January 20th, 2011 5:55 PM

Governor Paterson may be changing legislation regarding bankruptcy exemptions which are out of date.  Banking lobbyists have complained that increasing exemptions would cause most creditors to re-examine their underwriting guidelines.  This would limit the number of consumers and small businesses that were good credit candidates.  The new legislation will let people keep enough of their property to continue working during hard times during this current recession.

 

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