A stricter new personal bankruptcy law scheduled to take effect on Oct. 17 is likely to deliver another blow to those dislocated by Hurricane Katrina. The NY Times notes, “The law was intended to keep individuals from taking on debts they had no intention of paying off. But many once-solvent Katrina victims are likely to be caught up in the net intended to catch deadbeats.” Lawmakers – mostly Democrats but including some Senate Republicans – want to revisit the law before it takes effect to allow for the storm victims along the Gulf Coast to get relief from the new law’s stricter provisions.
But Representative F. James Sensenbrenner Jr. of Wisconsin thinks lawmakers who lost the long fight over the law “ought to get over it,” according to The Associated Press.
Should the citizens affected by the hurricanes also just “get over it?”
