Bush Signs Big Rewrite of Bankruptcy Law
news.yahoo.com
My Comment:
Wow, they really ramrodded this bill through, and signed it quick. Think about how this is setting up, a "perfect storm" is brewing. Look, we're getting inflation, mortgage payments are double the cost of rent, most new loans are ARMS, and credit card debt is high, wages are not increasing, we have more foreign competition.
If your income is level, and your ARM payments are going up, and your credit card payments are going up, and you can't afford the payments, and your home has negative equity, and you can't declare bankruptcy, what are you going to do? |
