The White House website has been updated to announce the Obama administration position on changes needed in the bankruptcy law. The administration promises to reform corporate bankruptcy laws to protect workers and retirees. Bankruptcy and credit card laws were included on the list of promised reforms. The information posted by the incoming administration complains that [...]
Obama Bankruptcy Promise
The Obama transition has clarified its position on the modification of home loans in bankruptcy. Obama and Biden are calling for a change in the bankruptcy code to allow modification of the terms of loans on the debtor’s primary residence. With the recent introduction of legislation by Senator Dick Durbin to modify the bankruptcy code, [...]
