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Ethical and Unethical Behavior in a Bankruptcy Setting

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Distinguish between ethical and unethical behavior in a bankruptcy setting. Mention the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 in your response.

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There is much emotion connected with bankruptcy which tends to result in hard opinions about what is right and what is not. Therefore, the following responses are opinions that may not agree with everyone, every time.

One major advancement in bankruptcy law was the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The purpose of the law was to prevent consumers from abusing the system by having debts easily cancelled, but it also provided a framework for repayment monitored by the court. ...

Solution Summary

The 350 word cited solution explains recent changes in bankruptcy law to limit abuse. It also includes six statements considered ethical and six statements considered unethical.