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To: kittymyrib
The rules for Ch. 7 have been changed. You now have to come up with a repayment schedule when you file bankruptcy.

Common misconception. The recent amendments to the bankruptcy code (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA)) do NOT get rid of Chapter 7 discharges.

In fact, it may even be easier. Time will tell, but that's what the consumer bankruptcy lawyers are saying.

It does throw a couple of procedural roadblocks in the way, but those are easily surmounted.

202 posted on 01/30/2006 6:22:21 AM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: CobaltBlue

The new law basically says you must try a repayment plan or "consumer credit counseling" first before you can file Chapter 7. And-if you make more than the median income for your area you generally can't file a 7, but even in those cases I think it can be done in these types of circumstances.


203 posted on 01/30/2006 6:23:47 AM PST by RockinRight (Attention RNC...we're the party of Reagan, not FDR...)
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