Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
I would like to hear what people think of this bill.
Is this a good or bad legislation?
psci105.blog
This is the course weblog for my section of PSCI 105 (Critical Thinking About Politics) at Western Michigan University.
Saturday, March 19, 2005
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2 Comments:
I think the Bankruptcy Act is another way to screw over low and middle class people. Credit card companies pull all kinds of tricks to raise your interest rates. If your late 1-2 payments, your APR can go up 10%. They're constantly looking to screw over consumers, but then whine and cry when people file bankruptcy. They bring the bankruptcies upon themselves. It's not like huge credit card companies are losing money and going out of business. The few dollars they have to write off for bankruptcies is easily made up from all the interest they charge people. I get at least 1-2 credit card applications in the mail each week.
Also, the name "Consumer Protection Act" is a joke. It does the complete opposite.
Low and middle class people are not affected by this bill.
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