Proposal to make filing bankruptcy cheaper. Bankruptcy lawyers have been hard at work. The project they are working on is very important. They have been working on a 400 page report recently released whose goal is to make it cheaper for companies to file bankruptcy. The bankruptcy process for companies is expensive. Cheaper bankruptcy filing costs would benefit everyone. Not only the companies who can survive and thrive after bankruptcy. But the employees who want to keep their jobs. Enough people are out of work. If this proposal becomes law, the hope is this will stop more people from joining the unemployment line. In 1978, the bankruptcy code was revised to lift restrictions on fees. This raised costs of bankruptcy. Bankruptcy lawyers in Chapter 11 bankruptcy have continued to increase their fees. Many are worried companies in trouble cannot afford to protect themselves under the Bankruptcy Code. The proposal suggests a list of improvements to the bankruptcy laws to bring down the costs of filing bankruptcy. Besides top bankruptcy lawyers, professors and advisers worked hard on this report. The economy has been bad. Yet corporate bankruptcy filings have actually been declining since 2009. Many believe this is not a good sign. The reason bankruptcy filings are down is companies simply cannot afford the costs of filing a Chapter 11 bankruptcy case. Who knows how many companies have simply gone out of business rather than being able to file bankruptcy. Many in the field of bankruptcy are optimistic that this report that took two years to produce will be adopted. Reform that makes bankruptcy filing cheaper will benefit many. By being able to afford the services of experienced bankruptcy attorneys, more companies can be saved. This will in return preserve more jobs in our country. No one wants more unemployed people. People want hope that they can get a job. Or be able to keep their job. Filing a bankruptcy case sometimes is the only way that can happen.