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Bankruptcies low in states that don't seize wages

anonymous | 10:51 p.m. July 5, 2009

"States that allow debt collectors to seize consumers' wages have sharply higher bankruptcy rates than neighboring states that prohibit or strictly limit the practice, an Associated Press analysis has found." -- really? I would have never have guessed.

Dave | 7:43 a.m. July 6, 2009

It's a crisis, we obviously need Gov funded bankruptcy protection insurance.

Anonymous | 7:47 a.m. July 6, 2009

The financial services industry is going to kill itself by pushing harsh sanctions on consumers. The 2005 bankrupcty bill is a disaster. And it is unfortunate that Congress was convinced by the lobbyists (including those for credit unions), to pass this awful legislation. If consumer debt, and consumers ability to get back on their feet, continue to worsen, the threat to the economy will worsen, and banks will suffer more.

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1 photo

Butch Dill, Associated Press

In this July 1 photo, Cheryl Greer poses outside her home in Cullman, Ala. Under state wage garnishment law, Greer's employer held back money from her paycheck to pay debt. Greer filed for bankruptcy protection in May.