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Bill forces some Chapter 7 filers to head over to Chapter 13 and pay up a little.

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This story appears in the May 2001 issue of Entrepreneur. Subscribe »

Arguing that cannot afford the astronomicallosses associated with abuse of the system, BruceJosten, executive vice president of the ,threw the weight of his organization behind a new bankruptcy reformbill that has been passed in the House and the .

H.R. 333 is the reincarnation of H.R. 2415, the bankruptcyreform bill that easily cleared the House and Senate at the end of2000 but was pocket-vetoed by President Clinton. While PresidentBush has not committed to supporting or opposing H.R. 333, WhiteHouse Press Secretary Ari Fleischer says Lawrence Lindsey,Bush's economic advisor, "has spoken favorably" aboutpassing bankruptcy legislation.

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