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New Bankruptcy Laws


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and how they impact the average American:


Last week, the Senate made moves toward approving pro-business legislation that will make it harder for individuals to file for bankruptcy. What do you think?

Kim Emerson

Systems Analyst "This is a victory for good, hard-working, God-fearing credit-card companies everywhere. Dry your eyes, Citibank, help is on the way!"

Javier Burris

Cashier "Well, there goes my foolproof get-bankrupt-quick scheme."

Doug Schaulsberg

Ranger "I guess my only hope for ever getting out of debt is declaring myself a business. Hey everyone! Shares in DougCo are trading at an all-time low."

Arnold Kaufman

Lawyer "Look! I caught another middle-class guy! Here, hold his arms behind his back while I gut-punch him!"

Christian Irwin

CEO "Ever since reading Charles Dickens as a child, I've felt that debtors' prisons had a romantic feel about them. Let's bring those back."

Stacy Goff

Environmentalist "If this doesn't teach Americans not to have medical emergencies or get laid off, I don't know what will."

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  • 2 weeks later...

I'm glad you brought this up. I think it's something we should discuss so that we understand what the laws actually ARE.

I am all for making BK laws better equipped to where they can't be taken advantage of (by such folks who charge up multiple CC's and don't pay, etc...), but I'm not into this "screw the little guy" junk--hense my wish to NEVER declare a political party.

I hate to say it--but before investigating these new BK laws and such, we should investigate what EACH political party typically "believes in" and where they stand...THAT way, in the future we can maybe be careful who all we vote for? Just a thought...cause it's those folks in those elected positions doing this.

Not trying to start ANY debate because I'm kind of opinion-less since I can't ever profess to "know-it-all" but I am all for us educating ourselves so we can be more informed and make more informed decisions.

Does anyone have the run down on what the new BK laws mean? If I find a good link, I'll bring it here to share myself.


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It means that a LOT of people will be forced into what amounts to indentured servitude to the credit card companies and collection machine for a long, long time. Forget the 'fresh start', the original intent of Congress over 100 years ago, barely anyone will get that 'fresh start'.

I have some articles bookmarked at home, I'll have to post them later. This law is going to be a nightmare.

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