A Break for Credit Card Customers in Bankruptcy?
In tomorrow's Washington Post, V. Dion Haynes reports on today's Senate Judiciary subcommittee hearing that "heard debate on a measure that would wipe out credit card debt for people in bankruptcy." According to the article, "the [proposed] bill would apply to companies that raise rates higher than 15 percent plus the current yield on the 30-year Treasury bond. That combined rate currently is 18.5 percent."
Dealing with bankruptcy is such a hard situation to overcome and it's good to know that bankruptcy filings decrease in September, but hold the applause. Brand new numbers from the American Bankruptcy Institute show that personal filings are down. Ten percent fewer Americans declared personal bankruptcy in September than they did last year. But professionals say this is probably not a symbol of a marked improvement in the economy. According to some, these statistics are declining due to several other factors.
Posted by: cheskaR | October 08, 2011 at 01:43 AM