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Article: Congress passes bankruptcy restrictions; Measure would require some to pay credit card charges, medical bills and other obligations
- Article from:
- Telegraph - Herald (Dubuque)
- Article date:
- April 15, 2005
- Author:
CopyrightCopyright 2005 Telegraph - Herald (Dubuque). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON (AP) - Tens of thousands of people who want to wipe out
their debts in bankruptcy court would have to work out repayment
plans instead under legislation Congress approved Thursday.
A 302-126 vote by the House sent the legislation to President
Bush, who is eager to sign it, the biggest rewrite of the bankruptcy
code in a quarter-century. It marks the second major change in law to
benefit business since Republicans increased their House and Senate
majorities in last fall's elections.
Debate in the House was acrimonious as Democratic opponents warned
that the measure would hurt the economically vulnerable.
After eight years of strenuous efforts by congressional backers,
banks and ...