Thursday, October 06, 2005

Does this bankruptcy measure sound like it's good enough?

-People filing for bankruptcy who were affected by Hurricanes Katrina and Rita will get some leeway in meeting requirements of a strict new law.

The Justice Department's U.S. Trustee Program announced the action on Wednesday, a day after the department temporarily waived for hurricane victims the law's requirement that people filing for bankruptcy get credit counseling first. The new guidelines "take into account the hardships experienced by victims" of the Gulf Coast hurricanes, the program said.

A guideline which "takes into account the hardships" doesn't sound like enough to me. The new bankruptcy law never should have been passed in the first place, and now it will create extra hardships on people who are already struggling. It will slow down the recovery as well. But Sensenbrenner is opposed to providing a one-year grace period to hurricane victims. Who's paying his salary?
Sensenbrenner opposes legislation put forward by Democratic lawmakers that would provide a one-year grace period after Oct. 17 for people affected by the hurricane to file under the more lenient current bankruptcy law.

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