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    Bankruptcy Laws Changed

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    Just so you can have an idea of what our discussion debate was about: In October of 2005, our bankruptcy laws were substantially changed. In particular, the new law makes it harder to file for Chapter 7 and changes the Homestead Exemption.

    In my case I was assigned to argue against this law such as 'What did it change; why were those changes bad? I answered this questions already I only need help with this last question please.

    Do you think that the new laws will cause a decline in bankruptcy filings in the long run or will they pretty much stay the same?

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    https://brainmass.com/business/financial-distress-and-bankruptcy/bankruptcy-laws-changed-438145

    Solution Preview

    I do not think that the new laws will cause a decline in bankruptcy filings in the long run. I just think that the chapter of bankruptcy that an individual files will change. Many people that need to file bankruptcy, is usually because they have racked up a large amount of credit card debt. This ...

    Solution Summary

    This solution assists in discussing declines in bankruptcy filings.

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