A decade ago, there was a lot of controversy about whether or not bankruptcy reform was necessary and what form it should take. After a lot of back and forth debate, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was drafted and enacted in both the House and Senate in 2005, leading to the most substantive revisions to the Bankruptcy Code in decades.
Advocates for the BAPCPA claimed that reform was necessary in order to prevent fraud and abuse. Although there was no evidence of widespread abuse of the bankruptcy system, it was this call to action that led … Read the more
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