Bush to sign bankruptcy legislation

Edwards Finance > Loans

Q. I worked in collections for 7 years. The debtors who filed bankruptcy back then had *no way* to pay back the debts. What makes Bush think it is any different today?

A. Supposedly the credit card companies were the ones pushing for this legislation, claiming that a lot of people were filing bankruptcy after running up massive bills intentionally. In all the years I was in collections, I only had one (maybe two) cases like this. It was a situation of two people getting divorced and the soon-to-be-ex-wife calling me and saying she "was going to run up the cards and take off for what he did to me." I just didn't see this so-called massive abuse of the bankruptcy laws that warranted today's legislation. In fact, we were advised to counsel *against* someone filing, refer them to CCCS (that wasn't always a good idea, since THEY many times advised people to file, the credit counselling agencies weren't the greatest), or in the case of a college student, we got an earful from the parents ("why did you send my son/daughter this card?") before the account came close to rolling out of my unit into the pre-legal area. With this legislation a victim of identity theft cannot file for bankruptcy thereby assuring the credit card company will have someone to dun for years. Bush and the repugs are always looking out for the major contributors assuring americas government is no different than any third world cesspool just more expensive.

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