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New Bankruptcy Law Gives Attorneys Headaches

Law360 (January 30, 2006, 12:00 AM EST) -- Just a few months after the passage of the biggest overhaul of U.S. consumer bankruptcy law in recent history, attorneys and judges are beginning to see what they say are clear signs the reform isn’t living up to its promise.

In the most significant revamping of the U.S. Bankruptcy Code since 1978, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) went into effect last October amid hopes that tighter restrictions would weed out spendthrifts who use bankruptcy protection as a means to evade debt repayment....
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