In part, the bankruptcy act adopted in 2005 was predicated on the belief that the prior bankruptcy law allowed debtors too- relief from their obligations.

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The bankruptcy act adopted in 2005 was indeed predicated on the belief that the prior bankruptcy law allowed debtors too much relief from their obligations. The new law aimed to make it more difficult for individuals to declare bankruptcy and to make sure that those who did declare bankruptcy were paying back as much of their debt as possible.

In Part, the Bankruptcy Act Adopted in 2005 Was Predicated