The recovering lawyers thread. Filing for bankruptcy carries both a social stigma and the financial consequence of limited credit for years to come.
Responsibility needs to be shared.
Congress could start by forcing credit card issuers to include information on the terms of what are essentially high-interest loans. Credit card statements should contain that information. Limits on distribution must also be put in place, she and others insist. They can't have it both ways. Lois Brady, a trustee in the Oakland, Calif., bankruptcy court who handles about 50 cases per month, couldn't agree more.