Quote:
Originally posted by fantasyman
This is something I heard from someone else and I don't know if it holds any water.
There's an old urban legend that Senator Warren Hatch made a deal with Visa - they woud tighten up the bankrupcy laws and Visa would get rid of the AdultNet.
Well at the beginning of this year the bankrupcy laws were tightened up so you can't go bankrupt on credit card debt.
Do the math.
Also read this thread http://gofuckyourself.com/showthread...hreadid=159494
It makes no sense.
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Bankruptcy laws didn?t change it looked like they would, but in an ironic twist a group of conservative house members defeated it. They didn?t have a problem with the purposed non-dischargeable credit card debt. Their problem was that under the new rules you couldn?t discharge a civil judgment rendered against you for interfering with the operation of an abortion clinic. I still put a lot of credibility in the notion that the whole crack down was part of the bankruptcy reform deal. I first read about the issue in a trade magazine for bankruptcy attorneys. The article said their was a backroom deal cut where certain Republican congressmen would make it so credit card debt couldn?t be discharged in bankruptcy, and in exchange the credit card companies would quite processing transactions for online porn.