Which of the following was NOT a reason cited for passing the comprehensive changes to bankruptcy law included in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
A) The increased numbers of bankruptcy filings
B) Significant losses associated with bankruptcy filings
C) Making it simper and easier for consumers to file for bankruptcy
D) Loopholes and incentives that allowed and sometimes encouraged opportunistic personal filings and abuse
E) The fact that some bankruptcy debtors were able to repay a significant portion of their debt

Question

Quizplus · Accepted Answer

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was designed to make it more difficult, not simpler and easier, for consumers to file for bankruptcy. It aimed to address abuses of the bankruptcy system, not to facilitate bankruptcy filings.

Which of the Following Was NOT a Reason Cited for Passing