[Congressional Record Volume 148, Number 105 (Monday, July 29, 2002)]
[Extensions of Remarks]
[Page E1466]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      BANKRUPTCY REFORM (H.R. 333)

                                 ______
                                 

                          HON. JOSEPH CROWLEY

                              of new york

                    in the house of representatives

                         Friday, July 26, 2002

  Mr. CROWLEY. Mr. Speaker, I rise in support of the Conference Report 
for the Bankruptcy Abuse Prevention and Consumer Protection Act.
  I can give my colleagues one reason to support this legislation--
fairness.
  This bill will restore fairness to our nation's bankruptcy laws for 
those Americans who work hard and pay their bills on time.
  A few days ago, representatives from a number of credit unions came 
to my office, including Rob Nemeroff of the Melrose Credit Union in 
Woodside, Queens in my Congressional District.
  He detailed about how the hard working, middle class people of his 
credit union--and of my District--continually have to pick up the tab 
for those who file bankruptcy--whether legitimately, as many do, or 
irresponsibly, as far too many do.
  This bill will provide them some fairness--something that my 
constituents do not often get from this Congress.
  H.R. 333 provides fairness to the victims of criminal corporate 
executives by mandating that these corporate pirates can no longer 
shield their multi-million dollar homes from defrauded investors 
seeking to reclaim some of their lost assets.
  It provides fairness for those families who suffered losses in the 
terror attacks of last year by walling off any of the compensation paid 
to them through the Victims Compensation Fund or other victims' funds 
from being considered as income for repayment plans.
  And this bill provides fairness for women and children in their 
ability to collect child support and alimony obligations.
  And for those who do file for bankruptcy, this bill includes numerous 
new protections for them and their families.
  This bill permits filers to keep their homes and provide health 
insurance for themselves and their families before taking their assets 
into account for repayment plans.
  This bill states that low income debtors will be exempt from many of 
the provisions of this bill if their median family income is below the 
average for their state.
  This legislation represents a fair, common sense approach towards 
tackling the important yet complicated issues surrounding the issue of 
bankruptcy in a way that will benefit those working Americans who pay 
their bills while providing for those who cannot.
  Finally, I applaud my colleague from New York, Senator Charles 
Schumer for his tireless battle to include tough penalties for the 
people who try to discharge debt from clinic protesting.
  This was the right thing to do, and I applaud him for including it in 
this bill.
  Overall, this bill is about fairness and I am pleased to support this 
Conference Report.

                          ____________________