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Report: Bankruptcy Reforms Lead to Steep Fee Hikes
11/25/2012   Reported By: Irwin Gratz

In 2005, Congress reformed the bankruptcy laws.  The goal, supporters said, was to make it harder for people who could afford to pay their debts to escape them via a bankruptcy filing.   But University of Maine School of Law Professor Lois Lupica says the effect was somewhat different.

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Report: Bankruptcy Reforms Lead to Steep Fee Hike
Originally Aired: 11/25/2012 8:00 AM
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 Duration:
3:03

"The changes put into place at that time made the entire system much more complex, much more time consuming, adding many additional administrative obligations, and turned out to be a far more expensive process, which we demonstrated with data from our study," Lupica says.

Lupica talked with MPBN Morning Edition host Irwin Gratz in her office last week about her study, one of the first of its kind in the country.  To hear the interview, press the "Listen" button above.

Lois Lupica and Colby College Professor Michael Donihue are currently working on a study that will better document whether creditors have benefitted from the 2005 bankruptcy reforms.   

View Lupica's report on the increases in bankruptcy fees.

 

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