Bill aimed at strengthening the regulatory approach Bankruptcy OK
Congress is in proximity with the approval of a lump sum bankruptcy report that it is difficult for many families to wipe off his debts.
Creditors say it would cease to accounts receivable in bankruptcy to erase that they can afford. But consumer advocates say it would punish people trying to manage a medical crisis, dismissal or divorce.
A negotiated solution, as amended by Law is ready to go to the House of Representatives and the Senate for a vote, but it is stalled by a provision aimed at preventing opponents of abortion on reconciling bankruptcy wegzaubern fines because of violent protests in abortion clinics.
A number of responses around the bill:
Q: When is it a force?
A: The law will enter into force six months after signing it President. “People do not fall into panic,” said Samuel Gerdano of the American Bankruptcy Institute. “You have time for a rhyme”.
Q: What is the impact on consumers?
A: Among other things, the bill would be a formula for the file can be used for Chapter 7 bankruptcy, the most popular form of bankruptcy, because it most non-repayment of debts, such as numbers credit card bills.
In accordance with the law can be anyone, deserves more than the median income of the family would have been a financial assessment if they could afford to pay 25% of the debt, not over a period of five years They would normally, it is not in the location of files Chapter 7 bankruptcy. Instead, they would have to file Chapter 13 bankruptcy of the debtor in developing a repayment plan for most debts over several years.
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