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Law Change

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What is the name of your state? What is the name of your state? What is the name of your state? - New Jersey
Has anyone heard of when the law change will take effect. I am still trying to avoid bankruptcy but not sure I can and if I need to file it will be before the law change can anyone tell me the status of the law. I have tried to search read and understand how it will change and what it will effect and am getting no where understanding if it matters or not.


Senior Member
The new legislation is still hung up in committees.. at least the last time I looked. If they ever agree and it goes to the President to sign, it will take 180 days AFTER he signs it before it becomes law.

Basically, the new legislation will make it extremeley hard for people to get relief under Ch. 7 and will force most people into a Ch 13 repayment plan. For the most part MBNA and one or two other credit card companies have spent massive amounts of money in 'contributions' (can you say "bribe"?) to politicians to push this legislation thru. They pretty much are saying that everyone filing for bankruptcy are shifty, immoral, deadbeats who just refuse to pay their bills !


Senior Member
Go to www.clla.org and scroll to near the bottom of the page for a link that compares the House and Senate versions of the proposed legislation. As Ladynred says, it'll be more timeconsuming and expensive to file bk.

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