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Critics say bankruptcy law flawed

By SHERYL JEAN

Knight Ridder Newspapers

ST. PAUL, Minn. - Ken Vierling worked hard to become top salesman at a local
printing company. He lived a good life and tucked away money for retirement.
Then came an ownership change that erased his job about 18 months ago.
Vierling ended up in a job that pays 25 percent less. He fell behind on his
bills. Collectors started calling, threatening to repossess his ...   more »

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Increase comes even though more stringent standards were adopted in October;
lenders watch closely.
June 12, 2006: 7:14 PM EDT


WASHINGTON (Reuters) - A new U.S. law to deter American consumers from
seeking bankruptcy protection made filings plunge to a 20-year low in the
first quarter of 2006, but a rapid rise in new cases since then raises
questions about whether the law is working as expected.
The 2005 bankruptcy reform law was pushed through Congress ...   more »

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What happens when the credit card industry writes congressional legislation?
According to the judges who have to enforce it, anarchy
By Brian J. Rogal

In December, Alfonso Sosa, a house painter in Fredericksburg, Texas, fell
behind on the payments for the mobile home he shared with his wife Melba.
The mortgage holder moved to foreclose, and Sosa filed an emergency petition
in federal court for bankruptcy protection. But the Sosa family quickly ran
afoul of the ...   more »