A pic of people in line to file for bankruptcy before deadline. . .sad

[wndycty]

A long line of people wait to file for bankruptcy outside the United States Bankruptcy Court in downtown Denver, on Friday, Oct. 14, 2005. People were filing bankruptcy petitions on Friday to beat the start of a new federal law that sets stricter standards for seeking protection from creditors. (AP Photo/David Zalubowski)

http://news.yahoo.com/news?tmpl=story&u=/051014/480/codz10210142145

[helderheid]

1. What has happened to this country????

It is so very sad. One more thing that makes me shake my head.

[tjdee]

2. I wish I could be one of them...sigh. But that is pretty sad.

(I don't have enough debt apparently to make bankruptcy worthwhile.)

But it is pretty sad that a line like that forms for something like this. Just goes to show that Congress really has its thumb on the pulse of the people! :eyes:

[GreenPartyVoter]

18. and they're cutting off the blood supply

[wndycty]

3. And its a multicultural group, I bet they are nonpartisan as well. . .

. . .which means some people may have some questions to answer in 2006.

[salin]

4. wonder how many in these lines

connect this to the GOP in the WH and Congress? Or how many simply chalk it up to "bad fortune" (ala sh*t happens)?

[Deja Q]

9. Exactly.

Those who still support * now will NEVER be able to piece these things together, despite how sadly obvious many of them are.

[DearAbby]

5. Local News here said the line at times Yesterday was 5 hours

long, that the clerks came out and processed some on the steps of the courthouse by evening. It is sad...

[Historic NY]

6. A good portion are likely medical debts...........

that have piled up. Some people try to do the right thing and pay them off but now our government is making them debtors w/o recourse.

[nvliberal]

7. Expect a lot more chargeoffs

when people just simply don't bother paying their credit card bills and such anymore and collection efforts finally become futile for the creditors.

[Occulus]

12. I pray for that day.

The credit industry needs to die out. It needs to go. I am MORE than willing to stop all payments in order to help that happen.

We need a different system; necessity is the mother of invention. Kill the credit industry and force a change simply because a change will then have to be made.

[nvliberal]

15. What we need is to bring back the usury laws and

reregulate the credit card industry back to the way it was before the early 1980s.

Garnishment laws should also be repealed for anything other than child support and back taxes.

Uniform exemptions instead of the "opt out" scheme, which allowed some states to have generous exemptions while other states had very strict exemptions, should be in place.

Had Congress done these things, bankruptcies would be far more rare in this country.

What Congress did was take a sledgehammer to the bankruptcy code when fine tuning was all that was needed.

[Opusnone]

8. Don't feel sad for them

Did you feel sad for Donald Trump the several times he filed for bankruptcy protection?
Neither did I.
Bankruptcy can be very a liberating experience. It should be viewed for what it is. A fresh start.

[nvliberal]

10. It is a fresh start, or was,

but it's very sad that Congress and the White House have declared war on the American people.

[Deja Q]

11. Except Trump ends up unscathed. You or I would be suffering for YEARS.

Trump is a bigwig in "society". He can bankrupt and start again. And he's done so TWICE.

I'm sure many people think that the laws will keep creatures like trump from doing the Big-B again. Don't count on it.

[nvliberal]

14. The thing is people like Trump aren't subjected

to filing for Chapter 13 in the first place; people like him file for Chapter 11 if they want to "reorganize" their debts.

[Greyhound]

13. That's why I filed mine. If they hadn't made these draconian changes

I would have stuck it out and made it work, but the new restrictions and CC regs put me over the top (or was it under the bottom?)

[Opusnone]

16. Our own party voted for the changes!

Harry Reid said something to the effect that he was "old fashioned" because he thought a man should pay his bills. Hey, Senator! THIS COUNTRY WAS BUILT ON DEBT, LOANS, and RISK!

Nelson, Carper and Johnson and Biden (all D's) voted for it.

The banks and CC company lobbyists wrote the legislation.

Congratulations to all who filed!

Viva Revolution!

[stepnw1f]

19. People Within Our Own Party

Don't make the mistake of saying Our Own Party. Tooo general.

[Greyhound]

20. No. To say the democratic party wasn't a part of this is

disingenuous at best. They were the party in power when the groundwork was laid for this shearing of the sheeple. They are absolutely complicit.

[nvliberal]

21. Not everybody was.

But face it, the Republicans had the votes, and those Democrats who voted for this piece of shit legislation are in the back pockets of the banking industry.

They think they are actually helping people in their own states which have the banking industry as a major part of those states' economy (at least those states which have headquarters for the banking and credit card industries, such as South Dakota and Delaware), but they are actually screwing over people with this idiotic law.

This law is a stark example of what has happened to Congress over the years, which has shifted from representing people to representing lobbyists.

Remember, the banking industry lobbyists wrote this piece of shit law.

[Greyhound]

24. Not all the nazis killed jews homosexuals gypsies either

so they should get a pass? Plus, you overlooked the fact that the groundwork for this travesty was laid under a democratic administration.

[Opusnone]

22. Well said

Our party. This is DEMOCRATIC Underground, right?

[stepnw1f]

23. Did I say That?

Nope. I said he was being too general. Was I wrong? Then you fly off the handle "How dare you not say Dems were not a part of this".

Come on now.

[OneGrassRoot]

26. ditto..........

it was the doubling of credit card payments that pushed me over the edge...I would have continued to struggle otherwise, without filing bankruptcy. As it is, I filed Chapter 7....go to court 10/31.

Joy, joy...........:sarcasm:

[Greyhound]

27. Due to the huge backlog, I haven't got a court date yet. n/t

[Neil Lisst]

17. The Bush legacy ... the rich get richer, everyone else loses.

May this be one part of his legacy.

He's a bigger disaster than all the hurricanes combined.



http://www.webcomicsnation.com/neillisst/

[Greyhound]

25. The rich get richer, the poor get children. n/t