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     | Friday, February 04, 2000 - 04:15 pm  We are in the process of filing chapter 7, and have heard of new law just passed. We have paid all fees but it has not been filed yet. How will these new laws affect filing, and when do they go into effect. Thank You.
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| | Saturday, February 05, 2000 - 10:24 am I wouldn't wait to file having done chapter 7 myself. It hasn't gone to the house for compromise. Find out the cut off dates for filing under the old law. The previous editions of bankruptcy reformation really hurt the middle class no matter what the reason for the bankruptcy. I know it seems difficult to file--it cost me plenty by my fighting to do the honorable thing and try and pay off creditors with the measly amount i was earning after corporate reorganization zapped my income. But the sooner you file, the sooner you can take steps to start the rebuilding process. this board can really help.
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| | Monday, February 07, 2000 - 04:14 am By filing a chapter 7 Bankrupcy will that have any effect on a top security clearance for a job?
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| | Monday, February 07, 2000 - 05:57 am As an ex-fed worker, I can give you 2 pieces of adive - 1) The large debt that forces one to file bankrupcy is probably a greater threat to your security clearance than the bk itself, and 2) If you are a FED employee, there is an obscure statue that requires all federal workers to "pay their debts", meaning that if you have credit problems, your supervisor can use that to start a disciplinary process (just like he/she could discipline you for insubordination, tardiness, etc.) I have seen people being told to "take care of these entries on your credit report or we will have to let you go." You probably have to just roll the dice and file bk and hope for the best.
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| | Monday, February 07, 2000 - 06:01 am The laws are only proposed, have not been passed. http://www.bankrate.com/cic/story_home.asp?web=cic&story=news/pf/20000202a&prodtype=bank
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| | Monday, February 07, 2000 - 07:56 am Last week, the Senate approved its bankruptcy reform bill, S. 625, by a vote of 83 to 14. The House has already passed its bill, H.R. 833, with a 313 to 108 vote. They have to form one bill, pass it, then send it to the President.
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| | Monday, February 07, 2000 - 09:24 am Clinton has (previously) stated that he would veto similar bills in the past.
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