Legal Question in Bankruptcy in Florida
bankruptcy reform bill
How long after G.W. signs the bankruptcy reform bill will it become a law? How much time is there to file chapter 7 and what will happen if it is made into a law soon after you file?
Thank you.
1 Answer from Attorneys
Re: bankruptcy reform bill
Presently, a 180 day effective date is provided but it could change.
The House of Representatives has passed a bankruptcy bill similar to the bill passed last session. The Senate has passed its version of a bankruptcy bill. So the bills have to go to a House-Senate Conference to resolve the differences.The House and Senate must now appoint conferees. Once that is done, the conferees must reconcile the differences. Then the conference report must be approved by both chambers before going to the President to be signed into law.
Right now, the appointment of a conference committee has been held up due to disagreement between Republican and Democrats.
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