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Rights We Have Lost
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<blockquote data-quote="CaryP" data-source="post: 6839" data-attributes="member: 34"><p><strong>Re: Rights We Have Lost</strong></p><p></p><p>You're quite welcome Paul. I saw your post about the Bush admin. getting ready for something. I think it's going to be big. I'm sure you've noticed the new banrkruptcy laws which are sailing through Congress. It is expected to be signed by Bush in late April or early May. The new law was written by and is heavily supported by the credit card and banking lobby. The new law prevents bankruptcy filers from walking away from all debts in a Chapter 7, if they have the ability to pay some or all of their debt off through future income. Talk about enslavement. The lobby pushing this new version of bankruptcy is saying that the law is needed to prevent credit card abuse. A study by Harvard Univ. shows that about half of all bankruptcies is due to medical bills. Another 35% or so is due to job loss and divorce. Only a small portion is due to credit card abuse. The "abusers" in credit card and other lending are the predatory lenders that send out BILLIONS of solicitations per year just in the US. There are bankruptcy law firms that are gearing up for a surge of bankruptcy filings between now and the enactment of the new bankruptcy laws. My guess is that many who would benefit by filing under existing laws will not see this development and get trapped into a lifetime of payments under the new law. Like I said, talk about enslavement. My guess is that it's part of the larger Bushco plan. Tension is rising, and something's gotta give at some point. I just hope it ain't "us."</p><p></p><p>Cary</p></blockquote><p></p>
[QUOTE="CaryP, post: 6839, member: 34"] [b]Re: Rights We Have Lost[/b] You're quite welcome Paul. I saw your post about the Bush admin. getting ready for something. I think it's going to be big. I'm sure you've noticed the new banrkruptcy laws which are sailing through Congress. It is expected to be signed by Bush in late April or early May. The new law was written by and is heavily supported by the credit card and banking lobby. The new law prevents bankruptcy filers from walking away from all debts in a Chapter 7, if they have the ability to pay some or all of their debt off through future income. Talk about enslavement. The lobby pushing this new version of bankruptcy is saying that the law is needed to prevent credit card abuse. A study by Harvard Univ. shows that about half of all bankruptcies is due to medical bills. Another 35% or so is due to job loss and divorce. Only a small portion is due to credit card abuse. The "abusers" in credit card and other lending are the predatory lenders that send out BILLIONS of solicitations per year just in the US. There are bankruptcy law firms that are gearing up for a surge of bankruptcy filings between now and the enactment of the new bankruptcy laws. My guess is that many who would benefit by filing under existing laws will not see this development and get trapped into a lifetime of payments under the new law. Like I said, talk about enslavement. My guess is that it's part of the larger Bushco plan. Tension is rising, and something's gotta give at some point. I just hope it ain't "us." Cary [/QUOTE]
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