Debt Relief Act

The Debt Relief Act, often referring to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, is a law designed to make it more difficult for individuals to discharge certain types of debts through bankruptcy. It aims to prevent abuse of the bankruptcy system by implementing stricter income and debt limits, requiring counseling, and making certain debts, like student loans and taxes, harder to eliminate. The act seeks to balance helping honest debtors regain financial stability with protecting creditors from unfair discharge of debts they are owed.