Forum Post: Let's repeal BAPCPA
Posted 13 years ago on Oct. 9, 2011, 8:21 a.m. EST by kendroe
(9)
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Check out the Wikipedia article on the Bankruptcy abuse and prevention act here:
http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act_%28US%29
The banks used this act to raise credit card fees and interest rates. We should add repeal of this act to the list of demands.
Petition to Repeal BAPCPA 2005 here -> http://wh.gov/0hx
The 2005 Bankruptcy Abuse Prevention & Consumer Protection Act was an injustice done TO the People of the United States BY the US Congress FOR the Banking Industry.
In 2005 Bank Lobbyists convinced Congress to enact draconian and ARBITRARY rules limiting the ability of US consumers to protect ourselves from our creditors, thereby CREATING widespread defaults, foreclosures & repossessions in 2008-(?) - DELAYING economic recovery of affected consumers, their families and our nation.
The 2005 rules make it very difficult for middle-class families to file for bankruptcy - resulting in many still struggling to make-ends-meet even 4 years after real-estate collapse & subsequent layoffs.