Nevada Bankruptcy Attorneys presents the following opinion about the current bankruptcy laws on the books.  This is the most severe economic crisis that we are currently facing, since the Great Depression.  In fact, some economists forecast that we may see another Depression, and one could certainly state that some states are harder hit by the downturn including Nevada.  Contact a bankruptcy attorney in your area if you have questions about bankruptcy and how it may give you a much-needed fresh start to make your own economic and financial turnaround.

Today, only less than 4 years after the passage of the new rules of the 2005 BAPCPA law that toughened the system for bankruptcy filing and made it far more costly (it more than doubled the legal fees charged by attorneys for bankruptcy filing) for debtors to file for bankruptcy, we find that American debtors, once again, are fast returning to the same rate of bankruptcy filing as the pre-2005 levels. This is proof positive that the average American debtor seeks bankruptcy by reason of financial hardship and inability to pay, and flatly debunks the fundamental premise by the credit, banking industry and Congress, among others, for enacting the 2005 law, namely, that debtors largely filed for bankruptcy out of cheating, fraud and deliberate desire to get out of their financial obligations.
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