Other New Restrictions
Tuesday, February 19th, 2008
Among some of the other new restrictions of chapter 7 bankruptcy laws are provisions requiring the creditor gets a notice of the filing within 90 days. Also, there are more exceptions to the items one can discharge from debt under chapter 7 bankruptcy laws. Although certain types of liens were avoidable in the Chapter 7 process, the new requirements render it more difficult to achieve such avoidances; for example, fewer household items can be defined as household goods. Plus, the way exemptions are claimed has been adjusted by the new laws, as well.