Filing Bankruptcy During An Election Year

Filing Bankruptcy During An Election Year "During election years, Americans are exposed to two candidates making numerous unfulfillable promises. Over the years, presidents have made significant adjustments for those filing for bankruptcy in the United States. In 2005, when George Bush was president, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act, which completely rewrote the bankruptcy legislation. This made it significantly more difficult to petition for Chapter 7 bankruptcy than it had been previously. As president, Obama enacted a bankruptcy reform measure that was intended to permit a Chapter 13 bankruptcy judge to modify mortgages. This proposal was rejected by Congress and never became law. During this past year's election, no promises were made to assist those filing for bankruptcy. False financial recovery is the only thing that is being promised.Numerous unemployed Americans continue to wait for their ship to arrive. During the past five years, millions of individuals from the middle class have lost their homes to foreclosure or are scarcely surviving as they attempt to obtain a loan modification. During the election season, numerous politicians pledged to make loan modifications simpler, enabling homeowners to remain in their homes. Approximately 5% of those who requested a loan modification actually received one. The remainder received the shaft. Many ceased paying while awaiting a loan modification, only to lose their home to foreclosure. In retrospect, declaring bankruptcy would have been a much wiser decision.The Fed's passage of QE3 and QE4 so close to the election is intriguing. Six months before an election, the Fed has never made any financial decisions in the past. Many are unsure of what is occurring. Our economy continues to slide down the treacherous slope, causing many to question whether this will become the new norm. With the same president, will fewer or more individuals declare bankruptcy? It appears that hyperinflation is imminent regardless of who is in office. After the Fed has printed so much money and continues to add $85 billion per month, there is no way to evade it. In the near future, one thing is certain: a bankruptcy attorney will have no trouble making a livelihood. In the past four years, nothing has been done to assist homeowners avoid foreclosure. We have only heard chatter. I do not know if a new president would have made the necessary adjustments to right this ship, but something must be done. Americans are suffering and must return to their ancestors' values. Getting the government and the people out of debt would be the first step in the correct direction.
" - https://www.affordablecebu.com/