New Year, New Bankruptcy Laws?

The start of a new year is typically a time to reflect on the past and look forward to the future. This year, those with serious financial troubles may be wondering if 2021 will bring positive changes in the form of new bankruptcy laws? For many families struggling with debt, the answer is yes.

New legislation set to come into effect in 2021 promises to make filing for bankruptcy easier, faster and more affordable than ever before. In an effort to help struggling Americans find relief from their mounting debts, several key provisions have been added that simplify and reduce costs associated with filing for bankruptcy. These include allowing consumers to file without paying upfront attorney fees, as well as making it easier for filers who qualify for Chapter 7 or Chapter 13 bankruptcies.