Faryn Balyncd
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Mon Feb-02-09 07:32 AM
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It is time to REPEAL the Bankruptcy "Reform" Act of 2005...The bailed out credit card companies. . . |
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. . . have no right to prevent bankruptcy for American citizens.
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bluestateguy
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Mon Feb-02-09 07:37 AM
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I was so mad at Al Biden for months afterwards.
The CC's wanted this bill so badly, and guess what? They are still suffocating.
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digidigido
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Mon Feb-02-09 11:38 PM
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13. That would be Joe Biden you mean yes???? |
Dr.Phool
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Mon Feb-02-09 07:52 AM
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2. It's worse than most people realize. |
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My sister and BIL just went through the process. Both had good jobs, and a nice home. He had his own construction business, and things started to collapse. He eventually had to lay off all his employees, and is doing spot work, whenever it's available through the union. The court is taking damn near her entire paycheck every month, and leaving nearly nothing for food, heat, transportation, or housing.
Congress had better address this and credit card rates before it becomes a full blown catastrophe.
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FreakinDJ
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Mon Feb-02-09 07:59 AM
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3. They never address the root cause - only Bail Out Fat Cats |
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This is what Americans every where are pissed off about.
Unless we want to see Obama struggling with a Republican controlled House and Senate the Dems better get off their collective ass and do some thing positive for the little guy - John E. Taxpayer
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ljm2002
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Mon Feb-02-09 09:58 PM
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Unfortunately, the Democrats sold out the little guy some time ago. They tried to co-opt the top half of the middle class, and the devil take the hindmost when it came to everyone else. They bought in to the canard "but we *all* own stakes in the corporations -- look at our IRAs, and our retirement plans, and and and...". All the while their real agenda was to suck up to corporate teat, as evidenced by the many bad bills and international agreements that have done nothing but drain the life out of a vibrant middle class and a vibrant manufacturing base.
The capitalists, as has been predicted, have managed to hollow out the very nation that sustains them. They are the parasites that have sucked the host dry, failing to realize that the host's death means their own inevitable demise. And the Democratic Party has by and large gone along for the ride with their own personal gain at the forefront, and leading with embarrassed snickers at the old-fashioned, out-dated notions of "Buy American", "Union Made", "Class Warfare", and anything that might be construed to be to the left of Ronald Reagan.
It is truly pathetic and I wonder whether we will recover, really.
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Baby Snooks
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Tue Feb-03-09 01:17 AM
Response to Reply #2 |
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I have been told some have been forced to sell their homes. Although that was probably prior to last fall when the housing market went to hell. I have had to file Chapter 7 twice. There really is no such thing as Chapter 7 anymore. The courts are given discretion and the creditors are like vultures. The worst are the hospitals. They are the ones most likely to force you to sell your home particularly if there is equity.
He was long gone but believe me that bankruptcy bill is the bill Phil Gramm repeatedly to get passed. That should have served to warn everyone of what was coming down the pike when Congress passed it. I have never really understood it but apparently it bypasses the usual homestead exemption so you can be forced to sell your house.
If you make what the creditors feel is sufficient income to repay the debt, you repay the debt. And there no longer is a minimum you can pay. There really is no income protection despite there supposedly being protection for certain income ranges based on the state poverty level and a formula calculated on that poverty level. The payment is basically decided upon by the creditors and their attorneys based on your assets, your income, and what they supposedly can claim is your future earning potential. I have been told the courts are doing all sorts of things the law really doesn't allow them to. But the law does allow them the discrection.
Most are advised not to file for bankruptcy. You do better to do nothing and let the creditors sue you. Most in fact don't. But the threat is such that it usually forces people into filing. And that of course it what they want.
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santamargarita
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Mon Feb-02-09 08:55 AM
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4. Another gift from the Republicans! |
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Fortunately they're now on "life support" and we need to pull the plug!
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chimpymustgo
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Mon Feb-02-09 09:27 AM
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5. We had quite a few from "our team" - including our Vice President - vote for it. |
santamargarita
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Mon Feb-02-09 02:49 PM
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7. How true, I forgot about that. |
Donnachaidh
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Mon Feb-02-09 11:59 AM
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6. do call VP Biden and ask him to do it |
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As he was one who helped push it through, I'm sure he'll jump right on it. :sarcasm:
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The Hope Mobile
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Mon Feb-02-09 03:20 PM
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closeupready
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Mon Feb-02-09 05:13 PM
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Prophet 451
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Mon Feb-02-09 06:24 PM
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My own government (British) is starting to talk about something similar. Although I was downcast at the time, I'm starting to become increasingly glad that I declared last August.
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Left Coast2020
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Mon Feb-02-09 10:12 PM
Response to Reply #10 |
12. I'm not as fortunate as you. |
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Edited on Mon Feb-02-09 10:21 PM by Left Coast2020
You may be able to have your debt reorganized with card companies, but as one who had to borrow for college, mine are not dischargable--according to a bankruptcy attorney I talked to last week. But it is agreed, the entire bankruptcy law needs to be overhauled. Thats why I get so f'ing depressed that this country does not seem to have the interest and take to the streets on these matters--as they do in France. Think of what kind of impact we could have if millions of people always took to the streets. Do we really want these laws changed? Apparently not. We seem to enjoy a political form of S&M I guess. :sarcasm:
I don't know if other people can view my journal, but if you can, see, "....Lets go back to the 90's....." I wrote about an action France took to protest a wage or retirement issue. But in short, we can take to the streets. Bush is gone. Its a different ballgame. We can demand what kind of government we want. If we don't, then we have no reason to complain.
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Prophet 451
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Tue Feb-03-09 08:26 AM
Response to Reply #12 |
16. Can't write off student loans here either |
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Here, there are only two things you can't write off: Student loans and criminal fines. So, I still owe about £20K in student loans but that's all I owe, despite the fact that some parties don't seem to have got teh memo yet.
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Laelth
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Mon Feb-02-09 11:45 PM
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14. Hear, hear. It's a bad law. |
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Sadly, a significant number of Democrats supported it. They also failed to filibuster it. It's unlikely to be repealed, but it should be.
:dem:
-Laelth
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Sat Apr 27th 2024, 12:17 AM
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