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August 24, 2010

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

There are defined legal debtor rights
Debtor-creditor law governs situations where one party is unable to pay a monetary debt to another. While you have an obligation to pay your bills on time, there are laws to protect your rights if you should find yourself being pursued by a debt collection agency.

	Newsroom
	News about Bankruptcy in Des Moines and nationwide: Accountant Means Accountant Authorized Under Applicable Law To Practice Public Accounting 101. Definitions (1) accountant means accountant authorized under applicable law to practice public accounting, and includes professional accountin... Read more > Senate Passes Schumer Amendment To Bankruptcy Bill To Crack Down On Predatory Loans Measure Forces Predatory Lenders To Pass Along Liability To Buyers of Loans During Chapter 11 Proceedings, Making it More Difficult to Discharge As... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Straight bankruptcy

Definition:
An informal term for a Chapter 7 bankruptcy or liquidation; used more commonly to describe liquidation before the Bankruptcy Reform Act of 1978.

Chapter Twenty Two

Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.

Substantive consolidation

Definition:
The combination of the estate of one debtor with the estate of one or more other debtors and the application of the combined estate to satisfy their combined liabilities.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

Des Moines Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Ames
Ankeny
Bettendorf
Burlington
Cedar Falls
Cedar Rapids
Clinton
Council Bluffs
Davenport
Des Moines
Dubuque
Fort Dodge

Iowa City
Marion
Marshalltown
Mason City
Muscatine
Newton
Ottumwa
Sioux City
Urbandale
Waterloo
West Des Moines

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