Piglet 0 Posted March 6, 2005 Share Posted March 6, 2005 You want it to be harder to file bankruptcy? You want people to be forced to be responsible and pay their bills? OK, fine. But explain to mewhy EVERY Republican Senator--yes, that's including Shelby and Sessions--voted NO on the following proposals: 03-Mar On the Amendment S.Amdt. 42 Schumer Amdt. No. 42; To limit the exemption for asset protection trusts--the bankruptcy dodge that allows rich people to move all their assets into a "protective trust"--then file bankruptcy and have all their debts discharged--AND THEY KEEP EVERYTHING THEY PUT INTO THE TRUST. If there's one provision in bankruptcy law that is open to fraud, that's it, and yet the Republicans--every one of them--did not touch it. If it ain't because Republicans are whores for the rich, then tell me why they did it? 03-Mar On the Amendment S.Amdt. 49 Durbin Amdt. No. 49; To protect employees and retirees from corporate practices that deprive them of their earnings and retirement savings when a business files for bankruptcy. Remember those Enron employees who lost their shirts because the upper-ups kept encouraging them to max out their 401(k)s into Enron stock, even though the upper-ups knew Enron was about to go under? Explain to me why the Republicans say those employees ought to be out of luck while MBNA should be protected? 03-Mar On the Amendment S.Amdt. 37 Nelson (FL) Amdt. No. 37; To exempt debtors from means testing if their financial problems were caused by identity theft. If there's one area where you SHOULD get maximum protection, it's when you're forced into bankruptcy because some bandit made off with all your stuff by pretending to be you. Guess I'm in the minority, though. 03-Mar On the Amendment S.Amdt. 31 Dayton Amdt. No. 31.; To limit the amount of interest that can be charged on any extension of credit to 30 percent. 02-Mar On the Amendment S.Amdt. 32 Corzine Amdt. No. 32; To preserve existing bankruptcy protections for individuals experiencing economic distress as caregivers to ill or disabled family members. Every Republican Senator voted against this one, too. Family values? Sorry, that's just for when we're running for re-election. 02-Mar On the Amendment S.Amdt. 28 Kennedy Amdt. No. 28.; To exempt debtors whose financial problems were caused by serious medical problems from means testing. 02-Mar On the Amendment S.Amdt. 15 Akaka Amdt. No. 15; To require enhanced disclosure to consumers regarding the consequences of making only minimum required payments in the repayment of credit card debt, and for other purposes. Look, people have a responsibility to stop being stupid, and all that. But credit card companies are deliberately preying on the gullible. This provision would have done little harm and a whole lot of good. 02-Mar On the Amendment S.Amdt. 17 Feingold Amdt. No. 17.; To provide a homestead floor for the elderly. 01-Mar On the Amendment S.Amdt. 16 Durbin Amdt. No. 16, As Modified.; To protect service members and veterans from means testing in bankruptcy, to disallow certain claims by lenders charging usurious interest rates to servicemembers, and to allow servicemembers to exempt property based on the law of the State of their premilitary residence. So much for supporting the troops who offer everything they can give in the service of their country. EVERY Republican Senator voted against this simple gesture of decency. No protection for the homes of the elderly and the medically infirm -- but by God, we made sure those exemptions for protected assets stayed firm. No protection for employees' earnings, pensions and retirement savings when an employer takes refuge in bankruptcy - but by God, we're gonna protect those credit card companies from too many intrusive rules that demand they properly inform their consumers of the small-print deal with the devil they've just made on that high-interest, high-limit, low-minimum-payment credit card. Link to comment Share on other sites More sharing options...
DKW 86 7,440 Posted March 6, 2005 Share Posted March 6, 2005 What is it 3/4 of the Congress have declared bankruptcy themselves. This is one area that I think and pray gets massive reform. I do have one thought for the post. Most amendments are killed off/not supported for small technical reasons. I bet some of thesem were as well. I doubt the Dems really fought hard to keep them anyway. No one in Congress wants real bankruptcy reform. They are usually guilty of it themselves. Link to comment Share on other sites More sharing options...
Piglet 0 Posted March 6, 2005 Author Share Posted March 6, 2005 http://www.senate.gov/legislative/LIS/roll..._menu_109_1.htm Look at the roll call votes yourself. Bankruptcy may need reform, but this sure ain't the way to do it. And Democrats may not have fought hard enough for the good amendments, but the Republicans fought hard to kill it. This is what happens when one party controls the whole government. They're going overboard rewarding their big money contributors like MBNA, and screwing everyone else. Link to comment Share on other sites More sharing options...
Auburn85 432 Posted March 7, 2005 Share Posted March 7, 2005 What about all those non-profit organizations that talk to creditors to reduce your monthly payments? Link to comment Share on other sites More sharing options...
Piglet 0 Posted March 7, 2005 Author Share Posted March 7, 2005 What about all those non-profit organizations that talk to creditors to reduce your monthly payments? 149634[/snapback] I dunno, what about them? I don't know much about "credit repair" though what little I've heard indicates they're well-meaning but ineffective. Link to comment Share on other sites More sharing options...
