The new bankruptcy law – the truth against the new BK law changes. 20. April 2005, George Bush signed a new “Bankruptcy Abuse and Consumer Protection Act” into law.

The bankruptcy abuse? Do you know anyone personally who has abused the bankruptcy legislation, and that consumers really protected? Or if a new bankruptcy bill called consumer harm and to protect the banks fraudulent Act?

We will see soon. . .

To understand these new bankruptcy laws unjust, and helps you see that you should avoid bankruptcy to cover the original purpose of the BK laws.

According to U. S. Bankruptcy court, the main purpose of the old bankruptcy Chapter 7 bankruptcy, Chapter 11 and Chapter 13 bankruptcy laws: 1) to give an honest debtor a fresh start on life by freeing the debtor of most debts, and 2) the recovery of creditors of banks’, controlled the extent that the debtor has real estate to pay.

Apparently the main purpose of a new law on banking system credit card BK: 1) restore the banks ‘creditors’, controlled the extent that the debtor must pay the property.

However, the new BK laws, that the honest debtor a “fresh start” for life, facilitating the debtor’s main debts are eliminated.

Finance companies and banks credit card no responsibility for the changes necessary failure. 003% fault of the old bankruptcy law.

Sponsors of the bill claim that most bankruptcy personal cases involve irresponsible monetary amount of purchases or played out of their money and now want to pay their creditors so the new BK legislation, to eliminate “filing bankruptcy for convenience”.

Nothing is further from the truth, then these alleged claims by credit card, banks and finance companies. And as you dig deeper into these pages to see who is really wrong, that the U.S. credit, financial and banking game.

They argue that the failure to pay by credit card banks billions of dollars every year, and these costs are passed on to customers in the form of interest rates.

Of course, this would be true if the credit card loans in the banks themselves one of its own funds or client deposited the money. For more information, please read about the history of money and banking secrecy that banks do not want to publish.

It makes filing bankruptcy more difficult for those who have financial difficulties, the legislators say that more people pay their bills, credit card companies to save billions of dollars, and the savings passed on to consumers in the form of low interest rates .

We never heard of a company credit card, lowering interest rates voluntarily, and we know that will never be.

New Bankruptcy Act Highlights

Highlights of the banks credit cards new bankruptcy law are:

The new bankruptcy law relative to the income of people in bankruptcy. If the debtor is at least $ 100 per month left over when the IRS determined monthly expense plan, (can you image?) The debtor is forced to file for Chapter 13 and paid over five years.

Try to imagine life after bankruptcy now.

They can file Chapter 7 of the federal Bankruptcy Code, which would remove all their unsecured claims.

There are no provisions in the debt problems of bankruptcy due to loss of job, illness or other traumatic events, although studies show that these are the largest bankruptcy cases.

Can you say Debt Slave?

These new, credit card BK laws, attorneys are now responsible for the accuracy of the paperwork done by their customers. So in other words, they must now search the drawers for those hidden family heirlooms.

This undoubtedly fewer bankruptcy attorneys, with the remaining increase taxes to cover this additional risk.

The new bankruptcy laws most consumers are now fully exposed to losing a job or have health problems. They can not begin filing for bankruptcy, Chapter 7

This is to help the less useful to lawyers BK because the new bankruptcy law liability clause.

Giving an honest debtor a “fresh start” for life, facilitating the debts of the principal debtor has given up entirely by the new bankruptcy law.

However, a surprising discovery is made, you can not lose to learn. Now you have to avoid BK because there is consumer protection, the new Bankruptcy Abuse and Consumer Protection Act, if an application for failure of new bankruptcy law.

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