President Obama To Make Filing For Bankruptcy Easier

President Obama To Make Filing For Bankruptcy Easier

In his address Feb. 18 regarding his plans to mitigate the current mortgage crisis, President Obama announced that his administration will reform bankruptcy rules to make it easier for individuals to seek such relief.

While his press conference in Mesa, Ariz. was primarlily focused on rescuing families caught in the economic downturn as it relates to home values, the president added a line about personal bankruptcy toward the end of his remarks.

President Obama did not elaborate on how the bankruptcy rules would change, only on the fact that doing so is a goal of his presidency.

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