Making Chapter 13 far not as much of striking by amongst other things eliminating its "super discharge" eliminating the capability of debtors to "revise" non-residential secured belongings (i.e. to disallow them from paying off the real value of the protected property as protected while treating the surfeit value as unsecured by disallowing the decrease of interest charged on the debt to sensible values) by removing the credit for payments on retained protected property from the computation of disposable income and by requiring that debtors undergo analysis in order to file under Chapter 13.

Limiting the Homestead fortification to $125000 in equity and establishing a 40 month residency period before such protections are recognized in Bankruptcy. The legislation sponsored (introduced) by the chairman of the Finance Committee Republican Senator Chuck Grassley of Iowa was supported by President George W. Bush and opposed by many Democrats and the Green Party. Although the innovative legislation was introduced during the Clinton Administration and had more bi-partisan Congressional support at the time the president vetoed it nonetheless. The bill languished for years due to disagreements in Congress as to the intensity of the means test and whether anti-abortion groups could use bankruptcy to discharge fines levied against them by courts for actions that resulted in belongings damage or injury such as bombing abortion clinics.
Bankruptcy Fraud: Bankruptcy Fraud is a dealing crime of filing for bankruptcy with criminal target that is with the purpose of evading payment for goods even though the buyer has funds that could be used to pay for them or accepting payment for goods or services but not supplying them. General types of bankruptcy scam include petition mills false oath concealment of property and fraudulent conveyance. Numerous filings are not per se fraudulent; as with all things in the law it depends on the circumstances. Bankruptcy Fraud should be distinguished from premeditated Bankruptcy which is not a criminal act (but may prejudice a judge in opposition to the filer if there is evidence that bankruptcy is being used strategically). In the United States bankruptcy fraud is a federal crime. Its provisions are established at Title 18 of the United States Code. It is prosecuted by the United States Attorney typically after a orientation from the United States Trustee the Interim Trustee or a bankruptcy judge. Bankruptcy fraud can also occasionally guide to illegal prosecution in state courts under the accusation of theft of the goods or services obtained by the debtor for which payment in whole or in part were evaded by the Fraudulent Bankruptcy Filing.