There are 2 sides to the changes in bankruptcy rules.It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate.For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run). However, lawyers working with the actual people filing for bankruptcy say that the new law is seriously flawed because it puts more financial burdens on already broke clients and reduces potential debt repayment to small businesses. And then of course you have the credit card companies charging high interest rates which in quite a few cases caused the bankruptcy in the first place.According to some financial specialists, much of the debt people accumulate is a result of keeping up with the Joneses and not thinking ahead. For 80% of clients counseled each month, the debt is credit card related and averages $32, credit repair 000 – a result of six to eight cards.Consumer credit organizations say the new law provides debt-reducing strategies for those considering filing bankruptcy and curbs abuse.Under the new law it has become a requirement that the person filing bankruptcy obtains credit counseling both before and after filing for which that person will be charged..So now the consumer would then know the advantages and disadvantages of declaring bankruptcy. Yet it seems merely another expense for an already financially stressed individual. People filing bankruptcy in general are not overspenders, but merely faced with temporary financial disasters such as medical costs, layoffs, a divorce, gambling debts or other crises. Before you can file bankruptcy,you are now required to complete credit counseling with an agency approved by the U.S. Trustees office. This credit counseling is designed to help you determine whether or not bankruptcy is appropriate.