new bankruptcy law question

[liveandchi]

I have a question about this new bankruptcy law. Do you think that credit card companies will be less willing to consolidate debt now that it will be harder for people to file for bankruptcy?

[csonneman]

No I do not. In fact they will be more willing. They would rather deal with you on their terms than get the Government involved. They know that either way they are getting their money, but if you consolidate and work with them then you do not close credit cards and you can spend more later. It would seem to me that they would like it if you worked with them.

[PRICEPLUS]

In the end the CC companies just want the money they are owed. They don't seem to much care how they get it so long as they eventually get it!