16 Feb Bankruptcy Gets The Attention of The News Media
Finally bankruptcy gets some respect. Now, more than a year after the bankruptcy law changes went into effect, newspapers and television are starting to examine what these changes have done to the middle class. The biggest criticisms are directed to the pre-bankruptcy credit counseling and document production requirements. If you are facing immediate foreclosure of your home, these two requirements could act to prevent you from filing an emergency case or subject the case to automatic dismissal.
The stories about collection agency abuses and the effect of the bankruptcy law changes are getting the attention of Congress. Efforts are now underway to examine issues surrounding bankruptcy such as predatory lending, foreclosures, credit card terms, and restoring the “fresh start” remedy of bankruptcy. Recently, PBS and 20/20 ran pieces on these issues. Check out “Debt Collectors Gone Wild” and “Digging Out of Debt“.