New Bankruptcy Laws Affecting Florida
The new Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) which was signed into law on April 20, 2005 acted to change most bankruptcies filed on or after October 17, 2005 in several ways including:
• Additional restrictions on Chapter 7
• Increased payments for debtors choosing Chapter 13
• Required credit counseling
• Implemented a “Means Test” to determine eligibility for Ch. 7 or Ch. 13
• More stringent requirements on Homesteaded property
• Increased penalties for fraudulent actions

