President Bush signed the new Bankruptcy Reform Act into law around April of 2005. This law went into effect in October of 2005. This means that filing a chapter seven bankruptcy is not as easy as it once was. Let’s get on the Internet and do some research to find out:
How did the new bankruptcy law change the parameters of the Chapter seven bankruptcy?
How Consumer Credit Counseling companies can help some individuals avoid the bankruptcy option? How do they work? Do they charge a fee? Would you recommend this as a possible alternative to bankruptcy? Why or why not?
please show all the work you have done on this and someone will be happy to critique you on it!
That is what I did on my post before and no one critiqued it. Writeteacher was kind enough to do the grammar. That is why I posted the question only on this one.
soory yo !
Will you be able to help me?
Absolutely! I'd be happy to help you with your research. Let's break down your questions one by one and find the information you need.
1. How did the new bankruptcy law change the parameters of the Chapter seven bankruptcy?
To find information on this, we can start by searching for reputable sources that discuss the Bankruptcy Reform Act of 2005 and its impact on Chapter 7 bankruptcy. You can use search engines like Google or Bing to find relevant articles, news reports, or official government websites. Look for sources such as legal websites, law firm blogs, or news outlets that specialize in financial and legal matters.
When conducting your search, use keywords like "Bankruptcy Reform Act of 2005," "Chapter 7 bankruptcy changes," or "impact of new bankruptcy law." Scan through the search results and click on trusted sources that provide comprehensive explanations of the changes.
Once you find trustworthy sources, read through the information provided to understand how the new law modified the eligibility requirements, income thresholds, and other parameters for filing Chapter 7 bankruptcy. Take notes or bookmark relevant pages that outline the changes, as they will help you form a comprehensive answer.
2. How can Consumer Credit Counseling companies help some individuals avoid the bankruptcy option? How do they work? Do they charge a fee? Would you recommend this as a possible alternative to bankruptcy? Why or why not?
To research this topic, you can use the same approach as above. Look for reputable sources that discuss Consumer Credit Counseling companies (also known as CCCs) and their role in helping individuals avoid bankruptcy. Focus on resources like financial advice websites, personal finance blogs, and non-profit credit counseling organizations.
Using search engines, enter keywords such as "Consumer Credit Counseling companies," "role of CCCs in avoiding bankruptcy," or "how CCCs work." Look for articles and guides that explain the services offered by CCCs, their methods, and success rates in helping people manage their debts.
When gathering information, pay attention to how CCCs operate, the types of financial counseling they offer, and whether they charge a fee for their services. Take note of any potential drawbacks or limitations associated with CCCs as well.
Based on the research, you can form an opinion on whether you would recommend CCCs as an alternative to bankruptcy. Consider factors such as the individual's financial situation, the effectiveness of CCCs in addressing their specific debt issues, and any potential long-term consequences of avoiding bankruptcy.
Remember to critically evaluate the sources you come across during your research, considering their credibility, authority, and relevance.