Free Credit Counseling New Jersey
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Credit counseling Are all counselors the same
By Talbert Williams
In April 2005, Congress passed legislation comprising the most sweeping changes in U.S. bankruptcy law in more than a quarter of a century. The law, known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, was intended to prevent consumers with problem debt from being able to easily have their debts eliminated in court.
Under the old law, those with problem debt could file under Chapter 7 of the Federal Bankruptcy code; new filers will probably have to file under the more strenuous Chapter 13, which requires a repayment plan. Another provision of the new law requires anyone considering filing for bankruptcy to first submit to credit counseling prior to filing...
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