Bankruptcy Reform and President-Elect Barack Obama

Posted on November 5, 2008 by Kevin Chern Esq.

As of November 4, 2008, the people of the United States of America have clearly spoken by voting for change in electing Barack Obama as the new Commander-in-Chief. The American Bankruptcy Institute (ABI)reports that change will be a key factor in reforms that the Obama administration will make to the current Bankruptcy Code. According to ABI, President-Elect Obama plans to reform the Bankruptcy Code so that homeowners will be able to modify mortgages in Chapter 13 proceedings and offer additional assistance to disaster victims, members of the military, and other groups. For many working and middle-class families, January 20, 2009 cannot come soon enough.

You can read more concerning the bankruptcy reforms and other key issues on Obama's website.

 

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