There is a very good article in the Christian Science Monitor on what the results of the new bankruptcy law is going to be.
A few samples are:
"Make no mistake, the new bankruptcy bill will fall hardest on women," says Elizabeth Warren, a professor at Harvard Law School
Contrary to stereotypes, the majority of those who declare bankruptcy are not spendthrifts who abuse credit cards. Howard Ehrenberg, an attorney in Los Angeles who serves as a Chapter 7 bankruptcy trustee, sees more than 100 debtors a month who have filed for bankruptcy.
"They have not run up their bills with no intention of paying them," he says. "Most people file bankruptcy because one of three calamities has hit them - a serious illness to themselves or a person who makes the money in the household, the loss of a job, or a divorce."
Under current laws, noncustodial parents who file for bankruptcy cannot discharge their child support and alimony. Under the proposed new law, Miller says, they still can't discharge those debts, but there's a difference. Claims to back child support and alimony would be on equal footing with the claims of credit-card companies. In some cases, "mothers will be coming in after other creditors have received their payment," Miller says. "It's absolutely terrible."
There's lots more.
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