Atlanta Georgia Bankruptcy Blog expresses disappointment in stimulus for no bankruptcy reform

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 11, 2009 -- Sundeep Kothari, Bankruptcy Attorney, writer of the Atlanta Georgia Bankruptcy Blog, expresses his disappointment in the recently packaged stimulus package for failing to include meaningful bankruptcy reform.

"President Obama ran on a campaign of change, and not wanting four more years of the last eight years. Unfortunately he has done very little to break from the bad bankruptcy reform package passed nearly 4 years ago," writes Sundeep Kothari.

"President Obama is giving out billions of dollars for pork barrel projects while working men and women struggle to make their mortgage payments to keep a roof over their head for themselves and their family."

"President Obama should immediately push for a reduction in credit card rates from 31% down to 10%."

"In addition, President Obama should eliminate the means test for Chapter 7 bankruptcy filings, allow Chapter 7 filings after 5 years, and allow seniors and indigents to bypass the credit counseling courses."

"President Obama and Congress have failed the American people by not allowing bankruptcy judges to cramdown primary mortgages, second mortgages, and equity lines on primary homes. One in ten homeowners is in either in default or in foreclosure, while one in six homeowners are "under water" (i.e. own a home with a mortgage higher than its current value).

"Mr. President, Ms. Pelosi, and Mr. Reid, now is the time for meaningful bankruptcy reform," says Sundeep Kothari.

More information can be found online at http://atlantageorgiabankruptcy.wordpress.com

Atlanta bankruptcy lawyer     Kothari Law Firm     Sundeep Kothari