sam1000
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Cash: $ 21.05
Posts: 95
Joined: 28 Jul 2005
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| New Bankruptcy law |
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I have heard arguments that the new Bankruptcy law virtually has no effect since most people who declare bankruptcy earn below the median state income and will still be able to file Chapter 7. Any truth to this?
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Tue Sep 13, 2005 6:13 am |
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joseanes
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Cash: $ 10.20
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Joined: 30 Aug 2005
Location: Marlborough, MA
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Most poor people will not be affected.
Just high earners who excape debts will be.
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Tue Sep 13, 2005 3:18 pm |
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sam1000
Full Member
Cash: $ 21.05
Posts: 95
Joined: 28 Jul 2005
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quote:
Originally posted by joseanes
Most poor people will not be affected.
Just high earners who excape debts will be.
Yeah, that is what I thought. But here is the question. I know A LOT of low income people who indeed abuse credit privileges.
If the middle class are going to be held accountable by this law then why not the poor too? I think the law should be uniformly applied, instead of a means test just mandate that everyone has certain deductions after which the rest (if anything is left) goes to paying off the debt.
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Thu Sep 15, 2005 4:51 am |
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