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 April 26, 2005
House set to approve bill overhauling bankruptcy laws
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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.

Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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