Dodd Announces New Bankruptcy Reform Legislation
|December 3, 2007|
WASHINGTON, D.C. – Senator Chris Dodd (D-CT) plans to introduce bankruptcy reform legislation that will help put bankruptcy laws back on the side of hardworking Americans. Senator Dodd’s legislation will institute five critically important reforms that will establish a safety net for families who have fallen on hard times and offer those who file for bankruptcy a second chance at establishing financial security.
“Financial hardship can strike even the most diligent and hardworking Americans,” said Dodd. “Most often, individuals are forced into bankruptcy by a devastating medical event or the loss of a job. Our bankruptcy laws should not punish these vulnerable members of our society, but instead should help them get back on their feet while protecting them and their families from added suffering at the hands of creditors.” Senator Dodd’s bill will: