The Burlington Free Press reports a drop of 76% in bankruptcy filings since the change in the US Bankruptcy Code that took effect in October 2005. But the writer of the article makes the point that this does not mean people are not in a bad financial situation - just that they are not seeking the protection of the bankruptcy laws at the same rate as before.

“It’s an appalling law and I’d like you to quote me on that,” Taylor said. “I think the law’s unfair and I think these are difficult times.”

The article conveys the fact that the laws have changed, but that the primary impact has been to increase costs and scare people away from the court system. These changes create “an illusion that fewer Vermonters are struggling financially,” according to the article.

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