The new bankruptcy rules set to go into effect will significantly impact consumers, creditors, and the broader economy. With consumer bankruptcies on the rise, increasing by 8% year-over-year in 2023 and another 6% in 2024, these changes introduce both challenges and opportunities. For consumers, the new rules may provide greater avenues for transparency into their mortgage based debts. Creditors, lenders, and investors, on the other hand, will face heightened scrutiny and need to adapt quickly to ensure compliance with the new requirements. Law firms that specialize in creditor rights must leverage technology and streamline processes to stay ahead of the competition. By embracing these operational adjustments, creditors and their counsel can navigate the changing landscape and position themselves as leaders in handling the growing wave of consumer bankruptcies.