House Judiciary Committee Chairman James Sensenbrenner, R-Wis., predicted the bill (Bankruptcy Reform Law) would recoup "billions … in losses associated with profligate and abusive bankruptcy filings." Here it is one year later that Bankruptcy Abuse Prevention and Consumer Protection Act went into effect. Americans are far worse off and suffering further financial devastation.
Consumers in need of bankruptcy relief are being funneled through a process designed to wring out every last penny they have left. The National Association of Bankruptcy Attorneys (NACBA) in a survey of six Department of Justice (DOJ) approved credit counseling agencies found that 96.7 percent of their 61,335 customers were too insolvent to repay their debts! These were not overspending deadbeats, 79 percent were in financial trouble due to job loss, medical bills, death of a spouse or divorce.
I feel that readers would be most interested in learning to use the law to settle or eliminate their Credit Card Debt in their favor. The accompanying Categories are aimed at informing Consumer about the laws. Un-fortunately, if you not know your rights…you have none and the Credit Card Industry is ready to exploit that ignorance.
I urge you to inform yourselves with this knowledge that could empower your financial lives by eliminating the need for filing bankruptcy, consumer credit counseling or debt consolidation. Let us expose alternative ways to free ourselves and eliminate their credit card debt. Pass on this site. Your friends will applaud you for this introduction and a different view on their road to explore to achieve their financial freedom.
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