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www.eInvesting.com Forum Index » Saving Money

Bankrupcy Laws


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Benjamin
PostPosted: Fri Apr 15, 2005 4:00 am Post subject: Bankrupcy Laws Reply with quote

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Just wondering what everyone thinks of the new bankrupcy laws that'll make it harder to start over for a lot of families.

http://story.news.yahoo.com/news?tmpl=story&cid=514&e=4&u=/ap/20050415/ap_on_go_co/bankruptcy_41

A lot of bankrupcy lawyers may be out of work! Shocked

Good for big business so better for stocks? More homeless? More on Welfare?
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Dave Rathbun
PostPosted: Fri Apr 15, 2005 6:52 am Post subject: Reply with quote

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I'm not a lawyer, so I don't know that I can comment directly on the new laws. But what has bothered me for a long time in the US is this shift to "It's not my fault" rather than taking responsibility for our actions. Drink a lot? Father abused you when you were a child, so it's not your fault. Can't keep a job? It's upper management putting roadblocks in your way. Can't pay your bills? Not to worry, it's those nasty credit card people, and we'll just say that you don't owe them anything any more.

Like any other law, as soon as it is passed (or perhaps sooner) there will be lawyers looking for loopholes to exploit. The law, in my opinion, is a good idea if it makes people responsible. The people against the law will be sure to trot out the "poor innocents" that are being hurt by the law, and much mayhem and publicity will ensue.
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