Video: New Bankruptcy Law>>WOMAN WITH MEDICAL BILLS: With such high
medical bills I’ll never get back to square one when it comes to my finances. To be honest
with you, I’ve thought about bankruptcy. But from what I’ve read in the papers and seen
on TV it’s impossible to file nowadays. So I’ve given up on that idea and I’ve resigned
myself to the fact that I will be a hostage to these stinking bills.>>BANKRUPTCY ATTORNEY: The fact is that it’s
not impossible to file bankruptcy under the new laws. The credit card originating industry and banking
industry spent hundreds of millions of dollars lobbying congress to get bankruptcy legislation
passed that was intended to prevent folks filing bankruptcy and they spent even more
money trying to convey the impression that you could not qualify for bankruptcy. At the end of the day it turns out that only
five percent or less of folks who’ve applied to file bankruptcy under the new bankruptcy
laws have been disqualified. So is it impossible to file bankruptcy? Not
by any means.>>WOMAN WITH MEDICAL BILLS: So I guess I shouldn’t
believe I read in the papers or see on TV. For more bankruptcy information visit