Good. It shouldn't be easy to walk away from one's obligations.
Banks should also be held responsible for handing out depositors and shareholders funds to people with spotty credit.
Tighten up credit requirements and bankruptcies would decline, too.
The collection agancies will celebrate this and so will the banks who assess huge $$$$$$$$$ in late fees and usury interest rates against people who should not have been granted credit in the first place.
Maybe we should open up debtors prisons, too.
I agree, but along with it they should crack down on agressive marketing by credit card companies.
Right on! Unless you're rich. Or a bank. Or a corporation.
"Good. It shouldn't be easy to walk away from one's obligations."
Then you won't mind if they pass strict legislation against businesses who file, and just about every large corporation out there has filed.
Great.... So, taxpayers once again subsidize private banks bad lending practices... You give a guy with no income a 25% interest rate credit card with a 5,000 limit... its your own damn fault when they default. Stop expecting the legal system and taxpayers to subsidize your stupidity.