The consumer bankruptcy bar is lining up against legislation designed to curb the 1.4 million personal bankruptcies filed annually and rein in some of the country's $40 billion in consumer debt. A controversial provision of the Bankruptcy Reform Act of 1999 would implement a means test to determine who is eligible for Chapter 7. "It's hard to develop a good unified system sometimes in the meat grinder of politics," said Peter Califano, a bankruptcy lawyer in San Francisco.
July 23, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The consumer bankruptcy bar is lining up against legislation designed to curb the 1.4 million personal bankruptcies filed annually and rein in some of the country’s $40 billion in consumer debt.
A controversial provision of the Bankruptcy Reform Act of 1999 would implement a means test to determine who is eligible for Chapter 7, the most lenient type of personal bankruptcy.
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