Last login: 3 days agoShatteredhalo
shatteredhalo is a 24 year old woman from New Orleans, Louisiana, USA.
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Bankruptcy Reform Bites Back
Liked it Nov 6, 2007 4:17am 2 reviews http://www.businessweek.com/magazine/...
From the page: "By contrast, the new law was designed to protect creditors. For one thing, only low-income borrowers can file for Chapter 7, which wipes out debts. The amended law pushes more people into Chapter 13, which forces households to accept 3-5 year repayment plans on all debtsâ€"secured and unsecured. In other words, they're still trying to make payments on car, credit card, medical, and other bills that used to be discharged in Chapter 7."