New Bankruptcy Law – Where’s the Consumer Protection?

Written by Charles Essmeier


On April 20, 2005, President Bush signed into lawrepparttar Bankruptcy Abuse and Consumer Protection Act, a piece of sweeping legislation that brought aboutrepparttar 141203 most sweeping changes in personal bankruptcy law inrepparttar 141204 last quarter century. This bill, which takes effect in October 2005, passed withrepparttar 141205 overwhelming support of both parties of congress, claims, through its very name, to offer “consumer protection.” Does it? How are consumers “protected” by this bill?

The purpose ofrepparttar 141206 new legislation, is to eliminate “bankruptcy of convenience”. Sponsors ofrepparttar 141207 bill allege that most consumer bankruptcy cases involve irresponsible spenders who have shopped or gambled their money away and now do not wish to pay their creditors. They rightly point out that bankruptcy costsrepparttar 141208 credit card companies billions of dollars each year and that those costs are passed on to consumers inrepparttar 141209 form of higher interest rates. By making it harder for those with problem debt to file for bankruptcy, legislators say that more people will pay their bills,repparttar 141210 credit card companies will save billions of dollars, andrepparttar 141211 resulting savings will be passed on to consumers inrepparttar 141212 form of lower interest rates.

The bill is lengthy, but key points are as follows:

  • Those considering bankruptcy will have to pass a “means test.” If their income is above a certain

    • How to Save Money at Christmas

    Written by John Mussi


    Do you know how to save money at Christmas and still have fun? Sounds impossible but it can be done.

    Everyone assumes that in order to enjoyrepparttar festive season one has to throw money at it when in factrepparttar 141162 opposite can be true.

    Research has shown that most people's fondest and most lasting memories ofrepparttar 141163 festive season revolve aroundrepparttar 141164 smells and sounds of Christmas and notrepparttar 141165 expensive gifts that they had received.

    Do not get carried away and be miserly but just use some common sense and you will be surprised at how much you can save and still have a good time.

    Here are some useful money saving tips on how to enjoy Christmas without spending a fortune:

    Presents:

    Why buy an expensive present for a child when all they will play with isrepparttar 141166 cardboard box that it came in?

    An alternative could be to buy a board game thatrepparttar 141167 entire family can enjoy rather than lots of individual gifts which will quickly be ignored. The other advantage of a board game is that it can be played throughoutrepparttar 141168 child's early years thereby savingrepparttar 141169 need to buy even more toys in future. It is better to choose a tried and tested board game rather thanrepparttar 141170 latest trendy one as they are more likely to retain their appeal.

    If you cannot afford to buy board games, look to play party games. Go to your local library and take out a book on party games, write down some of your favourite games and play those. A simple mime game can keeprepparttar 141171 children entertained for hours.

    Crackers:

    Why buy a box of expensive crackers when you can have just as much fun with a box costing a lot less? The contents are basicallyrepparttar 141172 same so why spend more?

    Christmas tree:

    Why buy a fresh tree which will cost more and haverepparttar 141173 inherent problem of how to clear uprepparttar 141174 fallen needles when you can buy a plastic tree for much less? Apart from not having to worry aboutrepparttar 141175 clearing up of needlesrepparttar 141176 plastic tree hasrepparttar 141177 added benefit of being re-useable making it a very economical proposition.

    Cont'd on page 2 ==>
     
    ImproveHomeLife.com © 2005
    Terms of Use