DKW 86 7,440 Posted March 7, 2005 Share Posted March 7, 2005 The exact opposite was true with Bankruptcy Reform. I was the victim of a a Bankruptcy precedure (ex-wife) a while back. I challenge anyone to go to a bankrutcy hearing. Most were there because the bankruptcy laws were changing in 99. She and her husband/boyfriend filed in OCT 98 to beat the rush. Hearing was in early 99? Anyway, about 40% of the folks there were filing their 2nd- 4th bankruptcy. They were intentionally abusing the system. Her Union kept an attorney on retainer to handle all the Union member's bankruptcy claims. Dave Ramsey calls most of these non-profit agencies rip-offs and gives examples on his show all the time. often, they just extend your debt and take your money and do nothing you couldnt have easily done yourself. Link to comment Share on other sites More sharing options...
Ranger12 46 Posted March 8, 2005 Share Posted March 8, 2005 The best and quickest way to repair your credit is to just start living within your salary and pay your bills on time. Those credit repair and debt consolidation companies are a scam and will cost you more money. The first thing you can do to help repair your credit is to get on Equifax.com and pay a small fee to get your full credit report. At that time you can dispute anything on your credit that should not be there. A trick I have learned is to dispute everything anyway, especially medical bills from bill collectors. Sometimes, legitimate stuff will be taken off because it could not be verified from the credit reporting agencies. I currently speak from experience because I just lost my job last week and I am currently unemployed. We don't how we are going to live on just my wife's salary until I can find something decent, but if I have to take a lower paying job, then I will. I have twice divorced and been laid off before. There is a way to work through it if you really want to do it. Until then, we will find a way to live withing what we are bringing in. You will be surprised what you can live on when you really have to do it. Bankruptcy is not an option. I know too many family and friends that went that route and it has been very hard for them to ever be able to get good interest rates. It looks better if you got behind, but paid off your bills rather then file bankruptcy. It sticks with you alot longer then the 7-10 years. Also, like David said, alot of people do it more then once as it becomes an "out" every time after that. So, I would prefer to just not do it a first time. As far as political parties go, Piglet, don't be naive to believe that one party has a better philisophy about this then the other. Just about all politicians have a vested interest in not making the bankruptcy laws any tougher. Remember that most are lawyers. This is all just bs, from both parties, to act like they are actually doing some work. IMO, there are far more important things that need to be tackled on Capitol Hill. Link to comment Share on other sites More sharing options...
Auburn85 432 Posted March 8, 2005 Share Posted March 8, 2005 The best and quickest way to repair your credit is to just start living within your salary and pay your bills on time. Those credit repair and debt consolidation companies are a scam and will cost you more money. The first thing you can do to help repair your credit is to get on Equifax.com and pay a small fee to get your full credit report. At that time you can dispute anything on your credit that should not be there. A trick I have learned is to dispute everything anyway, especially medical bills from bill collectors. Sometimes, legitimate stuff will be taken off because it could not be verified from the credit reporting agencies. I currently speak from experience because I just lost my job last week and I am currently unemployed. We don't how we are going to live on just my wife's salary until I can find something decent, but if I have to take a lower paying job, then I will. I have twice divorced and been laid off before. There is a way to work through it if you really want to do it. Until then, we will find a way to live withing what we are bringing in. You will be surprised what you can live on when you really have to do it. Bankruptcy is not an option. I know too many family and friends that went that route and it has been very hard for them to ever be able to get good interest rates. It looks better if you got behind, but paid off your bills rather then file bankruptcy. It sticks with you alot longer then the 7-10 years. Also, like David said, alot of people do it more then once as it becomes an "out" every time after that. So, I would prefer to just not do it a first time. As far as political parties go, Piglet, don't be naive to believe that one party has a better philisophy about this then the other. Just about all politicians have a vested interest in not making the bankruptcy laws any tougher. Remember that most are lawyers. This is all just bs, from both parties, to act like they are actually doing some work. IMO, there are far more important things that need to be tackled on Capitol Hill. 149846[/snapback] Can I get an AMEN??!! My family(of 4) makes around $45,000 before taxes. We lived in a 2 bedroom , 1 bathroom house. It had 1081sq ft. We lived in that house for over 15 years. The house was obviously not in great shape, but we managed. We paind around $25,000 for the house. We recently sold it and had our morgage nearly paid off. We were able to buy a 28x60 double-wide. We got a 97 model for $20,000 including delivery and set up. And no this wasn't a rip-off. We found a great home for a great price. Our vehicles are : 87 Chevy s-10, 89 Mazda 626 and 90 Toyota Camry We have no credit cards. We are currently debt free, well sort of. We have one more payment of college tuition for the semester If we can survive with under 50 grand with a family of 4. Then, anyone should be able to. At leat in Alabama or Southern states. Link to comment Share on other sites More sharing options...
Auburn85 432 Posted March 11, 2005 Share Posted March 11, 2005 The bankruptcy reform passed in the Senate Link to comment Share on other sites More sharing options...
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