What is bankruptcy reform act of 2001?

The United States Bankruptcy Reform Act was adopted in 2001. The law was written to change the earlier legislation on bankruptcy. Respects the laws that are established at the federal level of the State in this law. BankruptcyThe bankruptcy basis requirements for bankruptcy reform act of 2001 sets. This section of the Act the debtor training test programs and schedules of reasonable expenses were set established.Consumer Protectionthe bankruptcy reform act of 2001 also laws in place to protect of consumers. Written support.Abusive FilingThe therefore laid down sanctions Act of creditors with legislation sets and abuses on the payment of child prevents unnecessary bankruptcy filing bankruptcy law reform abuse of the deposit and the regulations concerning submission bankruptcy define parameters. This law advises several deposits by limiting the possessions the debtor unable to keep the filing of bankruptcy is. Many of the debtor's assets are collected for the payment of debts.