It probably would not have much impact on the very young because the means test looks at current income, not potential income down the road, Cannon said.

Under a current Chapter 13 filing, debtors are allowed to repay debts over a three- to five-year period. The new law would extend that period to five to seven years.

Critics of the legislation call it "class warfare," saying it targets the poor and forces many into a lifetime of poverty. And some argue it rewards lending institutions for marketing practices targeting those least able to pay, in many cases the young and fiscally naive.

Cannon doesn't buy that argument, saying too many people with the ability to pay are walking away from debt. And at some point, personal responsibility has to come into play and parents must do a better job of teaching their children about credit before the tempting credit offers start rolling in.

"It will encourage people to be more responsible," he said.

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