Bush's new bankruptcy law

[CareBear3030]

So what do you all think about the new bankruptcy law??

Bush keeps giving the big corporations more and more and more. We'll all be broke by the time he's done!

And before I get flamed....I work very hard for a living as well as my hubby. We dont have rich parents and everything we have is because we've earned it. I dont plan on filing bankruptcy anytime soon...believe me. But what if something happened to Chris. I'd loose everything. I make a descent living, but could not afford ALL of my bills. Something would have to give so I could keep my house for my kids. Under his new law, sorry about my luck.

 

[UncleBacon]

if you live within your means you should have no problem...do you really need cable do you really need more than 1 phone...you have to ask yourself what you can afford and what you can't live without...making sacrafices ia a big part of life...don't take this the wrong way I'm saying this about you I'm just saying...it cracks me up when people complain about not being able to meet there bills or save money but they have cable 3 cell phones 2 cars go out every weekend and party ect...you get my point I'm sure

 

[CareBear3030]

Oh no, I'm totally with you. I agree. I think those types of people are who he had in mind when creating the law. Right now, we do live within our means....and now I've got a full time job again, the saving can start getting built back up again....and working for alife insurance company, I'm sure to get good rates that are affordable to help in a disaster.

But what about those not living out of their means. If my father in law died tomorrow, my mil would never be able to keep up all their bills. Even though they've paid on a house for 28 years, should she now loose it?? Thats my point.

 

[mdvaldosta]

This quote sums it up best:

"People who borrow money for whatever reason should be responsible for paying back their debts if they are able to do so," said Rep. Pete Hoekstra, a Holland Republican. "Filing for bankruptcy simply to avoid paying debt unfairly burdens responsible consumers with higher interest rates and increased costs of goods and services."

Bottom line is that way too many people were abusing bankruptcy for personal gain above and beyond what was intended. Bankrutpcy was put into place to give people a way to save their most important assets needed to survive (home, car, personal belongings). Bankruptcy should NOT be a way to get out of the $30,000 in credit card debt you ran up to fill your closet full of Hilfiger clothes and put a plasma TV in your living room and all your bedrooms.

Thankfully it will be harder for people to file, not pay for their bankruptcy and refile again over and over. The only ones who win there are the person filing and their attorney... the creditors get left out in the cold and have to pass the expense of someone not paying onto the people that are. In addition, nobody is kept from really filing bankruptcy in a needed situation - the new law simply states that if you make enough money to pay back your debts then you should. No more people making 100k per year and wiping out 200k in unsecured debt from them living it up for the last 5 years.

I'm glad to see this reform.

 

[IntruderLS1]

This new law is just like almost every other new law to ever hit the books. It's the few assholes out there in the world that scew it up for the good people.

I don't think there is any debating that the system was being abused. It's not some crazy rich right wing zelot who is out trying to screw the little guy. There are legitemate reasons for filing banckruptsy, and those reasons are still as valid today as they were last year. It's the people Joe was talking about that need to be hammered.

 

[Blackwater_GT]

I've heard all the arguments for tuffer laws for claiming and have heard the complaints about it being to easy.
Not everyone is smart with money and some of us overspend or extend them selves to far on credit. Instead of Bankrupcy (chapter 13)? No one should be allowed to file for total bankrupcy unless theycan prove that there financial difficulties were the result of natural disastor or injury or something that occured to them that they had no control over.
I think chapter 11 allows you to file for bankrupcy but you must work with a agency to repay your debt. This allows you to stop getting harrasing phone call and most companies will reduce your interst on the debt allowing you to set up a payment plan.

The Companies that give you those credit cards with low intro rates then raise it 15 to 20 % after 6 months should be put out of business.

 

[lemon]

Re: RE: Bush's new bankruptcy law

"People who borrow money for whatever reason should be responsible for paying back their debts if they are able to do so," said Rep. Pete Hoekstra, a Holland Republican. "Filing for bankruptcy simply to avoid paying debt unfairly burdens responsible consumers with higher interest rates and increased costs of goods and services."

well, dont ya love captian obvious...why dont ya just state the obvious, and not actually do anything about it... thats all that is happening now...(extreme exaggeration, but plausible.. possibly)

we all get fucked over by the big guns, and the little guy gets screwed and left with nothing... then the big guns complain about all the rifraf and all that b/s so they get common sense laws made that shouldnt have to be made...

dont i wish the goverment = one person sometimes, so i could just wned them (take the 'd' off)

anyways.... just like insurance laws... they help the big guns, the big guns profit, then the little ones get screwed by the fucked up few people who have almost all of their marbles missing, who end up paying for the mistakes of few,..... anyways

