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Filing for bankruptcy could be easier and less expensive

By Hicbd
Wed Apr 21 2021 8:54 am

"The credit card industry lobbied Congress aggressively, and a 2005 law made it harder and more expensive to file for personal bankruptcy...And what the industry clearly wanted was people stuck in a lucrative cycle of minimum payments, late fees, and interest hikes. What they didn't want spoiling that was people cutting the cycle short through bankruptcy."

URL:
https://theweek.com/speedreads/978104/john-oliver-explains-personal-bankruptcy-how-credit-card-lobbyists-lawyers-make-much-worse
https://www.propublica.org/article/when-you-cannot-afford-to-go-bankrupt

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Categories:
U.S. Poverty U.S. Consumer Financial Protection Bureau U.S. Personal Debt Bankruptcy Courts

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