Consumer Law In the News
Barack Obama Talks Bankruptcy Changes
From AP:
Obama’s new bankruptcy proposals supplement his broader — and previously announced — bankruptcy reform agenda that includes changes intended to help people in financial distress because of medical bills and allow homeowners going through the bankruptcy process to renegotiates terms of their mortgages.
The Democrat said he also would help service members and military families struggling financially after multiple moves, lengthy deployments and, in some cases, predatory lenders, saying, “If you’re protecting America, America should be protecting you from unfair bankruptcy laws.”
I’m all for anyone who can provide meaningful relief from the unbelievably bad law that has contributed to the whole foreclosure crisis by making it harder (but not impossible) to protect homes. But seriously — just service members? The entire country should be protected from unfair bankruptcy laws. Don’t you agree, Senator?
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