I heard the Congress has drastically changed the bankruptcy code. Whats that all about?
Please see this special page on the subject. The new law is presently is in effect. It is called the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The “abuse” in “abuse prevention” under the act can be really be read as “credit card company loss” prevention. The “consumer protection” in the name of the act is pretty much read the same way as “democratic” is in the “Democratic People’s Republic of North Korea.” A better name for the act would be the “30% Interest Rate is Not Enough if We have a 3% Default Rate Act.” or the “Look Who MBNA, First USA, Bank of America and the Credit Card Industry and the Credit Card Bought Act.
Related Questions
- If Congress changes the bankruptcy code, does that make my Federal forms software obsolete and do I have to purchase a new license when the changes go into effect?
- I heard the Congress has drastically altered the bankruptcy code in 2005. What changed?
- I heard the Congress has drastically changed the bankruptcy code. Whats that all about?
