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News you can use - but not from Fox

Reported by Chrish - April 7, 2005

The weekly BlogCall arranged by Bob Fertik of Democrats.com and hosted on RadioLeft.com (Tuesdays, 12:00 and 6:00pm ET) this week featured David Swanson of debtslavery.org . David highlights the " hugely important "Debt Slavery" Bankruptcy Bill (S. 256) that could literally change your life." The Senate has passed it, and the House will vote on it next week. It must be defeated.

Selected quotes from debtslavery.org , to sum up the issue:

"Any day now, your Representative in Congress will vote on a hugely important "Debt Slavery" Bankruptcy Bill (S. 256) that could literally change your life.

The bill was written by credit card companies, which made $30 billion in profits in 2004 - but are blinded by greed.

The bill will change current law to prevent you from declaring bankruptcy under Chapter 7, which pays off your debts by liquidating your assets, giving you a fresh start financially. Instead, it would force you into Chapter 13 with a rigid 5-year repayment plan. You would no longer be able to protect your car and home, and you would have to pay greater legal fees.

Simply put, you would become a debt slave to the credit card companies.

When the Senate passed this bill, it rejected a dozen crucial changes to make the bill humane- such as exemptions for serious medical problems, exemptions for those in the military, an interest rate limit of 30%, protecting the homes of the elderly, and comparably strict treatment of those who are rich."

This is a heartless bill designed to benefit the credit card and loan companies. One medical emergency, one failed business venture, can ruin your family's future and any hope for a new start. (How's that for an entrepreneurship-killer?)

Please visit debtslavery.org for lots more information and links to write your Representatives.

You can listen to this and the previous BlogCalls at whiterosesociety.org .

Comment: I would like to hear a reconciling of the support for this legislation with the talked-about legislation that would create complusory indefinite life-support, which would bankrupt many especially those without insurance.

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