U.S. Congress debated a powerful new bankruptcy bill in the late 1990s and as the twenty-first century began. The proposed new law would raise the cost of consumer bankruptcies and demand that households seeking bankruptcy relief from their creditors receive training in the hope of avoiding future financial problems.

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The U.S. Congress did indeed debate a powerful new bankruptcy bill in the late 1990s and early 2000s, which culminated in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. This law made it more difficult and expensive for consumers to file for bankruptcy, and it included provisions that required individuals seeking bankruptcy relief to undergo credit counseling.

US Congress Debated a Powerful New Bankruptcy Bill in the Late