The ill-thought-out bill sponsored by Nebraska representative Lee Terry that would have allowed debt collectors, banks, and other companies to robocall your cell phone appears dead, according to US PIRG. Phew.
Debt collection and bankruptcy news has been piling up in my queue, and since I can’t hope to give each post the attention it deserves, here is a grand roundup.
It should be no surprise that a bad economy leads to increased bankruptcy filings, but the economy’s health and bankruptcy filing rates are not inextricably linked. Bankruptcy filings have a lot more to do with debt. And since banks weren’t lending to consumers 2–3 years ago, it makes sense that bankruptcy filings are decreasing. [Credit Slips]