Bankruptcy for everyone!

As expected, a record number of people have filed for bankruptcy ahead of this weeks changes. But here's my favorite tweak to the new law so far:

Chapter 13 debtors face a new provision making it harder to keep their cars, since a provision requires those filers to repay the full balance on auto loans. Under current law, they only must pay the car'’s fair market value.

Anyone see a problem that may arise from that? I'm asking those of you who currently drive a car to get to and home from work in order to pay your bills.

And we are looking at these new rules taking effect at a time when more families are being forced to use credit cards to cover household costs and predictions of natural gas prices increasing by 50% this winter, putting even more pressure on an already stretched family pocketbook.

So what happens this winter? Hopefully an upsurge in wages or a drop in energy prices allowing most of these families to stabilize and begin paying down their debt. If not, it could be a cold, dark holiday season for most of the nation.