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If people aren't going to be able to afford the new minimum payments, THEY SHOULD CONSIDER FILING BANKRUPTCY NOW. I'm serious. I know it's a drastic step, but in some instances it is worth it.
The credit card companies have been trying to get this legislation passed for YEARS. They were working on it years ago when I was clerking for a bankruptcy judge, and they finally got it passed through the republican-controlled congress. I have never encountered a bankruptcy judge who thinks it's good legislation.
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A hiney bird is a bird that flies in perfectly executed, concentric circles until it eventually flies up its own behind and poof! disappears forever....
-Ken Harrelson
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