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President Bush signed the new Bankruptcy Reform Act into law around April of 2005. This law went into effect in October of 2005. This means that filing a chapter seven bankruptcy is not as easy as it once was.

How did the new bankruptcy law change the parameters of the Chapter seven bankruptcy?
How Consumer Credit Counseling companies can help some individuals avoid the bankruptcy option? How do they work? Do they charge a fee? Would you recommend this as a possible alternative to bankruptcy? Why or why not?

Once you write up your response to these questions, please re-post so someone here can critique your work.


With all due respect, I have been providing responses to every problem that I have posted so far. The resplies that I have received are basically "well done" and other not so qualitative reponses. I am asking for someone's help, just HELP. Maybe some links here and there or better off, someone's own thoughts and opinions of the subjected matter. With this I can make an analysis and provide a who just want answers.

If you put the academic subject you need help with in the subject line, you're likely to receive better, faster help. "I need help" is not a subject; it causes people who have expertise in your need area to waste time and/or maybe never read your question.

Please be sure to put the academic subject in there -- in this case Econ or Government or whatever is accurate.



Student needs help in econ matters. Can our math/econ/stat teachers help?


Sorry, I really don't know much about bankruptcy law. I know even less about the specifics of the new bankruptcy law just enacted. The ideal expert needed to help this student is an accountant or a bankruptcy lawyer. I am not aware of a regular Jiskha assistant with expertise in these areas. I do know that the new law represents a major reform. So, I'm sure there are boatloads of stuff written about it. Google is the place to start.
Lotsa luck.

the price of pizza caused more people to buy hamberger, what type of change would that be?

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  1. A chapter 7 bankruptcy will be harder to get. Your income and assets will determine if you qualify for a chapter 7. You will need to prove that you have no other alternative, and you will need to take a mandatory credit counseling course approved by your attorney. The fees to file for bankruptcy has gone up, it cost roughly $1,000.

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