Stop the "Debt Slavery" Bankruptcy Bill in the House! PDA action alert

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http://elandslide.org/elandslide/index.cfm?campaign=debt


Any day now, your Representative in Congress will vote on a hugely important "Debt Slavery" Bankruptcy Bill (S. 256) that could literally change your life.

The bill was written by credit card companies, which made $30 billion in profits in 2004 - but are blinded by greed.

The bill will change current law to prevent you from declaring bankruptcy under Chapter 7, which pays off your debts by liquidating your assets, giving you a fresh start financially. Instead, it would force you into Chapter 13 with a rigid 5-year repayment plan. You would no longer be able to protect your car and home, and you would have to pay greater legal fees.

Simply put, you would become a debt slave to the credit card companies.

When the Senate passed this bill, it rejected a dozen crucial changes to make the bill humane - such as exemptions for serious medical problems, exemptions for those in the military, an interest rate limit of 30%, protecting the homes of the elderly, and comparably strict treatment of those who are rich.

Urge your Representative to vote NO on the Debt Slavery Bankruptcy Bill by clicking "Write Your Rep" on the left.

And help us create a grassroots firestorm to stop this outrageous bill by putting our Blogad (on the right) on your Web site with a link to http://debtslavery.org, and by making a contribution if you can.