Links to keep up with BK reform. http://www.bankruptcyfinder.com/bankruptcyreformnews.html#Anchorflash http://www.abiworld.org
With Education all the focus is on earning a living.Nothing is taught on what to do with the money once you earn it. 1*Credit is not all they don't learn about,or the only area they get short changed in.
Genus Credit Management was purchased by American Financial Solutions - which is owned by a community college in Seattle, Wa. Actually it was the existing Genus account portfolio that was purchased, as Genus ceased to take new clients in December of 2000. The actual company changed its name at that time to Profina Debt Solutions as it wanted to distance itself from some of the negative reputation that the name Genus had gained with creditors and the public. Many of the existing credit counseling agencies (non-profits) are owned by community colleges as it makes the non-profit status easier to obtain. Technically they are supposed to offer education on managing finances along with the debt management services. They do this solely by sending "educational brochures" about four times a year with client statements. They also maintain small offices in which a client can go in for a actual financial counseling session, although this is rarely done with their nationwide presence. Some other "community college" based credit counseling companies are Clarion Credit Management, Consumer Education Solutions Inc. These along with Genus, American Financial Solutions and a newcomer Debt Management Group have their customer service and actual back end processing and management of accounts provided under contract by Amerix Corporation in Columbia, Maryland. Amerix is actually for profit.
They teach sex education in schools, but not credit education. Both sex and credit can get you into a world of trouble if you aren't careful. Seems to me like there would be some kind of push to start teaching children when they are young. I wonder if there are books out there that help parents teach their children how to use credit wisely. L
Great News: Fri, May. 10, 2002, Abortion issue collapses talks on bankruptcy bill WASHINGTON - Congressional negotiators said Thursday that talks aimed at forging a compromise bill to overhaul the nation's bankruptcy system had broken down in an angry dispute over a provision on abortion rights, with the two leaders of the talks blaming each other in unusually personal terms. http://www.bayarea.com/mld/cctimes/news/politics/3235972.htm
This is part of the reason I said in another post money in the bank is not as good as most folks are lead to believe:
lbrown59 Are you suggesting some kind of federal requirement that personal finance be taught in grade school?
Fri, May. 10, 2002 ABORTION ISSUE COLLAPSES TALKS ON BANKRUPTCY BILL By Philip Shenon "WASHINGTON - Congressional negotiators said Thursday that talks aimed at forging a compromise bill to overhaul the nation's bankruptcy system had broken down in an angry dispute over a provision on abortion rights, with the two leaders of the talks blaming each other in unusually personal terms. The leaders, Sen. Charles E. Schumer, D-N.Y., a supporter of abortion rights, and Rep. Henry J. Hyde, R-Ill., one of the most vocal opponents of abortion in Congress, held out little hope that they could overcome their differences, even though that could mean the death of the bill. The measure, which would make it harder for people to escape their debts, would probably be passed by overwhelming margins in both the House and Senate. "Every proposal he makes decimates the bill," Schumer said, referring to Hyde. "It seems to me that the House Republican leadership would let this bill go down because they know that Henry Hyde has heartfelt and totally unyielding views on this issue. The negotiations are getting nowhere." In a statement, Hyde accused Schumer of "cluttering this bill on bankruptcy reform with vengeful abortion language." He said that "as much as I love the guy, Sen. Schumer should stop the name-calling." While their statements Thursday might simply be political brinksmanship on the eve of a compromise, their tone created new dismay for the banking and credit card industries, which have mounted a multimillion-dollar lobbying campaign in pursuit of just the sort of bill that is now before the Senate-House conference committee. Hyde, a member of the conference committee, and a group of other influential anti-abortion Republicans are opposed to a provision written by Schumer that was included in the Senate bill. It