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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (31768)	5/8/2000 8:07:00 PM
From: patron_anejo_por_favor	Respond to of 42523

Good point, Coby. At the behest of the banking/credit industries, the House passed a bill last winter that put a national cap on the Homestead exemption, and required that a debtor not be allowed to simply discharge all debts through bankruptcy (Ch. 11?)if they possessed assets exceeding (approximately) 30% of the total debts. Interestingly, opponents to the law argued that the banks should be more diligent in rejecting non credit-worthy applicants...but that advice fell on deaf ears. How fitting in this credit bubble we find ourselves in. TL & EV just became a great deal more painful.....