Even before the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,
individuals expressed concerns that the ability to file bankruptcy would cease to exist for
consumers and businesses. Nothing has been farther from the truth. For instance, in the twelve-month
period ending December 31, 2010, businesses filed 56,282 bankruptcies, and consumers filed 1,538,799
bankruptcies. Clearly, while the 2005 Act changed the rules, bankruptcy remains a viable option for
those in...
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