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"his party come down like a ton of bricks on the average working stiff. "

It's just a tad harder to decalre bankruptcy now .. how is that 'coming down like a ton of bricks'... if you really can't pay, you still have bankruptcy ... it's just more rigorous in defining ability to pay:

"In a Chapter 7 bankruptcy, your assets (minus those exempted by your state) are liquidated and given to creditors, and many of your remaining debts are cancelled, giving you what's known as a "fresh start." In 2004, over 1.1 million people filed for Chapter 7, accounting for roughly 72 percent of non-business bankruptcies.

Since many Chapter 7 filers don't have assets that qualify for liquidation, credit card companies and other creditors sometimes get nothing.

In a Chapter 13 bankruptcy, you're put on a repayment plan of up to five years. Any debts not addressed by the repayment plan don't have to be paid. Last year, there were 445,574 Chapter 13 filings.

After the bill becomes law, fewer people will be allowed to file under Chapter 7; more will be forced to file under Chapter 13.

Lawmakers who favor the legislation argue that it would prevent consumers from abusing the bankruptcy laws – using them to clear debts that they can afford to pay. "

In a Chapter 7 bankruptcy, your assets (minus those exempted by your state) are liquidated and given to creditors, and many of your remaining debts are cancelled, giving you what's known as a "fresh start." In 2004, over 1.1 million people filed for Chapter 7, accounting for roughly 72 percent of non-business bankruptcies.

Since many Chapter 7 filers don't have assets that qualify for liquidation, credit card companies and other creditors sometimes get nothing.

In a Chapter 13 bankruptcy, you're put on a repayment plan of up to five years. Any debts not addressed by the repayment plan don't have to be paid. Last year, there were 445,574 Chapter 13 filings.

After the bill becomes law, fewer people will be allowed to file under Chapter 7; more will be forced to file under Chapter 13.

Lawmakers who favor the legislation argue that it would prevent consumers from abusing the bankruptcy laws – using them to clear debts that they can afford to pay.

What that means for consumers is it will be harder to find a bankruptcy attorney willing to file because of the liability and the additional work required to verify a client's information, Elias said.

Those who are willing are likely to charge more.

Credit counseling and money management: Under provisions of the new bill you must meet with a credit counselor in the six months prior to applying for bankruptcy. And before debts are discharged, you must attend money management classes. You must pay for any fees charged.

http://money.cnn.com/2005/04/13/pf/bankruptcy_bill/