Only weeks before Congress is likely to approve the long-sought overhaul, bankruptcy judges across the country warn that the measure would undermine the very section of the law under which debtors are now repaying more than $3 billion annually to their creditors.From this awful bill to sneaking through ANWR drilling to spending valuable time on baseball steroid use to all but ignoring the many ethical issues surrounding DeLay and now the Schiavo debacle, this Congress is set to go down as one of the worst in quite some time.
These judges say the effect of the overhaul would be to discourage most forms of personal bankruptcy, which for nearly two centuries has served as a safety net for people in economic trouble.
"The folks who brought you 'those who can pay, should pay' are pulling the stuffing out of the very part of the bankruptcy law where debtors do pay," said Keith Lundin, a federal bankruptcy judge in the eastern district of Tennessee in Nashville and an authority on bankruptcy repayment plans.
"The advocates aren't trying to fix the bankruptcy law; they're trying to mess it up so much that nobody can use it," Lundin charged. (LA Times)
Wednesday, March 30, 2005
Regarding the horrendous bankruptcy bill passed by Congress not too long ago:
Posted by Grey Matter at 8:45 PM