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Congress ponders change in Bankruptcy Law

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    #1

    Congress ponders change in Bankruptcy Law

    Interesting!

    http://www.timesargus.com/apps/pbcs.dll/article?AID=/20080110/BUSINESS/801100311/1006/BUSINESS
    You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing
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    #2
    I think the major reason for these changes is to reduce the impact of home mortgage crisis on the overall economy and also reduce the number of bankruptcy cases for the going year. The facts and figures mentioned in the report seemed to be in favor of these changes. Mortgage and Home loan industry will be directly affected by these new amendments in bankruptcy law.

    Comment

      #3
      This bill died in the Senate.

      Comment

        #4
        Cbarbra, I deleted your signature with commercial links - it's against our forum rules to include these unless you have prior permission from our administrator, Lazar, or until you've made 100 quality posts here in the forums.
        I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

        06/01/06 - Filed Ch 13
        06/28/06 - 341 Meeting
        07/18/06 - Confirmation Hearing - not confirmed, 3 objections
        10/05/06 - Hearing to resolve 2 trustee objections
        01/24/07 - Judge dismisses mortgage company objection
        09/27/07 - Confirmed at last!
        06/10/11 - Trustee confirms all payments made
        08/10/11 - DISCHARGED !
        10/02/11 - CASE CLOSED
        Countdown: 60 months paid, 0 months to go

        Comment

          #5
          yes the bill is dead sad but true
          Started in Chapt 13 Switched to Chapt 7 Discharged 2009 Dec.........Filed New Chapt 13 in 2010 to deal with new surgery bill and stripped second mortgage! The story continues

          Comment

            #6
            I heard that President Bush is opposing any change to the bankruptcy law.
            sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."

            Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:

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