Will the New Bankruptcy Law Help or Hurt?

The new bankruptcy law will effect small business owners. Louise Witt at Fortune gives a great rundown on what those effects may be:

After eight years of debating, deliberating, and discussing how to reform the nation’s bankruptcy code, Congress finally passed the Bankruptcy Abuse Prevention and Consumer Protection Act earlier this month and a few days later President Bush signed it into law. Most of the new law’s provisions covering individuals and companies will go into effect on October 17.

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