.......................................................................... :fu america...

but ya gotta appreciate some of our freedoms....so i like america as well...

actually, i hate and love capitalism/free enterprise economies... they always never work cuz of the greedy bastards at the top...especially when the government steps in "to help out the little guy"... i wonder who makes those multi-million dollar campaigns work? my guess is the big guns... wow, what a guess huh? and then they [the big guns] pressure the government to pass laws in their favor......

anyways ('anyways' count number like 4) i have mixed feelings for the damn government, and most are not good feelings... :tard

ps. sorry for hijacking the thread if it does seem like i did as such...

 

[Veronica]

Joe feels the way he does because he has people file left and right on him for a 200 dollar debt that they just took out like 2-4 days before they filed!!! Hopefully it will prevent stupid bankruptsies.

 

[IntruderLS1]

Re: RE: Bush's new bankruptcy law

.......................................................................... :fu america...

but ya gotta appreciate some of our freedoms....so i like america as well...

I see you're upset and frustrated, and I can't say I don't understand why, so believe me when I say I'm not saying this to be a prick, or be argumentitive, but.... "you can leave if you want to."

I would actually highly recomend it to be totally honest with you. I find that most people who travel come home with a different view of America. Much more well rounded at the very least. And on the other side of the coin, you may find something else that you just really like better. You never know till you try anyway.

Our style isn't for everybody. Facts are facts. But for the record, I love the Red, White, and Blue. :rock :rock

 

[White2000GT]

Re: RE: Bush's new bankruptcy law

.......................................................................... :fu america...

but ya gotta appreciate some of our freedoms....so i like america as well...

I see you're upset and frustrated, and I can't say I don't understand why, so believe me when I say I'm not saying this to be a prick, or be argumentitive, but.... "you can leave if you want to."

I would actually highly recomend it to be totally honest with you. I find that most people who travel come home with a different view of America. Much more well rounded at the very least. And on the other side of the coin, you may find something else that you just really like better. You never know till you try anyway.

Our style isn't for everybody. Facts are facts. But for the record, I love the Red, White, and Blue. :rock :rock

Well said Intruder! Believe me, I have been all over the world and am now living in Spain. As nice as it is here, it is no America. I can honestly say that there is no greater country in this world than America!
Now back on topic. I like the idea of a bankruptcy restructure. Most points I could make have already been made, so I won't beat that horse. All I can say is I hope it works for the better. But someone somewhere will find a loop hole and exploit it. But maybe if it is successful then the powers that be can finally pass some law to regulate welfare. Not meaning to go off topic again, but that is a seriously over abused system if there ever was one.
I'm done now. *Steps off soapbox*

 

[2001_Saleen]

Re: RE: Bush's new bankruptcy law

.......................................................................... :fu america...

but ya gotta appreciate some of our freedoms....so i like america as well...

I see you're upset and frustrated, and I can't say I don't understand why, so believe me when I say I'm not saying this to be a prick, or be argumentitive, but.... "you can leave if you want to."

I would actually highly recomend it to be totally honest with you. I find that most people who travel come home with a different view of America. Much more well rounded at the very least. And on the other side of the coin, you may find something else that you just really like better. You never know till you try anyway.

Our style isn't for everybody. Facts are facts. But for the record, I love the Red, White, and Blue. :rock :rock

How did I know you would pick out that particular quote......
anyways....... :fu Bush and all his friends, but America was a pretty sweet place to live for a while, and I think in the future it could be as cool as it used to be, so I'll stick with the red white and blue for the time being. Hopefully I can play a part in making it cool again.

 

[IntruderLS1]

Re: RE: Bush's new bankruptcy law

How did I know you would pick out that particular quote......
anyways....... :fu

:lol :lol

Well I would hope so, with how many times we've spared. Hey, did you say you were comming out to Cali one of these days?

 

[2001_Saleen]

Re: RE: Bush's new bankruptcy law

How did I know you would pick out that particular quote......
anyways....... :fu

:lol :lol

Well I would hope so, with how many times we've spared. Hey, did you say you were comming out to Cali one of these days?

I'd really like to, and I have May 13-June 1st free of everything, so I might hop in the stang and make a road trip with a couple buddies.

 

[StangTang]

my workplace is in chapter 11, fuck winn dixie

 

[AtlanticBlue99]

my workplace is kickass- publix rocks :rock

grocery store work kicks ass- all the chicks buy groceries....