With this bunch in Washington controlling things

[secondtimer]

I'm suprised there hasn't been any rumors of changing BK law due to all that is going on.

I'll bet they are threatening banks behind closed doors to revamp the BK code if they don't comply with all the "programs".

Seems to me that a fresh start is just what most Americans need right now. I guess the banks need to keep everyone on the hook so they can repay TARP etc.etc.

[keepmine]

I doubt there will be any changes.
They did try and change the law where, bk judges could cramdown the value of a mortgage on a home to a fair mkt value in a Chapter 13 but, that failed.

[banca rotta]

There's no need to change anything.

With the real unemployment rates combined with the growing working poor, the means test will be irrelevant.

Also in the next 3 to 5 years (maybe sooner, maybe later) bk will be a thing of the past.

Your current debts of today will be so small with the coming currency devaluation no one will need to file for bk. You will however need to grow your own food.

The US debt is approaching 13 trillion and will be 14 trillion by Christmas. Add on all the unfunded mandates which is 10 times the debt.

Only a govt default or hyperinflation will "solve" this problem so individual bk's won't even be an issue.