would prohibit anti-abortion protesters from using the bankruptcy laws to escape debts incurred as a result of court fines or judgments stemming from violent protests at abortion clinics. Hyde has said the language of the provision was too broad and could unfairly punish peaceful anti-abortion demonstrators who become caught up in court action and faced bankruptcies. Hyde had found public backing among House Republican leaders, who are solidly anti-abortion and who say that Schumer appears to be willing to sacrifice the bankruptcy bill so long as he does not offend his abortion-rights supporters. Jeff Lungren, a spokesman for Rep. James Sensenbrenner Jr., R-Wis., the Republican chairman of the House Judiciary Committee, said Schumer was trying to "fulfill the wish list of the abortion industry." Schumer has enjoyed a similar degree of support from fellow Democrats on the conference committee, which is supposed to hammer out differences between the House and Senate bankruptcy bills and then send a compromise bill to both chambers for final approval. The provision in the Senate bill already reflects a compromise between Schumer and Senate Republicans. It makes no direct reference to abortion or abortion clinics, referring instead to a need to prevent protesters who harass "a facility providing lawful goods or services" from abusing the bankruptcy laws. Schumer said he was willing to make some adjustments in the wording of his provision to deal with the concerns of House Republicans. "But the House leadership should know that it will not get a bankruptcy bill unless there's genuine compromise on this provision," Schumer said. "Every time we take a step towards them, they take a step back." The bills passed in the House and Senate would rewrite the nation's bankruptcy laws, making it far harder for tens of millions of middle-class debtors to erase their credit card bills and other debts when they declare bankruptcy. Instead, they would be forced into court-supervised programs to repay the debts over several years." See: http://www.bayarea.com/mld/cctimes/news/politics/3235972.htm
"Great News: Fri, May. 10, 2002, Abortion issue collapses talks on bankruptcy bill" @@@@@@@@@@@@@@@@@@@@@@@@@@@ This Bill deserves to Die, permanently, they are not concerned with the real problems here, just their own agenda, & that of the Credit Card Giants. Any one notice that CAPITAL ONE, SPENT 1 BILLION ON SOLICITATIONS ALONE, now what does that tell you? Especially when Cap.1 is primarily interested in the less than perfect credit consumers. BIG $$$$$
1* Cremate it now. They bait the trap.Now They want uncle Sam to plug the hole in it.2*It tells me that I'm right in saying we should stop doing business with the industry.Where do you think Crap one got the billion.?Nothing like us giving them the money so they can use it against us is there?Ain't we the smart cookies? 3*Guess they want Uncle Sam to protect ther losses for bad business decisions. If This law passes there won't be any need for FICO.Who cares about risk when you have a Gov. Guarantee!
Monday May 13, 2002 REPUBLICANS WILL TRY AGAIN TO SETTLE ABORTION CLINIC ISSUE THIS WEEK "SOURCE: David Goch Washington Legislative Counsel Commercial Law League of America REPUBLICANS WILL TRY AGAIN TO SETTLE ABORTION CLINIC ISSUE According to Republican staff, House Republicans intend to challenge Senator Schumer (D-NY) over his abortion amendment currently contained in H.R. 333. It is expected House Republicans will make their push to resolve this language, the last challenge to producing a conference report on the bill, this week. Republicans have criticized Schumer's language because their interpretation is it requires only that a creditor's action "alleged" an act that violates the law before classifying it as nondischargeable. Republicans feel that this would disadvantage individuals who are a party to a judgment or settlement where there is no finding or admission of guilt. On a related note, House Judiciary Chairman Sensenbrenner (R-Wis), who chairs the bankruptcy conference, has scheduled a meeting for the 22nd, so conferees can publicly hash out the abortion issue. The meeting of conferees likely will be the last - regardless of whether an amicable resolution can be reached on the abortion issue because, as previously reported, Sensenbrenner nor his Senate counterparts have any desire to see the bankruptcy conference negotiations drag on past the upcoming Memorial Day recess. " http://www.bankruptcyfinder.com/bankruptcyreformnews.html#Anchorflash
