House set to approve bill overhauling bankruptcy laws
CAPITOL HILL The biggest overhaul of the bankruptcy laws in a-quarter century is about to win final congressional approval. The House is set to pass a bill that would make it much harder to wipe out debts by filing for bankruptcy.
The bill would require people with incomes above a certain level to pay credit-card charges, medical bills and other obligations under a court-ordered bankruptcy plan.
Opponents say the change would fall especially hard on low-income working people, single mothers, minorities and the elderly. They warn it would remove a safety net for those who have lost their jobs or face crushing medical bills.
The bill the Senate passed last month is a top priority for the administration.
Passage would end an eight-year push for the measure by the credit-card and banking industries.
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