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"Bankruptcy should always be a last resort in our legal system.
If someone does not pay his or her debts the rest of society
ends up paying them. In recent years, too many people have abused the bankruptcy laws. They've walked away from debts even when they had the ability to repay them. This has made credit less affordable and less accessible, especially for low-income workers who already face financial obstacles.
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President George W. Bush, April 20, 2005 at signing of Bankruptcy Abuse Prevention and
Consumer Protection Act of 2005 |
