Obama Wants To Reform Bankruptcy

Posted by misspolitician

July 8, 2008

Barack Obama will propose changing U.S. bankruptcy laws today (Tuesday) so that Americans who can prove that their bankruptcies resulted from high medical costs or military expenses could get some relief from their debts. Obama is set to deliver the prepared remarks for a town hall in Powder Springs, Georgia today.

“I’ll reform our bankruptcy laws to give Americans who find themselves trapped in debt a second chance. While Americans should pay what they owe and we should be fair to those creditors who were fair to their borrowers, we also have to do more for the struggling families who need help most.”

Sounds reasonable but stay tuned for more . . .