South Florida Bankruptcy Lawyer

Senators in Congress are considering the future of the credit industry.  Democrat from Florida, Al Franken, has proposed a number of different changes that would protect consumers from predatory lenders.   He feels that Congress has failed to help those households that have been duped into accepting outrageous credit terms.

His charges have caused fervent debate on Capitol Hill.  Republican Senator Norm Coleman disputes his colleague’s claims, referring to them as purely rhetoric.  Coleman, who supported the 2005 bankruptcy bill, claims that his investigative subcommittee has exposed credit abuses and wants to stop deceptive credit practices.

Franken says that he will support a “credit bill of rights” that would crack down on predatory lenders.  It would ban interest on late fees, and require that credit applications be intelligible.  This would hopeful curb the possibility of another credit crunch crisis.

If you have found yourself in a financial bind, call the West Palm Beach bankruptcy attorneys of the Eric N. Klein law firm at 561.353.2500.