This bankruptcy bill is going to brew up a perfect storm

Coming next spring. When the moran* signs it into law 180 days later it takes affect, by my reckoning that is the latter part of October or early November, just in time for the christmas shopping season.

Now, I'm aware that most bk's are from medical bills, how well I know that, but, we have been conditioned to spend spend spend for christmas, and most of the spending is done with plastic.

The plastic christmas bills will come in the following spring, hard on the heels of a cold, dark winter. One of high energy bills to both heat your home and gas for your car.

Interest rates will be rising, we're going to see a spike I believe, unemployment will be going up more than the usual winter spike. Draft noise will be very loud if not a reality.

Then all those feel good christmas bills that people put on the plastic are going to come in. What then? The bk bill is now law, you have to pay, miss a payment or send a partial and your interest rate goes through the roof.

Creditors will hound the hungry, cold victims of the repitilian government, homes and cars will be lost, jobs will be lost, hindsight will be 20/20, and maybe then people will do something about these evil people they put into power.

It's our job to point them in the right direction when the hanging parties form.

CC companies are jacking up people's rates if they pay their bills late...bills which are UNRELATED to paying their credit off.

Personally, I don't think they should be able to do it. I had a brief discussion with hubby last night about it...His take being "that's what they (the people) signed off for." I disagree that everyone read all of the small print. :shrug:

you made some good points.

And I wish somebody's sorry ass would get hanged for this.

bankruptcy. Changing the way bankruptcy laws will work does not change the fact that if you do not have the means to pay you can't pay.

There is no room in the prisons for everyone that might or will go under.

It is another cold, cruel act by these people for their filthy rich friends.

They won't throw debtors into prison...instead, there's going to be a return of indentured servitude, probably coupled with an initiative to forgive debt in exchange for military service.

Tucker

And I do not mean the big, down town, prestige law firm lawyers. I mean the other 90% - the lean hungry kids just out of law school. This will be bigger then civil rights for the hungry young lawyers of the 1960's.

Forget about "class actions" - the old way to challenge cc billing practices. With Bush judges in the Federal Courts - these cases will go to local courts -- and the case law is pretty good that local state court judges can NOT order consolidation into class actions and removal to Federal Court without consent of the plaintiffs.

If they are individual cases - not consolidated -- these lean hungry young lawyers will communicate and co-ordinate over the net -- just like a big 2000 lawyer firm.

Strategy - make the creditors prove each and every charge on each and every statement.

Challenge each and every late charge, over limit charge, etc -- and each and every compounded interest charge.

Challenge each and every statement issued after a "Universal Default" (where they raise your interest after you have been late on another card or utility bill).

Turn every unpaid health care bill into a threat of a malpractice suit-- and into a questioning of disparate billing practices as between what insurance companies pay for and what insured patients pay for and what uninsured patients pay for. (I would love to see this happen with MISTER Bill Frist's HCA Hospital Chain. Maybe MISTER Frist should read Himmelstein, Warren, Thomas, and Woolhandler, MarketWatch: Illness And Injury As Contributors To Bankruptcy, Health Aff (Millwood). 2005 Feb 2; http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrieve&db=pubmed&dopt=Abstract&list_uids=15689369 , published by the Medical School he claims to have graduated from)

I am sure that these lean and hungry young layers will find some way to sue and collect from the creditors.

Last night on CNN's poll (which tends to lean left), the response was that 74% agreed that Americans abuse bankruptcy.

1. Very high income entrepreneurs who hide their assets in abusive homesteads in Texas and Florida and in Nevada Asset Protection Trusts. Like Paul Bilzerian of "Bicoastal Corporation" fame.

2. Corporate Chapter XI Reorganizations - especially to shed retiree benefits, pension plans, and collective bargaining agreements.

Neither of these abuses were touched.

Once again it is the little guy getting screwed over by greedy Republicans.

When will people wake up and learn?

Financial trouble is a big cause of breaking families up, this is going to be hitting a gnat with a sledge hammer.
Then the divorced spouse with the children is going to have to fight creditors for child support.
They're nuking the American family, so much for good christian repubilcan family and moral values.