The Future of Bankruptcy Law: What to Expect in 2025 and Beyond
- McMann, P.A.
- Feb 25
- 2 min read
Updated: Apr 6
As financial landscapes evolve, bankruptcy laws and policies continue to change. Whether you’re considering filing for bankruptcy or simply staying informed, understanding the latest trends can help you make better financial decisions. At McMann, P.A., Attorney Mark McMann and our team are committed to keeping individuals in Lakeland, Tampa, Orlando, and throughout Central Florida updated on key legal developments.
Here’s what you need to know about the future of bankruptcy law in 2025 and beyond.
Potential Changes to Bankruptcy Laws Under the New Administration
With a new presidential administration, discussions about changes to bankruptcy laws are gaining momentum. Some potential reforms include:
Easier student loan discharge: Lawmakers are considering making it easier to discharge student loan debt in bankruptcy.
Increased exemptions: There may be adjustments to bankruptcy exemptions that allow individuals to keep more assets.
Revised means testing for Chapter 7: New income thresholds could allow more people to qualify for Chapter 7 bankruptcy relief.
The Impact of Inflation and Economic Trends on Bankruptcy Filings
Rising inflation, higher interest rates, and economic uncertainty could lead to an increase in bankruptcy filings. More individuals and small businesses may turn to bankruptcy as a way to restructure or eliminate debt in response to financial hardship.
Digital Assets and Cryptocurrency in Bankruptcy Cases
As cryptocurrency becomes more widely used, courts are developing new guidelines on how digital assets are treated in bankruptcy cases. This includes:
Determining the value of digital currencies at the time of filing
Addressing fraudulent transfers of crypto assets
Protecting crypto holdings from liquidation where possible
The Role of AI and Technology in Bankruptcy Proceedings
Technology is playing an increasing role in the legal field, including bankruptcy law. We may see:
AI-powered financial assessments that help determine bankruptcy eligibility
Online bankruptcy filings and virtual court hearings for faster processing
Automated debt negotiation tools that streamline repayment plans
Will Bankruptcy Become More Accessible?
Advocates for consumer debt relief are pushing for reforms to make bankruptcy more accessible and less expensive. Potential changes include:
Lower filing fees to make bankruptcy more affordable
Simplified forms and faster processing times
Stronger protections against creditor harassment
Stay Informed and Take Action
With so many potential changes on the horizon, now is the time to understand how these updates could affect you. Whether you’re considering bankruptcy or just staying informed, working with an experienced attorney can help you make the best financial decisions.
Contact McMann, P.A. Today for a Free Consultation
At McMann, P.A., we stay ahead of the latest legal developments so we can provide the best guidance for our clients. If you’re considering bankruptcy in Central Florida, call Mark McMann today to learn more about your options.
Mark D. McMann
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