(WELCOME TO BUSH'S AMERICA!!) Change in Law Spurs Bankruptcy Filings

[Montauk6]

File bankruptcy now — before the law changes! That's the message — or exhortation — that attorneys are making across the country, in TV commercials, print ads and mailings, urging Americans to seek bankruptcy court protection before a new law makes it harder for them to walk away from their debts.

Debtors are responding. Counting down toward the Oct. 17 effective date for the biggest reform in U.S. bankruptcy law in a generation, personal bankruptcy filings have jumped this month to the highest on record. Filings averaged more than 9,000 per day, up roughly 50 percent from last year's average daily volume, during the first two weeks of September.

The number is expected to keep climbing, reflecting a growing sense of urgency as the deadline nears.

Attorney Melvin James Kaplan, who runs a consumer bankruptcy practice in Chicago, hasn't seen a rush this big in his 48 years in the business. The volume of calls to his office has been increasing all month and tripled in the past week.

"It's just getting insane," Kaplan said. "The information has been out there for months. I guess people are just waiting till the last minute."

http://news.yahoo.com/s/ap/20050923/ap_on_bi_ge/bankruptcy_changes

[MrSlayer]

1. Of course this was going to happen.

Fortunately I only have 10 grand in CC bills and won't have to resort to this. This new law is going to be horrible for a lot of people.

[sarcasmo]

2. It's only going to get worse in the next two weeks.

The courts are already backed up imagine what this is doing.

[bluestateguy]

3. One last FUCK YOU to the credit card companies

n/t

[fortyfeetunder]

4. Shouldn't there be a moratorium after the last few weeks?

Considering in the last few weeks, we've had two major hurricanes affect most Americans (gas prices, people being displaced, etc.), not to mention the problems in FL last year why can't this law be postponed?

Or is this asking too much from *'s "base"...