New Law Delay???

[allbroke]

I just heard Howard Dean last night talking about the way Bush was handling the Katrina situation.
He commented on how they need to put the law change off for a year or exempt citizens from those states for a certain length of time because of how many people will need to file because of this disaster.
I wonder if anything like that would ever happen?

[Minnymouth]

IT POSSIBLE - BUT NOT PROBABLE..........
Everything is setup and ready to go with the new law....... a delay would change everything.........
Congree may pass a certain clause for "disaster victims" to use during BK.........that is a thought.........they've been totally wiped out...........

We'll see,

Minny

[HHM]

There have been some bills introduced in Congress to delay the effective date of the new law, but I don't think there has been a vote.

I wouldn't count on it, and if they do anything, they will probably just right in an exception for Katrina or natrual disasters generally.

[hhou812hh]

There have been some bills introduced in Congress to delay the effective date of the new law, but I don't think there has been a vote.

I wouldn't count on it, and if they do anything, they will probably just right in an exception for Katrina or natrual disasters generally.

Seems strange that they would make any changes. If there will be any delay in the new law then that would be an admission by congress that the new law is "unfair" to debtors.

Most of these Natural disaster victims can qualify for a ch7 anyway, but their legal bills will be higher and they have to wait for at least six months to file. God bless them all and good luck!

[HHM]

Seems strange that they would make any changes. If there will be any delay in the new law then that would be an admission by congress that the new law is "unfair" to debtors.

Most of these Natural disaster victims can qualify for a ch7 anyway, but their legal bills will be higher and they have to wait for at least six months to file. God bless them all and good luck!

Here is a good article on the problem http://www.abanet.org/journal/ereport/s16bankrupt.html

Let me know if you can't see the article.

Also, here is a list of the various legislation pending regarding the new bankruptcy law

H.R.3662 - To delay for 2 years the general effective date
of the Bankruptcy Abuse Prevention and Consumer Protection
Act of 2005.
Sponsor:Slaughter, Louise McIntosh (introduced 9/6/2005)
CRS Product: RL33082 Bankruptcy Relief and Natural Disaster
Victims

http://www.congress.gov/cgi-lis/bdquery/z?d109:HR03662:/

H.R.3697 - To amend title 11 of the United States Code
to provide relief with respect to disaster-related debts
incurred by victims of Hurricane Katrina and other natural
disasters.
Sponsor:Conyers, John, Jr. (introduced 9/8/2005)
CRS Product: RL33082 Bankruptcy Relief and Natural Disaster
Victims

http://www.congress.gov/cgi-lis/bdquery/z?d109:HR03697:/

S.256 - A bill to amend title 11 of the United States Code,
and for other purposes.
Sponsor:Grassley, Chuck (introduced 2/1/2005)
CRS Product: RL33082 Bankruptcy Relief and Natural Disaster
Victims

http://www.congress.gov/cgi-lis/bdquery/z?d109:SN00256:/

S.1637 - A bill to provide emergency relief to meet the
immediate needs of survivors of Hurricane Katrina for health
care, housing, education, and financial relief, and for
other purposes.
Sponsor:Reid, Harry (introduced 9/8/2005)
CRS Product: RS22022 Disaster Unemployment Assistance (DUA)
CRS Product: RL33084 Unemployment and Employment Programs
Available to Workers from Alabama, Louisiana, and Mississippi
Affected by Hurricane Katrina

http://www.congress.gov/cgi-lis/bdquery/z?d109:SN01637:/

S.1647 - A bill to amend title 11, United States Code,
to provide relief to victims of Hurricane Katrina and other
natural disasters.
Sponsor:Fei

[hhou812hh]

Interesting reading........


Thanks again HHM!

[sunshine08]

HHM - we are so glad for your thoroughness and attention to detail. (as well as trying to keep some of us in line) Just wanted to give you a heartfelt thank you!!!!!!!!