Atlanta Bankruptcy Attorney Warns of Unfair New Bankruptcy Law
AlthoughGeorgia bankruptcy law has remained virtually unchanged over the past ten years, the new bankruptcy law recently passed by U.S. Congress and signed into law by President Bush has many metro Atlanta bankruptcy attorneys concerned.
Since 2001, pro-creditor interests in Congress have been trying to enact a drastic change in the nation’s bankruptcy laws. According to Atlanta bankruptcy attorney Jonathan Ginsberg, the stated purpose of this new bankruptcy law is to discourage bankruptcy filings and to make some categories of debts not dischargeable at all.
Lobbyists paid for by the credit card companies and banking interests spent over $20 million in 2004 and 2005 to influence lawmakers to pass a new bankruptcy law. This lobbying takes the form of campaign contributions as well as the publication of “bankruptcy abuse” stories and statistics.
Because bankruptcy law is federal, Georgia bankruptcy law practice has changed as of October 17, 2005, the effective date of the new law.
Atlanta bankruptcy attorney Jonathan Ginsberg has reviewed the entire text of this proposed new bankruptcy law and he reports that it has the potential to be unfair and punitive in nature. The underlying premise of this bill is that citizens looking to file bankruptcy are dishonest and lazy. The proposed law gives creditors, especially credit card companies, more grounds to challenge a bankruptcy and in some situations, puts credit card debt on an equal footing as child support.
