Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005

Business, Legal & Accounting Glossary

  1. Home
  2. Glossary
  3. Define: Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005

Definition: Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005

Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005
Cite Term
Sources

Full Definition of Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005

Legislation act that dramatically changed the federal bankruptcy law in the United States. The act sets forth a number of tests that a consumer seeking to file bankruptcy must pass before permission is granted. This act gives creditors the ability to have a Chapter 7 filing dismissed or changed to a Chapter 11 or 13 if the debtor exceeds certain median income levels determined by the state the debtor resides in. If the debtor exceeds the median level of income, they will be required to pay debtors back over a certain period of time determined by the court system.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/
Modern Language Association (MLA):
Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 19, 2024 https://payrollheaven.com/define/bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/.
Chicago Manual of Style (CMS):
Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/ (accessed: April 19, 2024).
American Psychological Association (APA):
Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005. PayrollHeaven.com. Retrieved April 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/

Definition Sources

Definitions for Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005 are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 14th November, 2021 | 0 Views.