Must Read


_
Kids vs. credit

What to pay first: child support or the credit card bill? A bill before Congress would make that question even tougher by restructuring bankruptcy laws to allow credit card companies to recoup more of debtors’ income, reports TOMPAINE.COM.

Recent Must Reads

2/28 – Military’s new anti-human weopon

2/27 – AP buys RIAA’s bogus line

2/24 – Tuning out Channel One

2/23 – Subdivide and conquer

Current bankruptcy law prioritizes payments like child support for debtors, while either cancelling or delaying payment on high-interest, short-term debt like credit card bills. That’s an important consideration, given that one in every seven debtors who files for bankruptcy is paying child support. The new laws would leave consumers with more credit card debt after an individual declares bankruptcy, therbey making payments on previously nondischargeable debts like child support more difficult to make.

Other parts of the bill would effect working families, small-business owners, and laid-off employees. Credit card companies and banks favor the new legislation, and were among President Bush’s highest campaign donors.

Read the TOMPAINE.COM article here.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2018 demands.