Bankruptcy and the Supreme Court

Submitted by Mydrive on Sun, 10/14/2007 - 02:10.

Filing for bankruptcy is a government provision that is especially designed for people who are confronted with financial crisis due to circumstances beyond their control. By declaring bankruptcy, they are freed from the obligation to pay their creditors.

Unfortunately, there are people who take advantage of this provision. They file for bankruptcy just to get away from their debts. For this reason, the government has come up with new bankruptcy laws to ensure that those filing for bankruptcy are only people that are left with no other option but to do so. Through the Bankruptcy Abuse Prevention and Consumer Protection Act, the benefit of filing for bankruptcy is only given to those who really need it.

Read full article about What Does the Supreme Court Say About Bankrupcty?

Where is the "consumer

Submitted by dontbeasucker on Tue, 12/04/2007 - 20:07.
Where is the "consumer protection" in this act? I think the protection is for the CC co's who continue to pile on loan shark interest and hold people hostage who are unable to pay off a balance. Did they make up that name of the new law? Everyone who knows about this knows that the big corporations actually WROTE this bill and the airheads who sided with their rich contributors didn't even read the damn thing before they voted yes!

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