New Bankruptcy Law, You will still have to pay
The government can stiff you and corporations can still hide behind BK to avoid creditors and fulfilling pension commitments, but...
The bill, expected to pass the Senate next week, would impose new hurdles for those seeking to erase debts through bankruptcy in an effort to force more Americans to pay back more of what they owe. The measure has been a longtime priority for banks and credit card companies that want to collect more on their debts.
Makes one wonder if the corporations are expecting the BK rate to rise drastically in the near future? Do they know something?
See: Senate Kills Amendments
http://www.contracostatimes.com/mld/cctimes-/news/nation/11039511.htm
The bill, expected to pass the Senate next week, would impose new hurdles for those seeking to erase debts through bankruptcy in an effort to force more Americans to pay back more of what they owe. The measure has been a longtime priority for banks and credit card companies that want to collect more on their debts.
Makes one wonder if the corporations are expecting the BK rate to rise drastically in the near future? Do they know something?
See: Senate Kills Amendments
http://www.contracostatimes.com/mld/cctimes-/news/nation/11039511.htm
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