This is a huge change. Under the new law, anyone whose household income is more than their state's median won't be allowed to file for Chapter 7 bankruptcy if their monthly income, less certain payments they're already making plus set amounts for expenses, leaves enough to pay off a small amount of their debt. The House and Senate versions of the new bankruptcy law differ on this point. People who want to handle their own bankruptcy case. Currently, the process for most Chapter 7 bankruptcy filers consists of filing some papers with the bankruptcy court and attending one hearing.
Creditors can challenge the bankruptcy only in a few situations.
The new bill, however, greatly increases the number of situations where a creditor can challenge a case. Many debtors will need to hire an attorney. People who recently bought luxury goods or received cash advances, people with private student loans, some people with child support obligations that aren't court-ordered. Some debts can never be wiped out in Chapter 7 bankruptcy. Student loans that are not guaranteed by the federal government.