Current Newsletter
Collection & Credit Insights
April 2005
Volume 13.4
Washington DC: Disneyland East?
I traveled to Washington last month for two days of lobbying on the hill with a close friend and fellow collection agency owner from Michigan, which makes it about ten years in a row for us now. It’s always an exciting trip. On the rainy 5:00 am drive to Metro, a negative frame of mind enveloped me and I began to wonder “Why bother going to Washington? It’s impossible to get meaningful change effected in the face of the incestuous politics, and this year will be no different than the past nine.”
Well, just prior to taking US-23 south to Toledo, I rip the car back onto I-94, to the dismay of several drivers who, no doubt, were well versed in international sign language. “Got to pay attention here son” I’m saying to myself, “I’ve got the futility of calling on Congress ahead of me and a $10 shoe shine, don’t crash and burn with such fun ahead!”
While sitting in Senator Stabenow’s office in the Hart Building, late and out of breath due to running from my last appointment, I notice CSPAN is carrying the bankruptcy debate.
The legislation would set up an income-based test to measure a debtor's ability to repay debts. It would require people in bankruptcy to pay for credit counseling and stiffen some legal requirements for debtors in the bankruptcy process.
The commentator is saying the bill is going to pass as 18 democrats are voting in favor (Senator Stabenow included), and the amendment debate is moot. What? How could this be true? I must have crashed on I-94 and this is just part of a near death experience!
As you are probably aware by now, the bankruptcy legislation passed the Senate and will likely pass the house soon, finally heading for the President’s signature. Congressional and industry backers have been pushing for it for eight years, arguing that too many people with the ability to repay at least a portion of the money they owe were walking away from all their debts.
No, Disneyland East it is not. From Wawa to Washington this is the best dang free political process on the planet, in spite of the often maddening nature of it all. Realize that if you are not involved in more than vote casting you are way, way out of the loop and do not have much influence. Access generates the opportunity for influence in all levels of government. Practice your right to access today or get ready for long, long lines coming to a town, city, or state near you.
Bob Barden
President
“You may be disappointed if you fail,
but you are doomed if you don’t try!”
—Beverly Sills
Office Location
Ann Arbor Credit Bureau
(734) 665-6173
(800) 710-4821
Upcoming Events
Credit Professionals of Ann Arbor
April 12, 2005
Collections Seminar
October 27, 2005
Welcome to Our New Clients
- Ladenberger Land Development
- Kenrose Acres
- Oaks of Salade Point
- Auburn Hills Therapy
- Michigan Telephone & Data, Inc.
- Campbell's Auto Salvage
- Oaks of Adrian
Staff Member Takes a Bow
Last month, The Lenawee County District of the Boy Scouts of America presented Linda Toro, our Administrative Manager, with the Silver Beaver Award. In recognition of her dedicated involvement since she joined the organization in 1988, her council presented Linda with this award, which is the highest honor a local council can bestow on a volunteer. Linda adds this award to a long list of honors she has received during her service. Way to support the community, Linda!
Credit Professionals of AA Meeting
Credit Professionals of Ann Arbor will meet at Weber’s Inn, Tuesday, April 12th 2005 from 7:30am to 9:00am. The featured speaker will be Alicia A. Botti, CMFC, Financial Advisor, American Express. The topic of discussion will be "Long Term Care Insurance." Meeting fee is $10.00. Please contact Rebecca Burk at 734-994-6928 for reservations.
High Payment of the Month!
High payment honors of the month go to Louise. She collected $4765.81 for a local resort.
Nice job Louise and congratulations!!!
Senate Passes Bankruptcy Bill!
Last week the Senate approved a measure supported by the credit industry that if enacted to law will make it harder for people to shed off those debts. The bill is expected to pass through the House quickly in the next few weeks. The Senate approved the Bankruptcy Abuse Prevention and Consumer Protection Act (S.256) by a 74-25 vote on March 10, 2005.
“The Senate-passed bill would require many people filing for bankruptcy court protection to repay a portion of their debt under Chapter 13 of the bankruptcy code rather than allowing them to erase it almost entirely under the more commonly used Chapter 7. It is estimated that the proposed legislation would force 30,000 to 100,000 additional filers a year into Chapter 13.
Consumer groups and many Democrats say the bill is too harsh on people dealing with sickness, divorce or job loss.
The banking, credit card and retail industries, which have pushed for the legislation for more than seven years, argue that changes to current law are needed to end abuse of the system by people who shirk their financial obligations when they could repay some of what they owe.”
By Kathleen Day Washington Post Staff Writer http://www.washingtonpost.com
President Bush has already committed to signing the bill making this the second “big business” victory after legislation was passed last month that is intended to curb class action lawsuits against businesses.
New Faces at the Bureau!
We want to welcome three new faces to the Ann Arbor Credit Bureau. Spresa will be working with our collection team, Liz in our legal department, and Tracy with the front reception team. Welcome to the family!
Don’t Forget to Show Your
Appreciation!
Administrative
Professional’s Day April 27th
A Reason to Celebrate
April 3rd—Daylight Savings Time — Spring Forward
April 15th—Taxes Due
April 22nd—Earth Day
April 27th—Administrative Professionals Day
April 29th—Arbor Day
People don’t care how much you know, until they know how much you . . .collect |
