Here is an article from Credit.com…
The legislation was meant to reduce the number of people filing for bankruptcy unnecessarily. It was also aimed at guiding more debtors into Chapter 13 bankruptcy, in which people have to repay debts within five years. In contrast, Chapter 7 bankruptcy liquidates borrowers’ assets and cancels remaining debt.
Click here..
http://www.credit.com/news/credit-debt/2009-03-24/bankruptcy-reform-reconsidered.html
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