John Conyers: “The bill would give many creditors, including credit card companies, finance companies, auto lenders and others, greater…”

“The bill would give many creditors, including credit card companies, finance companies, auto lenders and others, greater claims to a debtor's limited resources than they have under current law. This would intensify the competition for scarce resources between children owed child support and sophisticated commercial creditors both during and after bankruptcy. Your letter characterizes as a ``myth'' the statement in the TIME Magazine article that: ``The proposed legislation would treat a bankrupt man's credit card debt the same as his obligation to pay child support.'' However, the effect of several provisions of the bill, taken together, would indeed have this result.”