Website review: Bankruptcy Reform Bites Back
shatteredhalo discovered this in Politics
•2 reviews since Nov 6, 2007
politics
•businessweek.com/magazine/content/07_44/b4056...
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shatteredhalo discovered 9 months ago- From the page: "By contrast, the new law was designed to protect creditors. For one thing, only low-income borrowers can file for Chapter 7, which wipes out debts. The amended law pushes more people into Chapter 13, which forces households to accept 3-5 year repayment plans on all debtsâ€"secured and unsecured. In other words, they're still trying to make payments on car, credit card, medical, and other bills that used to be discharged in Chapter 7."
- herdmentality rated 9 months ago
- New 2005 bankruptcy law is making the mortgage crisis worse.
