Increase protection for home in bankruptcy [View All]

[JDPriestly]

Any California bankruptcy attorneys out there? I may be wrong, but I believe that California law will not protect bankrupt Californians from losing their homes if the new bankruptcy laws are passed.

I think the proposed bankruptcy law allows states to decide to what extent the home of a person filing for bankruptcy will be shielded from creditors. And, I believe that California law does not provide much protection at all.

We California Democrats can do something about this on a state level. Greedy banks should not be able to take people's primary residences. Other states give their citizens much better protection on this I believe.

This is an issue that will divide the Democrats from the Republicans. As on Social Security, it hits people in their wallets. No one wants to lose their home in case of huge medical expenses or unemployment. Democrats should win big on this one. Let's see where Schwarzenegger comes out on it. He certainly won't be on the side of the little guys. Let's write our state senators and assemblypeople on this issue.