Bob Menendez: “Mr. Chairman, our bankruptcy system should be a safety net for those…”

On the recordMay 5, 1999

Mr. Chairman, our bankruptcy system should be a safety net for those in need, not a financial planning tool for the well-to-do. It is not fair for the large majority of working men and women who pay their bills and play by the rules to continue footing the bill and paying the price for those who abuse the bankruptcy system. It is just not right. This bill makes sure that those who truly need the safety net of bankruptcy get it, like those who lose their job or have a medical emergency or a sick child. This bill protects those people, but it also makes sure that those higher income people, who can still repay some of their bills, do so. In my view, that is just basic personal responsibility.

Said by

Bob Menendez

Democratic · New Jersey

Source

govinfo.gov

Editor's note · Context

Discussing the importance of bankruptcy reform during a House committee meeting.

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Bob Menendez: “Mr. Chairman, our bankruptcy system should be a safety net for those in need, not a financial planning tool for the…”

Editor's note · Context