Political Quotes

“I rise to support the Democratic substitute and in opposition to H.R. 833. I too am troubled by the increase in bankruptcy filings since 1980. I am very concerned about the rise in individual consumer debt, but I am disappointed that we are failing to bring legislation that is balanced between creditors and debtors. As drafted, many of the provisions of H.R. 833 are unfair to middle- and low-income debtors. At the same time, the bill fails to close loopholes that currently protect the wealthiest debtors. H.R. 833 focuses on the perceived abuse of the bankruptcy system by debtors without adequately addressing the abuses by creditors, and takes a rigid approach to a citizen's ability to discharge debt. A majority of people surveyed by Consumer Federation of America believe credit card companies share the blame with debtors for the rising tide of personal bankruptcies, yet nowhere in H.R. 833 is there mention of preventing or curbing credit card companies from targeting people with low incomes.”