Bankruptcy Bill May Not Produce Payoffs Creditors were Seeking

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00022628-bankruptcy-bill-may-not-produce-payoffs-c/

The new bankruptcy law makes it harder for consumers to walk away from credit card debt and other loans they’re having trouble paying.

So that means credit card issuers, banks and other financial service companies, who lobbied hard for the law, will get back more of their money from future bankruptcies, right?

Yes, in some cases, but the reality is that in many others, lenders won’t be assured of recovering much more money than under the old law. Or they’ll have to wait longer to get it.

For this complete story, please visit Bankruptcy Bill May Not Produce Payoffs Creditors were Seeking.

Bankruptcy Bill May Not Produce Payoffs Creditors were Seeking

Unknown Author

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