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Article: James McMahon, Senior Vice President of Lending, Financial Partners Credit Union, Comments on The New Bankruptcy Law -- How Will it Affect You.
- Article from:
- Business Wire
- Article date:
- November 2, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DOWNEY, Calif. -- The following is an opinion editorial provided by James McMahon, Senior Vice President of Lending, Financial Partners Credit Union:
The New Bankruptcy Law; How Will it Affect You
October 17, 2005 the new Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 went into effect. The new bankruptcy act which was signed April 20, 2005 was developed to continue to provide bankruptcy protection to citizens in need of assistance yet prevent repeat bankruptcy filers from abusing the system. To remedy this situation several changes were made to the current procedures for filing bankruptcy.
Chapter 7 vs. Chapter 13
In ...