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More Than One Way Out -
Personal Bankruptcy, Consequences, and Alternatives |
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Bankruptcy offers benefits, but it also carries significant consequences. The decisions you make when facing financial difficulty will affect your life for many years to come, so it is important to approach the issue of personal bankruptcy with care. More Than One Way Out does not provide "right" or "wrong" answers because the solutions to individuals' financial problems will vary with their personal circumstances. It discusses the consequences of bankruptcy, introduces some possible alternatives, and helps you understand both the benefits and the risks of these alternatives. Available in Spanish. Online education course available only in English. For more information or to preview this book click here.
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Live a Richer Life -
A Roadmap to Personal Financial Health Following Bankruptcy |
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Bankruptcy has either completely or partially discharged your debts. On the other hand, your bankruptcy also will have some unpleasant side effects. But the most important fact about your bankruptcy is that it has given you an opportunity to retake control of your financial life. Live a Richer Life was written with the bankruptcy filer in mind, but the principles and practices discussed in this book are valid for any person who is interested in long-term financial health. Available in Spanish. Online education course available only in English. For more information or to preview this book click here. |
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The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCA)
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which opens a new era in the history of bankruptcy law and practice, was passed by Congress and signed into law by President Bush on April 20, 2005. The United States Trustee Program is the component of the Department of Justice that protects the integrity of the nation's bankruptcy system by overseeing case administration and litigating to enforce the bankruptcy laws. The Act gives the U.S. Trustee Program new responsibilities in a number of areas, including:
- Implementing the new "means test" to determine whether a debtor is eligible for Chapter 7 (liquidation) or must file under Chapter 13 (wage-earner repayment plan);
- Supervising random audits and targeted audits to determine whether a Chapter 7 debtor's bankruptcy documents are accurate;
- Certifying entities to provide the credit counseling that an individual must receive before filing bankruptcy;
- Certifying entities to provide the financial education that an individual must receive before discharging debts; and
- Conducting enhanced oversight in small business Chapter 11 reorganization cases.
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The NFCC Vision is to create a national culture of financial responsibility.
NFCC 2000 M Street, NW Suite 505, Washington, DC 20036 (202) 677-4300 Contact Us©2012 National Foundation for Credit Counseling
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