Asked by Shane 2Wavyy on Jul 11, 2024

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In which of the following did Congress make comprehensive changes to bankruptcy law?

A) The Bankruptcy Trust, Reconciliation, and Remedial Amendments of 2000
B) The Bankruptcy Fraud Protection Act of 2007
C) The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
D) The Bankruptcy Fraud and Consumer Shield Act of 2006
E) The Insolvency Protection Amendments of 2006

Bankruptcy Abuse Prevention

A set of laws or measures designed to prevent individuals or entities from wrongfully or fraudulently declaring bankruptcy to avoid debt obligations.

Consumer Protection Act

Legislation designed to safeguard the rights of consumers, ensuring they are protected against unfair trade practices and have access to information regarding goods and services.

Bankruptcy Law

The body of laws that govern the legal process for the resolution of financial distress of individuals and businesses under various chapters of the Bankruptcy Code.

  • Identify key legislative changes to bankruptcy law and their implications.
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JM
Jacob MarcanoJul 13, 2024
Final Answer :
C
Explanation :
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) made comprehensive changes to bankruptcy law, aiming to make it more difficult for individuals to file for Chapter 7 bankruptcy and encouraging Chapter 13 filings, where debtors repay debts according to a plan.