Pete Sessions: “I see Senator Feinstein is here. I will be glad to conclude. Fundamentally, this bill is not unfair. I would be willing…”

“I see Senator Feinstein is here. I will be glad to conclude. Fundamentally, this bill is not unfair. I would be willing to look at any particular part of it. It has been pounded on for 4 years now. Every jot and tittle of it has been looked at. We have tried to make sure it is fair in every way. But we do say you ought to seek credit counseling. Maybe there is an alternative to bankruptcy. We say, if you make above the median income, you can pay back some of your debts. But if your debts are so big, even if you make above median income, you do not have to pay them; you can wipe them out, and that is OK. And remember the great protection of bankruptcy for people in debt is they cannot be subject to harassing phone calls and letters, demands for payment and lawsuits. When you file bankruptcy, all lawsuits and demands for payment have to stop, whether you are in chapter 7 or chapter 13. A family can put their lives in order under the bankruptcy laws now and in this new bill in the same way that will allow them to have some stability in their lives, to bring a conclusion to their credit difficulties, to not be fighting lawsuits and credit demands that disrupt their lives. I thank the Chair and yield the floor. Mrs. FEINSTEIN addressed the Chair. The PRESIDING OFFICER. The Senator from California. Amendment No. 27, As Modified”