[atrocitor]

I never thought of it before some of the posters pointed out this biblical passage regarding the 7 years, but under the Bankruptcy Code prior to this reform, you could not file a Chapter 7 within 7 years of a prior filing. I wonder if this past law was based on the biblical passage.

[KurtAZ]

Naw, forget having to file, we should just make it compulsory for the creditor to clear their books every 7 years. :)

I am kidding of course...I understand the repercussions of wiping out the banking industry...but there are some times that good people have to declare BK. Loss of job comes to mind. Insane Medical bills, some other ones I guess. But from what I understand this legislation takes those into account and actually makes people (collective gasp here) RESPONSIBLE for their own spending habits.

[Robert_Paulson2]

yes