A new Supreme Court case came down upholding a Bush era law that changed part of the Bankruptcy Code. Here’s the backstory. If you think about it, if you are at the point of declaring bankruptcy, chances are you don’t have a couple grand to pay lawyer fees and court costs. In the day, lawyers would tell you to take the money off a credit card or some other lender to pay your fees, and include that debt in your bankruptcy. The Bush Bankruptcy changes in 2005 made that type of advice illegal, and a Minnesota law firm believed the law was unconstitutional, because it interfered with their Free Speech rights, among other things. The High Court today disagreed, and upheld the law.

So, if you need to declare Bankruptcy, I can’t tell you how to come up with the fees — at least not this way. If you want to read more, click here.

Chris

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