Where are we headed with personal bankruptcy? In 2005, Congress passed a bill aimed at reducing the number of personal bankruptcy filings. But that was before a housing meltdown, a credit crunch and a global economic downturn. In the midst of the financial crisis, more and more Americans are filing for bankruptcy. And experts say the numbers are likely to get worse.
The Bankruptcy Abuse Prevention and Consumer Protection Act, which took effect three years ago this month, increased restrictions for Chapter 7 bankruptcy filings by applying a means test which would disqualify many consumers with higher incomes from discharging their debts.
Bankruptcy became potentially more complex, according to one analyst. And with more paperwork and due diligence required, lawyers doubled their fees. As such, may people are turning to find ways of cutting their bills by transferring out of their car lease. LeaseTrader.com can help with this process of car lease transfer.
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com