Bankruptcy Overhaul
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The House Judiciary Committee will continue hearings today and Thursday on a bankruptcy overhaul bill. On Tuesday, the committee moved to add changes to the bill, sponsored by Rep. George W. Gekas (R-Pa.), to make filing for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code less onerous for debtors by broadening the eligibility. Gekas’ bill is aimed at stemming bankruptcy filings by making it more difficult for consumers to avoid repaying debts. The bill has broad support from the credit card industry.
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