Summary
WASHINGTON -- The ranks of people seeking to erase their debts have thinned noticeably in the year since the biggest changes in U.S. bankruptcy laws in a quarter-century took effect.
At a public session at the U.S. Trustee's office in Alexandria, Va., on a recent morning, only about half the 50 or so chairs were occupied -- in a room that used to be jammed with anxious people and their attorneys.See the full content of this document
Extract
Bankruptcy Filings Fall in Year Since New Law
Most were there seeking to file under Chapter 7 of the U.S. Bankruptcy Code, which wipes the debt slate clean after certain assets are forfeited. The bankruptcy trustee's red-jacketed files on them land with a thwack on the official table, fattened by new documents required by the landmark bankruptcy law that ...
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