Why not absorb ALL debts?

[ck4829]

Why can't we do that?

Let's get the our people in Congress discussing what to do for the little people, not just for the corporations or the wealthy.

[lostnotforgotten]

1. Debt - 596 Trillion Derivatives - 58 Trillion Credit Default Swaps - 2.5 Trillion Credit Card

It's To Big To Swallow!

See www.wallstreetdigest.com/hotline.php for numbers.

[old mark]

2. A few years ago, the Republicans changed the law

on personal bankruptcy so that a person who is crushed by legitimate debt, such as an uninsured person faced with say, $500,000 in medical bills and having assets of $1000 can no longer have that debt relieved via the traditional "fresh start" chapter 11 bankruptcy proceeding.
That person still suffers the punitive parts of bankruptcy - very bad credit for a minimum 7 years, inability to get loans, morgtages, etc for that period of time - but must pay off the outstanding money even if it takes forever.

I notice the banks are just walking away from their self-created mess without any problems at all.

Do you think money = political influence?

mark

[Indenturedebtor]

3. Actually you can still go ch 7 it's just REALLY hard

I just got through the first round of interviews for a career change that I really want to make. But if I take the job I can't do ch7 anymore...which I really need to. I don't know what to do.

But the new laws made it so that you have to basically be unemployed for a long time to go ch7.