Thank you for reading's Entertainment-News articles.

Bankrupcy to be made tougher in the US

 article about bankrupcy

A law is about to be passed in the US to make bankrupcy tougher to achieve.  Banks and credit card companies are saying that heavily-indebted people are abusing bankrupcy and using it as an excuse not to repay their debts, and taking the easy way out by having their assets liquidated.

The bill was presented to senate last month and won 74-25.  The bill is aiming at stopping the abuse of bankrupcy but some say it is too harsh. Anyone filing for bankrupcy once the bill is passed will  be subject to a means test to see if they can repay their debts by installment plans, and will also have to receive credit councelling, adding insult to injury.

have your say

Welcome to TheCheers! We've been around for a long time now, since 2004, publishing articles by people from all over the world. Roughly 300 people from 30 different countries have written for us over the years. Should you want to become a volunteer contributor, be sure to contact us!

Additional info

Some of our content may be related to gambling.

get in touch

You can contact us via the email you can find on our contact page, via telegram @thecheers, or through our The Cheers Facebook page. No real point in contacting us through The Cheers Twitter account.