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March 4, 2005

Because Having a Bankruptcy on Your Record for Ten Years Wasn't Bad Enough

In case you didn't know, when you as an individual file for bankruptcy, it stays on your credit report for TEN YEARS. Now, big business and their backers (aka Congress) want to make it even more difficult for you to recover from a mound of debt. From CQ Midday Update:

Senate Republican leaders today filed for cloture on legislation to overhaul the federal bankruptcy code, hoping to end an amendment process that has already chewed up four days. If 60 senators vote "yes" when the cloture motion comes to a vote on Tuesday, debate would be limited and non-germane amendments would be barred. GOP leaders want to wrap up work on the bankruptcy bill next week so the Senate can turn to the fiscal 2005 Iraq war supplemental and the fiscal 2006 budget resolution before beginning its spring break March 18. The big test next week will be an amendment to be offered by Charles E. Schumer, D-N.Y. It would bar debtors from using bankruptcy proceedings to escape court fines imposed for violent protest activities, including those aimed at abortion clinics. The overall bill is aimed at making it more difficult for individuals to escape their debts through bankruptcy proceedings.
Emphasis added. Good to know the Dems are going to bat against all those thousands of clinic protestors who are filing for bankruptcy, but avoiding the larger issue. ARG!

Just to clarify, protesting at reproductive health clinics is abhorrent to me. Also abhorrent are elected lawmakers who put the whims of large corporations ahead of their real-life human constituents.

Posted by cj at March 4, 2005 6:15 PM

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