rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 12:20 pm Post subject: hi |
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After a job loss or drop in income many people struggle to meet their financial obligations. Through the work of a bankruptcy attorney many people have been able to erase their debts and breathe freely once more. For many people the thought of filing bankruptcy is one that makes them cringe. With a blemish that stays on a credit report for ten years the anguish of facing a bankruptcy is something that is considered taboo by many individuals. Although there are repercussions of filing for a bankruptcy there are also many benefits to gaining a fresh start in life. The Bankruptcy Abuse Prevention and Consumer Protection Act, or BAPCPA, has restructured and restricted many of the basic standards of bankruptcy in the United States. However, as these rules have created a bankruptcy code that is more exclusive than under prior code iterations, there remain important exemptions to each of the major additions made under BAPCPA. In particular, the means test, which is perhaps the strongest addition to the national bankruptcy code, has a few exemptions permitted for those debtors in specifically enumerated situations.
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