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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
 
reprehensor Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-28-05 01:11 PM
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Debt Slavery.org (bankruptcy bill site)
Debt Slavery.org

Stop the "Debt Slavery" Bankruptcy Bill in the House!

Any day now, your Representative in Congress will vote on a hugely important "Debt Slavery" Bankruptcy Bill (H.R. 685) 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.

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