Reply #21: Yeah, unfortunately... [View All]

[punpirate]

... I think that's it--lambs to the slaughter. One of the important aspects of the new law is that the debtor gets only a limited time for relief from debt during the filing period, and once a case is pushed into Ch. 13 and the grace period expires, the creditors start their demands again. Since the fees and interest rates aren't capped, the debtor gets into the system, and his debt keeps going up at the tail end of the system.

One of the side effects of all this is more manifestation of civil strife--an increase in crime, more people trying to torch their houses for the insurance, more people driving without car insurance, etc.

Safe to say that things ain't getting better with this legislation.