Craig D. Robins, ESQ - Experienced Bankruptcy Attorney

FREE CONSULTATION

(516) 496-0800

Craig D. Robins, ESQ - Experienced Bankruptcy Attorney
Stop Creditor Harassment

CREDITOR HARASSMENT

CREDITOR ACTION

Craig D. Robins, ESQ - Experienced Bankruptcy Attorney

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Reorganization

Foreclosure Defense

Debt Negotiation

Should I File Bankruptcy?

Why Choose Craig D. Robins, Esq.?

Bankruptcy Secrets

Bankruptcy Overview

Representing Yourself

The New Bankruptcy Laws

Credit After Bankruptcy

Long Island Bankruptcy Blog

Client Login

Debt Problems and the Elderly

Bankruptcy
and the Elderly

Debt Problems and the Elderly

CONVENIENT OFFICE LOCATIONS

MELVILLE» MAIN OFFICE
35 Pinelawn Road, Suite 218E
Melville, New York 11747
Directions

COMMACK
353 Veterans Mem. Hwy. (Suite 210)
Commack, New York 11725
Directions

PATCHOGUE
42 Academy St.
Patchogue, New York 11772
Directions

VALLEY STREAM
30 South Central Ave.
Valley Stream, New York 11580
Directions

CORAM
479 Middle Country Rd.
Coram, New York 11727
Directions

WEST BABYLON
112 Route 109
West Babylon, New York 11704
Directions

MASTIC
1120 Montauk Hwy.
Mastic, New York 11950
Directions

Special Note for Attorneys

A Note for
Attorneys

Special Note for Attorneys
A Proud Member of National Association of Consumer Bankruptcy AttorneysAmerican Bankruptcy Institute

HOME

ATTORNEY PROFILE

PRACTICE AREAS

FIRM OVERVIEW

Bankruptcy is What We Do and We Do It Well Free ConsultationContact UsPublished ArticlesIn The News

Is Bankruptcy As We Know It Almost Dead?

The Attorney of Nassau County, January 2005
Written by Craig D. Robins, Esq.

For the last six years, there have been vigorous efforts to drastically alter the Bankruptcy Code to make it more difficult for consumers to discharge their debts. Up until now, these efforts have not succeeded. There wasn’t even much legislative activity regarding bankruptcy last year. That is, until November 2, 2004. Election Day. On that day, this Country re-elected George W. Bush.

During President Bush’s first four years of office, he made it abundantly clear that he would sign any bankruptcy overhaul legislation that was placed on his desk. One can assume that he wouldn’t even bother to read a bankruptcy reform bill before signing it into law.

However, Mr. Bush did not make any mention during his numerous campaign speeches of his proclivity to sign a new, much tougher bankruptcy statute. Why? The notion of bankruptcy reform would not sit well with many of his supporting constituents. The hard-working, middle-class, middle-aged, middle-Americans who are struggling from lay-offs or exorbitant health care costs would not find Mr. Bush’s position on bankruptcy reform too appealing. Ironically, large numbers of Americans who will eventually need bankruptcy protection actually voted for Mr. Bush, unaware that in his next four years of office he will likely sign into law a much stricter Bankruptcy Code that may prevent them from being able to discharge their debts and easily get a fresh new financial start.

To make matters worse, the Senate Democrats lost five seats including that of Senate party leader Tom Daschle. One of the reasons that bankruptcy legislation was not previously enacted was because of the relative balance of Republicans and Democrats in the Senate. Although bankruptcy reform does share some bipartisan support, it is overwhelmingly supported by Republicans, big business, and the banking and credit card industries. It will now be easier for the Republican-majority of legislators to pass a bankruptcy reform bill.

For years, the banking industry has pumped tens of millions of dollars into lobbying and election efforts, seeking to persuade legislators to enact new bankruptcy reform. Lobbyists for these groups have been toasting the success of Mr. Bush’s re-election and the election of Republican congressional candidates. Now they plan to collect on that investment.

According to recent news reports, the consensus in Washington is that the bankruptcy reform legislation will be re-introduced in Congress soon where the bill is expected to move quickly through the House, barring other legislative issues taking priority, most likely before April. Then the fight will shift to the Senate. However, according to Senate rules, the majority cannot force issues as easily or as quickly, as 50 votes are needed to break a filibuster. Sources suggest that there is a 60/40 chance that bankruptcy reform will be eventually signed by the President and become law this session.

Therefore, expect to see a new round of proposed bankruptcy reform legislation in the very near future. Expect a high possibility that this legislation may be quickly signed into law by our President. And then expect to see a number of down-and-out financially-troubled middle-Americans wondering why they can’t get a fresh new financial start.

 

Editor’s Note: (revised 2008):
Craig D. Robins, Esq., a regular columnist, is a bankruptcy attorney who has represented thousands of consumer and business clients during the past twenty years. He has offices in Medford, Commack, Woodbury and Valley Stream. (516) 496-0800. He can be reached at CraigR@CraigRobinsLaw.com. Please visit his Bankruptcy Website: CraigRobinsLaw.com.

 

Home       Craig D. Robins, Esq.       Contact Us       Our Firm       Disclaimer       Site Map

For over Twenty Years, we have proudly been a Debt Relief Agency under the
United States Bankruptcy Code. We help people file for bankruptcy relief.

Copyright © Craig D. Robins - Craig D. Robins is a Melville, Long Island bankruptcy attorney and lawyer whose New York bankruptcy law firm is dedicated solely to bankruptcy law and debt solutions. We represent clients from towns such as Huntington, Smithtown, Babylon, Islip, Hempstead, Brookhaven, North Hempstead, and Riverhead; and areas including Amityville, Bethpage, Brentwood, Centereach, East Meadow, Hicksville, Holbrook, Levittown, Mineola, Patchogue, Shirley, Westbury, Medford, Coram, Commack, Bayshore, Yaphank, Valley Stream, Bohemia, Wantagh, Roosevelt, Freeport, Deer Park, Floral Park, Franklin Square, Bellmore, Mineola, Elmont, Laurelton, Queens Village, and others on Long Island and Queens. Some of the material herein constitutes attorney advertising.