[BobL]

It is a good law. But it was only needed because lenders WILL ALWAYS lend money to deadbeats. It defies logic...but that is life.

[First_Salute]

A terrible law that protects crony-capitalists and banksters and may as well have been called TARP I.

[MeneMeneTekelUpharsin]

How is this going to impact folks now? People should cut costs and pay their debts. So should the government.

[Gil4]

Should have applied to GM as well.

[FReepaholic]

This was passed right in the midst of the real estate boom and I wondered at the time why they were doing it. Everything was going well, the economy was booming.

They knew it was going to blow so they were protecting the banksters.

[Unknowing]

This BAPCPA law is a damned lousy pro-bankster crock of rotten disadvantages. It puts honest debtors seeking relief on a bell curve of earnings, and if their income is above average then they are forced into onerous Chapter 13 plans. Sixty percent of Chapter 13 plans fail, as if by design.

That being said, at least a third of all debtors suffer from consumer derangement syndrome, and they have unreasonable expectations about shedding liability for debts they willingly and knowingly accrued.