Anyone remember hearing about the new personal bankruptcy law?

[Frangible]

A while back I remember hearing about a new proposed federal law in the news that would make it such that personal bankrupty would no longer void your debts and they would persist no matter what.

Well, maybe I'm smoking crack or something, but it was something along those lines. Anyway, does anyone know what happened with this?

[notadmblnd]

1. Last I heard they weren't able to get it passed

nt

[Jacobin]

2. I followed it closely

It would have made personal bankrupties of middle and lower income people very difficult, but if you owed millions it would be easy. Some democrat in congress attached a rider to it making lawsuits against people who are sued for interfering with abortion clinics non-dischargeable in bankruptcy and killed it...for the time being.

I'm sure its going to come back up and it is bad...very very very bad. Something like a hundred bankruptcy judges wrote letters to congress stating how inequitable it would be.

[Frangible]

3. Thanks

Good to hear it's dead for now, but yeah... seems there's a definate chance of it coming back in the Republican controlled state we're in now.

:scared:

[Robbien]

4. Yes, the Schumer amendment killed it previously, but

the current proposal does not include the Schumer amendment. The current bankruptcy bill H.R. 975 is being disguised as a farm relief bill. Frist has it but did not put it on the calendar before the November elections.

Keep your eyes peeled though, Frist probably will push this hard now.