Recently the latest bankruptcy law has been effective and has changed the rules to file bankruptcy considerably. If you are having doubt to the exact changes, just read this article. It explains the basics of the latest bankruptcy  law.
The latest bankruptcy law has brought a lots of changes to the process of filing bankruptcy. Following are the key changes :

Credit Counseling –

The updated bankruptcy law states that anybody who is planning for the bankruptcy should complete credit counseling with an agency which are approved by the US trustee’s office. Once the bankruptcy case has been finished, filers should be still attending another counseling session to know more about individual monetary management. Continue reading →