The biggest change is the requirement to take the "means test", which means your income is compared to the median income in Arkansas. If you make more than the median, you do not qualify to file a Chapter 7 bankruptcy and are required to file a Chapter 13 with a 5-year plan. You will be required to take a consumer credit counseling course before you can file. We can help you with this requirement, which usually means a 30-minute phone call to evaluate other options open to you. If you have filed bankruptcy in the past 8 years, the law may affect parts of your bankruptcy now. There are many other complex changes in the law. Please call our office for a free first visit so we can tell you if there are any other ways the laws affect you.
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