New Bankruptcy Laws & Developments in 2025: What You Need to Know
- McMann, P.A.
- Feb 22
- 2 min read
As bankruptcy laws continue to evolve, it’s crucial to stay informed about the latest changes that could impact your financial future. In 2025, new legislation and court decisions are shaping how individuals and businesses approach bankruptcy.
At McMann, P.A., Attorney Mark McMann and his legal team are committed to helping clients in Lakeland, Tampa, Orlando, and throughout Central Florida navigate these legal changes and find the best debt relief solutions.
Key Bankruptcy Law Changes in 2025
Adjustments to Chapter 7 Income Limits
The means test threshold for Chapter 7 bankruptcy has been adjusted, potentially allowing more individuals to qualify for debt discharge. This could benefit those with moderate incomes who previously didn’t qualify.
Student Loan Discharge Reforms
Recent court rulings have made it easier for borrowers to discharge student loan debt in bankruptcy. While still challenging, these changes offer new hope for individuals burdened by overwhelming student debt.
Foreclosure and Eviction Protections
Federal and state lawmakers have introduced new protections for homeowners and renters, making it easier to restructure debts through Chapter 13 bankruptcy rather than losing their homes.
Medical Debt and Bankruptcy
With rising healthcare costs, new laws now provide better pathways for discharging medical debt in bankruptcy. These changes aim to offer relief to those struggling with insurmountable hospital bills.
Business Bankruptcy Reform
Small businesses have new restructuring options under Chapter 11, making it easier to stay operational while reorganizing debts. The streamlined process is designed to provide faster relief and reduce administrative costs.
How These Changes May Affect You
If you were previously ineligible for Chapter 7 due to income limits, you may now qualify.
Borrowers with student loan debt may have a better chance at partial or full discharge.
Homeowners behind on mortgage payments could have stronger legal protections.
Those with large medical bills may find relief through updated bankruptcy provisions.
Small business owners now have improved options for restructuring their debt.
Do You Need to File for Bankruptcy?
If you’re facing overwhelming debt, these legal changes could open new opportunities for relief. At McMann, P.A., we are here to help you understand your options and make informed decisions about your financial future.
Contact Attorney Mark McMann today at McMann, P.A., for a free consultation and find out how the new bankruptcy laws may benefit you.
Mark D. McMann
McMann, P.A.
1700 South Florida Ave.
Lakeland, Florida 33803
863-393-9010
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