The Des Moines Register has a big piece today on the bankruptcy reform bill that Senator Chuck Grassley has been pushing. Naturally, the Register profiles a guy with a chronic disease who had trouble paying his medical bills and had to file for bankruptcy.
Missing from the entire article is the word gambling and the influence it has had on Iowa's bankruptcy rates. Instead, the Register focuses on medical bills and credit card abuse.
This blog regularly mentions those who have been granted Chapter 7 yet have assets which exceed their debts. (See here and here and here and here for more on the bankruptcy bill) It's obscene that these people get their debts charged off without facing any significant hardship. They are the ones who should be filing Chapter 13 instead. It doesn't help that judges sign off on this.
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