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Chapter 7...gone?

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Chapter 7...gone?

Unread postby frankthetank » Mon 14 Feb 2005, 19:32:48

$this->bbcode_second_pass_quote('', 'T')he bill, sponsored by Sen. Charles E. Grassley, R-Iowa, would end the ability of consumers to use Chapter 7 of the federal bankruptcy code to wipe out credit card bills and other loans unsecured by a house or other asset. Instead, those debtors would have to file under Chapter 13, which requires a court-approved repayment plan.


I've been waiting for stronger bankruptcy laws. I've personally seen way too many people take advantage of the system.

Wait until the next bill gets passed with words like "work camp" in the wording. :)

http://www.chron.com/cs/CDA/ssistory.mp ... ss/3037709
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Unread postby frankthetank » Mon 14 Feb 2005, 19:38:47

$this->bbcode_second_pass_quote('', '"')A lot of those credit cards charge those higher rates because they have to pay for the cost of people who don't pay their credit card bills," Santorum said. "They have to change those rates to make up for the costs."


Reading through the article again i came across this that made me laugh. I'm sure there is some sort of tax write off for these companies due to people not paying there bills. Hospitals can write off bills up to a certain amount.

This is a baloney excuse to gouge people with high percentage rates. I remember my mom having a card with a 22% rate.
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Re: Chapter 7...gone?

Unread postby rerere » Mon 14 Feb 2005, 23:42:46

$this->bbcode_second_pass_quote('frankthetank', 'W')ait until the next bill gets passed


Look at it this way: While life is easy and comfortable, few will stand up for change.

As more have less and less to loose, actions will become more and more 'radical'.

"Freedom's just another word for nothing left to loose."

What SHALL the sheeple do as things downhill and they have lost much of their creature comforts? What shall they do when their home is repo'ed?
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Unread postby BabyPeanut » Tue 15 Feb 2005, 08:30:04

Image
Hogarth, William The Rake thrown into Debtor's Prison, 1735
engraving on wove paper
Gift of Mr Henry Elder
AGGV 81.65.3

http://collections.ic.gc.ca/teajourney/ ... ec=1&Sub=4
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