New Bankruptcy Laws
The new bankruptcy laws make it somewhat harder for many people to file bankruptcy. Read
the amendments of the bankruptcy laws below. The new bankruptcy laws introduce the requirements for anyone filing
bankruptcy to undergo a program before filing for bankruptcy and a different financial program after the bankruptcy
filing is done.
New bankruptcy laws - amendments of the old bankruptcy laws
Credit counseling before filing bankruptcy
In 2005, the US Bankruptcy Code was amended. The new bankruptcy laws require that most
individual debtors complete a special briefing from an approved credit counseling agency 180 days before filing for
Financial Management Course after filing bankruptcy
The new bankruptcy laws also require that bankruptcy filers complete a financial
management instructional course after filing bankruptcy.
In most states, the Executive Office of the United States trustee (a component of the US
department of Justice) is responsible for approving the credit counseling agencies that offer this
special pre- bankruptcy filing briefing. The US bankruptcy trustee is also responsible for maintaining a list
of approved credit counseling agencies.
In the six districts located in Alabama and North Carolina,
credit counseling agencies are approved by the bankruptcy administrator assigned to the
Contact information for the approved credit counseling
agencies in those states can be obtained from the district's bankruptcy administrator or from
the United States bankruptcy court.