Bankruptcy Law

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Infobase Publishing, Jan 1, 2009 - Juvenile Nonfiction - 99 pages
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More than 1 million U.S. households declared bankruptcy in 2004. Alarmed by rising defaults, the nation's lenders and political leaders alike set out to reform laws that clear away debt. To some, reforming these laws will put a lid on irresponsible consumer spending sprees. But some consumer advocates argue that banks and credit card issuers have only themselves to blame for marketing and supplying ill-advised loans. Is this political action timely consumer protection or an unwarranted corporate bailout? Bankruptcy Law covers these issues and more, examining each from different perspectives.
 

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Contents

Foreword
6
Introduction
10
Recent Reforms Help Prevent Abuse of Bankruptcy Laws
27
Recent Reforms Delay the Debtors Fresh Start
32
Mandatory Credit Counseling Benefits Consumers and Lenders
41
Consumer Credit Counseling Is Counterproductive and Subject to Fraud
49
Bankruptcy Laws Allow People to Rebuild Their Finances Responsibly
57
Bankruptcy Reforms Do Not Solve the Real Problem for Millions of Americans
62
Appendix
82
Elements of the Argument
85
Notes
88
Resources
92
Picture Credits
94
Index
95
Contributors
99
Copyright

Conclusion
73

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