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THE CONSUMER BANKRUPTCY LETTER |
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In This Issue:
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February 21 2005
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TAX DISCHARGE IN BOSTON!
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From BankruptcyBooks.com
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FEATURED SITE #9 FREE CREDIT REPORT IN SECONDS
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HEADS-UP ON RECENT CASES
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LAW PROFESSORS OPPOSE BK REFORM
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AnnualCreditReport.com
Act act of Congress now requires all of the major credit reporting agencies to make available to all consumers, free of charge, one credit report annually. The availability of the reports is being phased in according to the following schedule:
Western states . . . Dec. 1, 2004
Midwest . . . . . . . March 1, 2005
South . . . . . . . . June 1, 2005
East . . . . . . . . . Sept. 1, 2005
Now, the bankruptcy lawyer can download the client's credit report online in seconds, and print it out (unless the client has already used up his/her free report for the year). Nothing can beat that for convenience.
When you type in annualcreditreport.com, which is the domain provided by the Act, you may get the following message instead:
“For security purposes, www.AnnualCreditReport.com can be accessed by typing the web address "www.annualcreditreport.com", or from links from the Federal Trade Commission (www.ftc.gov), Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com) websites.
AnnualCreditReport.com is the only web source authorized by all three nationwide consumer credit reporting companies from which free annual credit file disclosures can be requested.”
If you get that message, just place your cursor back in the address box and press ENTER again. That should take you right to the web site. In the alternative, click on the red, below:
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STATUS OF S. 256
2/1/2005 Introduced/originated in Senate
2/17/2005 Committee on the Judiciary. Reported by Senator Hatch for Senator Specter with amendments. Without written report.
2/17/2005 Placed on Senate Legislative Calendar under General Orders. Calendar No. 14.
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90 LAW PROFESSORS SEND LETTER OPPOSING BK REFORM LEGISLATION
In a letter to Sen. Arlen Specter, Chairman of the Senate Judiciary Committee, 90 law professors from around the country wrote a detailed letter setting forth their disagreements with, and opposition to, S. 256, the Bankruptcy Reform Act. Among other things they said:
“The fastest growing group of bankruptcy filers is older Americans. While individuals over 55 make up only about 15% of the people filing for bankruptcy, they are the fastest growing age group in bankruptcy. More than 50% of those 65 and older are driven to bankruptcy by medical debts they cannot pay. Eighty-five percent of those over 60 cite either medical or job problems as the reason for bankruptcy. 12 Here again, abuse is not the issue. The bankruptcy filing rate reveals holes in the Medicare and Social Security systems, as seniors and aging members of the baby-boom generation declare bankruptcy to deal with prescription drug bills, co-pays, medical supplies, long-term care, and job loss.”
SOURCE: NACBA web site
TO READ THE ENTIRE LETTER CLICK BELOW
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PUBLISHED BY KING BANKRUPTCY MEDIA FOR BANKRUPTCY PROFESSIONALS 7080 Donlon Way Suite 222 Dublin California 94568 (925) 829-6460. Morgan D. King, Editor.
© King Bankruptcy Media 2004 CONTACT US AT editor@bankruptcymedia.com
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