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NEW YORK (AP) - Last year's overhaul of the nation's bankruptcy code has done little to prevent people from skipping out on debts while burdening others who seek bankruptcy protections for legitimate reasons, according to a survey commissioned by a trade group of bankruptcy attorneys.
The National Association of Consumer Bankruptcy Attorneys, which released its study Wednesday, said forcing consumers into credit counseling — a key provision of the reforms that took effect Oct. 17 — was a waste of money and did little to weed out deadbeats trying to use bankruptcy to avoid debts.
"The vast majority of people pushed to the brink of financial collapse by circumstances over which they had no control," said Brad Botes, executive director of the NACBA. "Abuse of the process is the rare exception, not the rule."
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