the House 302-126. The final step in its journey is the White House where it will be signed into law shortly after.

The primary purpose of the bill is simple: those who try to file for Chapter 7 bankruptcy will now have a harder time doing so. This is to weed out those would-be filers who are searching for a way to avoid paying their debts. Essentially the bill states that your income must be below that of the state median income or else your filing will be dismissed. Instead, you will become eligible for Chapter 13 bankruptcy, the less appealing plan for many who are seeking bankruptcy protection.

In addition to forcing more people to file for Chapter 13 bankruptcy, the new bill will impact credit scoring models.

If you are considering bankruptcy as a solution to your financial problems, contact us now to discuss your options with a Chicago bankruptcy lawyer.

Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100