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Reform rules to affect bankruptcy attorneys: legislation would make it tougher, more expensive for people to file for liquidation.

Publication: San Diego Business Journal
Publication Date: 28-MAR-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: Reform rules to affect bankruptcy attorneys: legislation would make it tougher, more expensive for people to file for liquidation.(Law)

Article Excerpt
Los Angeles attorneys who handle personal bankruptcy cases could find themselves squeezed by legislation to overhaul the nation's bankruptcy laws. The reform bill just passed the Senate and is expected to reach President Bush's desk this year.

The legislation would make it more difficult--as well as more expensive --for individuals to file for Chapter 7 liquidation.

"Attorneys will be required to do much more in every single case," said Stuart Price of Encino-based Price Law Group. "Attorneys now have to personally verify and investigate the debtor's financial situation and...

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