What Now?: May
From May 2005
Community Comments
MICRA, MIDS and Bankruptcy
By Melinda Eppler
On March 10, 2005, the Republican-controlled United States Senate voted 75 to 24 to pass S. 256 (Charles Grassley, R-Iowa) the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
Sen. Hillary Clinton (D-New York) abstained from the vote stating that the bill “places a thumb on the scales of justice against Americans who have done nothing wrong and who are simply the victims of a difficult economy or bad luck” and that “nowhere is this bill more flawed than in its failure to recognize the devastating and growing problem of medical bankruptcy.”
It’s OK and even important to be empathetic to the underdog and to the suffering, but the fact remains there is a high percentage of folks (Trump) who file for bankruptcy protection because they can.
President Bush signed the bill, marking the most significant change to bankruptcy law in more than a quarter century.
For more details about S. 256 or for information about Bankruptcy Reform, visit www.bankruptcyfinder.com
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Community Comments