Bankruptcy Lawyers Making More Money

March 15th, 2009

With the new bankruptcy laws, bankruptcy lawyers found themselves making more money. The new bankruptcy laws made it harder to for people and even companies to file for bankruptcy protection especially the Chapter 7 bankruptcy protection for people.

The longer time needed to fight in the bankruptcy court meant that lawyers needed higher fees. There were also more work needed for research which resulted in more money paid.

The law had a means test that determined if a person was eligible to file Chapter 7 and many people ended up not qualifying. It took a person income and went through it with a fine tooth comb, determining what could be listed as expenses.

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Entry Filed under: Business

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