Debbie Stabenow Response

I wrote a letter to Debbie Stabenow: asking why did she sign the Bankruptcy Reform bill. This is her response back to me.

April 11, 2005
TO:Mr. Pedro L Soto
Kalamazoo, MI 49048

Thank you . . .. . for contacting me regarding your opposition to the Bankruptcy Reform bill currently being considered in Congress. I appreciate you taking the time to make me aware of your concerns.

We know that there are problems with existing bankruptcy laws. Any effort at bankruptcy reform must strike a balance between consumer protections and personal responsibility. I believe the Senate bill strikes that balance and introduces personal responsibility into the bankruptcy process in a fair and common-sense way.

The bill allows individuals to continue to avail themselves of bankruptcy should the need arise, but in a way that is appropriate to their financial situation. Those who truly are unable to pay their debt because they have no disposable assets would be able to enter Chapter 7 bankruptcy just as they can today. Additionally, the bill safeguards and protects our most valuable assets from creditors during bankruptcy: our homes, automobiles, food, clothing, and insurance. The bill also protects assets used to pay for support of elderly parents, sending children to school, and paying the heating bill.

The Senate passed this bill by a vote of 75-24 on March 10, 2005. As the bill moves through the House of Representatives for their consideration, I will be monitoring the process closely to ensure that this balance is maintained in the final legislation. Thank you for taking the time to contact me. Please feel free to do so again whenever I can be of assistance to you and your family.

Sincerely,
Debbie Stabenow
United States Senator