First Look at Impact on More Than 50,000 Consumers Under New Law
News Advisory for February 22, 2006
WASHINGTON, Feb. 20 – LAWFUEL – The Law News Network — The first analysis to be conducted of over 50,000 consumers referred to credit counseling agencies under the controversial new federal bankruptcy law will show that the law is not working
as intended, according to the National Association of Consumer Bankruptcy
Attorneys (NACBA).
NACBA will hold a live, phone-based news event (with full, two-way Q&A) to
release the data findings showing that, in practice, the new bankruptcy law is
simply imposing harsh new burdens on consumers who, in the vast majority of
cases, have been forced into financial difficulties by circumstances beyond
their control. Sweeping new changes to federal bankruptcy laws went into
effect on October 17, 2005.
News event speakers will be:
* Brad Botes, executive director, National Association of Consumer
Bankruptcy Attorneys;
* John Rao, attorney, National Consumer Law Center; and
* A consumer who has experienced the new bankruptcy process firsthand.
TO PARTICIPATE: You can join the live, telephone-based news conference
(with full Q&A) by dialing 1-(800) 860-2442 by 1:30 p.m. ET/12:30 CT on
February 22, 2006. Ask for the “bankruptcy law study” news event.
CAN’T PARTICIPATE?: A streaming audio recording of the news event will be
available on the Web as of 6 p.m. ET/5 P.M. CT on February 22, 2006 at
http://www.nacba.org.
Established in 1992, the National Association of Consumer Bankruptcy
Attorneys is the only organization dedicated to serving the interests of
consumer bankruptcy attorneys and protecting the rights of consumer debtors in
need of bankruptcy relief. The Association’s twin missions are to help
consumer bankruptcy attorneys more effectively represent their clients and
ensure that the voices of consumer debtors and their attorneys are heard in
the halls of Congress, the Judiciary, and in other arenas where consumer
debtors are affected.
