Bankruptcy Secrets
The New Bankruptcy Law
On April 20, 2005 President Bush signed into law a new bankruptcy law. Except for a single provision, the law took effect on October 17, 2005. This new bankruptcy law will make it much more difficult for people to get bankruptcy relief under Chapter 7.
Many others will be forced into painful five year long Chapter 13 bankruptcy repayment plans that amount to little more than financial slavery. To ensure you get the Chapter 7 version, more than ever before you'll need the help of an experienced bankruptcy attorney, but due to one provision in the new law, you may find it much harder to find such aid. And if you do, you'll pay much more for their services, just when you'll have very little cash available.
The credit card industry pushed this bill through and is celebrating it's effects. They claim that too many people were claiming bankruptcy too easily. This new bankruptcy law will destroy families and at the same time add an estimated 5 billion dollars to the credit card industry's profits at a time when the credit card banks are reporting all-time record profits!
