Chris Dodd makes sense again about the awful bankruptcy bill:
Today Senator Dodd released his full plan for bankruptcy reform. You can view the full Dodd plan for fair, practical bankruptcy reform at http://chrisdodd.com/issues/bankruptcy.
Here are the bullet points of what the Dodd plan will do:
- Modify the means test to ensure families have sufficient resources to live on
- Protect children, not creditors
- Ensure all medical debts are dischargeable
- Permit bankruptcy courts to restructure mortgages so families can stay in their homes
Harvard Professor Elizabeth Warren says, "These proposals show that Senator Dodd is squarely on the side of families. He knows that hard-working, play-by-the-rules people sometimes need a safety net."
- Allow private student loans to be dischargeable
Senator Dodd has the best record of Democratic candidates on bankruptcy reform - eRiposte of the Left Coaster writes, "He has been consistently and strongly progressive on the topic of Bankruptcy "reform" at least since 2000."
Last month Dodd announced that he will call for the reform of a part of the current bankruptcy law which prevents judges from aiding those in default of their loans by restructuring their payments.
How does your fave candidate look on these issues? eriposte at The Left Coaster has a comprehensive analysis. But here's the simple answer: