Bankruptcy Bill Passes; Bush Expected to Sign

The House gave final passage yesterday to legislation intended to make it harder for consumers to wipe out debt through bankruptcy, clearing the way for President Bush to sign the bill into law as he has promised to do.

Bankrupt and Swamped With Credit Offers
When Chapter 7 Filers Wipe Out Their Debts, Card Firms Jump
By Caroline E. Mayer
Washington Post Staff Writer
Friday, April 15, 2005; Page A01

Overwhelmed by more than $60,000 in debt, Lenya Garcia filed for bankruptcy protection last July. In January, her case was completed and her debts -- mostly on credit cards -- were dismissed. Less than a month later, a rash of new credit card offers began arriving in the mail.

"I was very surprised," said the 36-year-old Bronx bookkeeper. "I figured my credit history had a big smear on it, and it would take a long time to get credit." Initially Garcia threw the offers away, but then she had a hard time renting a car without a credit card. So she took the next good "preapproved" offer -- 14.9 percent interest and no sign-up or annual fee -- and signed up at the company's Web site.