Has the bankruptcy process changed over the years?

For the most part, the overall bankruptcy process has remained constant over the years, though it has undergone some changes. For instance, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has led to several changes for bankruptcy eligibility, but many aspects of bankruptcy have stayed the same, including:

• Different forms, like Chapters 7, 11, 12, and 13
• Ability of both individuals and businesses to file for bankruptcy
• Offering financial restructuring
• Preventing creditor harassment

Many debtors have discovered that bankruptcy can be a beneficial option for them if they find themselves facing overwhelming debt.

Contact Us

If you or someone you know is thinking of filing for bankruptcy and has questions about the process, contact an experienced Chicago bankruptcy attorney of the Law Office of Stuart B. Handelman today by calling 312-360-0500.