Now that the bankruptcy bill is a fait accompli....listen to what

[caledesi]

Orin Hatch :evilfrown: is proposing as an amendment (another screwjob).

Hatch wants an amendment to the bill that will force anyone who is thinking about filing Chapter 7 to go to some sort of a Money Management course (kinda like driving school).

Gee, I wonder who would pay for this school, how long and how much?

It gets worse. Anyone who is thinking about filing Chap 7 and is not accurate or lies about their assets puts the onus on the lawyer. So now lawyers don't want to take bankruptcy cases.

It gets "worser" - If the lawyer makes even one little mistake in filing (filling the forms etc). No bankruptcy. You are royally f*cked.

Disgusting.

edit: forgot the worse and worser.

[Arugula Latte]

1. Um, what about

"get the government off our backs?"

[Deja Q]

8. That was popular in 1979...

[caledesi]

2. I personally think a Pain Management course would be in order.

<sarcasm>

[Why Syzygy]

3. This would be hysterical

except it is not.

Whatever happened to the concept of "JOBS" and a "SOUND ECONOMY" to prevent bankruptcy?

[jmowreader]

4. If the House and the Senate have voted on this, let him amend it!

This could actually work in our favor.

If the House has approved a version without the Hatch amendment, and the senate has approved one without it, and then Hatch amends the bill, at that point the approvals are null and void. This is to keep the Democrats from making chicken salad out of chickenshit bills like this one.

We then have to hope we can talk enough sense into enough House Republicans to get the thing voted down when it comes back up.

[WillowTree]

5. Just for the sake of accuracy...

....the bill does include a provision that a person would need to seek credit counseling in order to be able to file Chapter 7, but my understanding is that the services of most credit counseling agencies is usually free to the consumer. It's funded mostly by banks and credit card companies because they would much rather see a person find a way to get their finances in order and pay the debts, sometimes with reduced interest rates or extended payment periods, than to have the debts written off entirely by a Chapter 7. Credit counseling, when successful, is really beneficial to all concerned. The creditor gets at least partial payment and the debtor doesn't wind up with a bankruptcy on his or her record. Often, though, it can't be worked out and it still winds up in bankruptcy. This part of the bill requires the debtor to try credit counseling first, though.

[The Doctor.]

6. There is also the 'debt-milll'.

It is still very lucrative for secondary and tertiary collectors to buy debt.

(As little as 7 cents on the dollar in some cases)

Because of the way accounting works, the major companies can still report 'accounts owed' as assets.

Keeping people in the debt-mill is in their best interest.

[leesa]

7. All of this evil...just before the housing bubble they created bursts

ALL the money will go back to douche-bag Republicans and their rich Dem buddies.