Thousands are heading to federal courthouses in the United States to seek protection from creditors as new bankruptcy laws take effect on Monday Oct. 17th. On that date it will be much harder to file for bankruptcy and people will not be allowed to walk away from their debt in most cases. Opponents of the new law say that it unfairly targets those who need this the most. Surveys reveal that most bankruptcies were due to the result of unforeseen medical emergencies. Banks and credit card companies pushed this through congress to hold consumers accountability for their debt while companies have increased their profits by 3x.
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