Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.

Personally, I am appalled at the hypocrisy of our Congress on the topic of debt management. Of course, considering all that has happened over the past few decades, I do not know why I should be so surprised, but I am.

Laws Made Harsher for Those in Debt

In 2005, they passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which amounted to sweeping changes in how bankruptcies are handled and who can file for a chapter 7 fresh start.

Lawmakers allowed themselves to be convinced by the credit card lobby that Americans were using credit irresponsibly (those pesky credit cards) and then using the bankruptcy system to get out of paying.

Personally, I think there was more bankruptcy "abuse" prevention than any consumer protection in that bill, but maybe that's just me.

Then National Debt Gets Out of Hand!

Then, in the past few weeks we have seen our country locked in a political struggle by its lawmakers over the debt ceiling. Tea Partiers clashed with Democrats over how much spending should be cut and whether the debt ceiling should be raised.

One interesting fact that came out of all of this was: the country's debt to income ratio was way out of whack, and resulted in Standard and Poor's downgrading our country's credit rating from AAA to AA+ (and then again to AA if things don't shape up in the next two years).

Congressional Hypocrites!

Huh?? This is the same Congress that six years ago wagged its finger at a significant portion of its electorate, chiding them for living beyond their means and spending more than they had!

Instead of criticizing, they should have been giving "how-to lessons," as they themselves have been doing it on a much grander scale! How about it, Congress? Times are tough, and we are all trying to do more with less.

How about rolling back the Draconian requirements of BAPCPA and give struggling Americans a break. If you aren't going to practice what you preach, you should get the heck out of the pulpit!

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