The bankruptcy laws changed in 2005. Many people know the laws were changed, but few people really understand what the changes did. The most important thing to know is that Bankruptcy is still available, and works in much the same way it always has.
The rules are different, the paperwork harder, but bankruptcy is still available to help many people. The only real way to know is to talk to an attorney who can answer questions about your case.
I think that the biggest misconception is that the laws were changed to make bankruptcy unavailable. I have heard that some creditors are even telling people that they can't file bankruptcy because bankruptcy doesn't exist.
Please understand that bankruptcy did not go away, and if you might have been helped by bankruptcy under the old laws, you might still be helped under the new laws. Bankruptcy still exists to help people who are unable to pay off their debts and need help.
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